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February 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.


Market report graphic


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 62 listings available, 9 in contract, and 41 successfully sold.


Luxury properties on 57th Street command an average price per square foot (PPSF), at $5,299, with a median PPSF of $4,918. The average luxury property price is $23.96M million, while the median price stands at $17.87M million.


Luxury properties tend to spend approximately 249 days on the market before being sold. Buyers have negotiated an average discount of 17.8% off the asking price, offering potential investment opportunities.


For Sale

62 listings

In Contract

9 listings

Sold

41 listings

Average PPSF

$5,299

$7,154

$4,096

Median PPSF

$4,918

$7,451

$4,033

Average Price

$23.96M

$51.72M

$18.13M

Median Price

$17.87M

$34.26M

$13.50M

Days on market

202

154

249

Avg. Discount off Ask

17.8%

 

57th Street Condos (all price points)


Explore the diverse selection of condos available on 57th Street, catering to various price points. Currently, there are 113 listings for sale, with 35 in contract and 156 successfully sold.


The PPSF for condos on 57th Street stands at $3,612, with a median PPSF of $2,602. The average condo price is $13.73M million, while the median price is $5.75M million.


With an average of 137 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

113 listings

In Contract

35 listings

Sold

156 listings

Average PPSF

$3,612

$2,999

$2,216

Median PPSF

$2,602

$1,679

$1,637

Average Price

$13.73M

$14.78M

$6.04M

Median Price

$5.75M

$2.20M

$1.94M

Days on market

150

129

137

Avg. Discount off Ask

13.4%

 

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 79 co-op listings available, with 44 in contract and 175 successfully sold. Co-ops on 57th Street have a more moderate average price of $1.52 million, with a median price of $1.07 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 89 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

79 listings

In Contract

44 listings

Sold

175 listings

Average Price

$1.52M

$933k

$874k

Median Price

$1.07M

$677k

$675k

Days on market

128

130

89

Avg. Discount off Ask

5.4%

 

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

January 2024

February 2024

% Change

Average PPSF

$5,304

$5,299

-0.09%

Median PPSF

$5,192

$4,918

-5.57%

Average Price

$23.56M

$23.96M

1.67%

Median Price

$17.63M

$17.87M

1.34%

Days on market

242

202

-19.80%

Inventory

58

62

6.45%














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