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April 57th Street Market Report

The following market report provides an overview of the real estate listings around 57th Street/ Billionaires' Row. The report includes information on properties for sale, properties in contract, and properties sold within the last year.



57th Street Luxury Market ($5M and above)


For those seeking unparalleled luxury, 57th Street's luxury market offers an exclusive collection. These properties are priced at $5 million and above, with 73 listings available, 11 in contract, and 38 successfully sold.


Luxury properties on 57th Street command an average price per square foot (PPSF), at $5,271, with a median PPSF of $4,886. The average luxury property price is $24.24 million, while the median price stands at $17.50 million.


Luxury properties tend to spend approximately 249 days on the market before being sold. Buyers have negotiated an average discount of 18.7% off the asking price, offering potential investment opportunities.


For Sale

73 listings

In Contract

11 listings

Sold

38 listings

Average PPSF

$5,271

$5,047

$4,551

Median PPSF

$4,886  

$3,426

$4,230

Average Price

$24.24M

$29.47M

$19.76M

Median Price

$17.50M

$12.40M

$13.55M =

Days on market

143

96

249

Avg. Discount off Ask

18.70%

 

57th Street Condos (all price points)


Explore the diverse selection of condos available on 57th Street, catering to various price points. Currently, there are 129 listings for sale, with 32 in contract and 159 successfully sold.


The PPSF for condos on 57th Street stands at $3,656 with a median PPSF of $2,488. The average condo price is $14.34 million, while the median price is $5.75M million.


With an average of 141 days on the market, condos on 57th Street sell relatively quickly. Moreover, buyers have negotiated an average discount of 13.4% off the asking price, presenting potential savings.

For Sale

129 listings

In Contract

32 listings

Sold

159 listings

Average PPSF

$3,656

$2,884

$2,326

Median PPSF

$2,488

$1,943

$1,613

Average Price

$14.34M

$11.62M

$6.02M

Median Price

$5.75M

$3.27M

$1.85M

Days on market

88

154

141

Avg. Discount off Ask

13.40% =

 

57th Street Co-ops (all price points)


Embrace the charm and affordability of 57th Street's co-ops, providing an attractive option for budget-conscious buyers. Currently, there are 101 co-op listings available, with 42 in contract and 175 successfully sold. Co-ops on 57th Street have a more moderate average price of $1.50 million, with a median price of $1.15 million. These figures make co-ops an enticing choice for buyers seeking affordability without compromising on location and character.


Co-ops spend an average of 92 days on the market, indicating a swift sales process. Additionally, buyers have negotiated an average discount of 5.4% off the asking price, presenting potential savings.

For Sale

101 listings

In Contract

42 listings

Sold

175 listings

Average Price

$1.50M

$893k

$844k

Median Price

$1.15M

$653k

$650k

Days on market

69

78

92

Avg. Discount off Ask


5.40%

 

57th Street Luxury Market ($5M and above)

March 2024

April 2024

% Change

Average PPSF

$5,227

$5,271

0.83%

Median PPSF

$4,879

$4,886

0.14%

Average Price

$23.91M

$24.24M

1.36%

Median Price

$18.00M

$17.50M

-2.86%

Days on market

172

143

-20.28%

Inventory

63

72

13.70%














1 Comment


Guest
May 02

Looks like average prices are going up.

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