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March 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.


Diagram of market Report findings


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 63 listings available, 8 in contract, and 40 successfully sold.


Luxury properties on 57th Street command an average price per square foot (PPSF), at $5,227, with a median PPSF of $4,879. The average luxury property price is $23.91 million, while the median price stands at $18 million.


Luxury properties tend to spend approximately 239 days on the market before being sold. Buyers have negotiated an average discount of 17.7% off the asking price, offering potential investment opportunities.


For Sale

63 listings

In Contract

8 listings

Sold

40 listings

Average PPSF

$5,227

$7,420

$4,469

Median PPSF

$4,879

$8,060

$4,206

Average Price

$23.91M

$56.15M

$19.24M

Median Price

$18.00M

$45.13M

$13.55M

Days on market

172

111

239

Avg. Discount off Ask

17.70%

 

57th Street Condos (all price points)


Explore the diverse selection of condos available on 57th Street, catering to various price points. Currently, there are 114 listings for sale, with 34 in contract and 158 successfully sold.


The PPSF for condos on 57th Street stands at $3,603 with a median PPSF of $2,596. The average condo price is $13.75 million, while the median price is $5.75M million.


With an average of 134 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

114 listings

In Contract

34 listings

Sold

158 listings

Average PPSF

$3,603

$2,916

$2,310

Median PPSF

$2,596

$1,711

$1,622

Average Price

$13.75M

$14.98M

$6.13M

Median Price

$5.77M

$2.48M

$1.86M

Days on market

134

139

134

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 94 co-op listings available, with 44 in contract and 177 successfully sold. Co-ops on 57th Street have a more moderate average price of $1.47 million, with a median price of $1.09 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 87 days on the market, indicating a swift sales process. Additionally, buyers have negotiated an average discount of 5% off the asking price, presenting potential savings.

For Sale

94 listings

In Contract

44 listings

Sold

177 listings

Average Price

$1.47M

$992k

$849k

Median Price

$1.09M

$710k

$651k

Days on market

116

97

87

Avg. Discount off Ask


5.00%

 

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

February 2024

March 2024

% Change

Average PPSF

$5,299

$5,227

-1.38%

Median PPSF

$4,918

$4,879

-0.80%

Average Price

$23.96M

$23.91M

-0.21%

Median Price

$17.87M

$18.00M

0.72%

Days on market

202

172

-17.44%

Inventory

62

63

1.59%














1 則留言


訪客
4月04日

Another insightful market report. Thank you!

按讚
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