Manhattan Luxury Market Update

Charlar Acar  |  October 3, 2022

Market Update

Manhattan Luxury Market Update

For the week of September 26- October 2

14 contracts were signed last week at $4 million and above in Manhattan, two fewer than the previous week. You can blame that lackluster total on the continuing rise in interest rates and another disastrous week in the stock market. Another complication: a two-day Jewish holiday, which typically creates a lull in the action.

The No. 1 contract was 57A at 23 East 22nd Street, asking $16 million. The 3-bedroom, 3.5-bathroom unit has 3,310 square feet and sweeping views of the Empire State Building, Madison Square Park, and the city. This One Madison condo is owned by media mogul Rupert Murdoch, who bought the apartment for $14,927,000 in 2014. Above the 57th floor, he is also selling a triplex penthouse, asking $58 million. Amenities in the building include a doorman, concierge, a fitness center with an indoor pool, steam room, lounge, screening room, and a private dining room.

- Total Weekly Asking Price Sales Volume: $115,704,000

- Average Asking Price: $8,264,571

- Median Asking Price: $6,245,000

- Average Discount from Original Ask to Last Asking Price: 6%

- Average Days on Market: 291

Report by Olshan Realty.

Images courtesy of Corcoran

Work With Charlar

For more than 6 years as an ABR, he has merited the trust of his clients and the respect of his colleagues in the real estate industry. He keeps confidences and represents each party with the highest level of service while bringing intelligence and skill to each transaction, large or small.