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 55 listings available, 9 in contract, and 41 successfully sold.
Luxury properties on 57th Street command an average price per square foot (PPSF), at $5,641, with a median PPSF of $5,043. The average luxury property price is $27.91 million, while the median price stands at $18.00 million.
Luxury properties tend to spend approximately 224 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 55 listings | In Contract 9 listings | Sold 41 listings |
|
| Average PPSF | $5,641 | $5,503 | $4,162 |
| Median PPSF | $5,043 | $5,453 | $4,082 |
| Average Price | $27.91M | $35.38M | $18.34M |
| Median Price | $18.00M | $34.00M | $13.50M |
| Days on market | 240 | 339 | 224 |
| 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 110 listings for sale, with 32 in contract and 160 successfully sold.
The PPSF for condos on 57th Street stands at $3,588, with a median PPSF of $2,275. The average condo price is $14.66 million, while the median price is $4.10 million.
With an average of 126 days on the market, condos on 57th Street sell relatively quickly. Moreover, buyers have negotiated an average discount of 13.1% off the asking price, presenting potential savings.
| For Sale 110 listings | In Contract 32 listings | Sold 160 listings |
|
| Average PPSF | $3,588 | $2,640 | $2,171 |
| Median PPSF | $2,275 | $1,729 | $1,544 |
| Average Price | $14.66M | $11.19M | $5.98M |
| Median Price | $4.10M | $1.67M | $1.94M |
| Days on market | 172 | 172 | 126 |
| Avg. Discount off Ask | 13.1% |
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 87 co-op listings available, with 50 in contract and 164 successfully sold.
Co-ops on 57th Street have a more moderate average price of $1.56 million, with a median price of $1.19 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 96 days on the market, indicating a swift sales process. Additionally, buyers have negotiated an average discount of 6.1% off the asking price, presenting potential savings.
| For Sale 87 listings | In Contract 50 listings | Sold 164 listings |
|
| Average Price | $1.56M | $958k | $905k |
| Median Price | $1.19M | $712k | $719k |
| Days on market | 113 | 105 | 96 |
| Avg. Discount off Ask | 6.1% |
57th Street Luxury Market ($5M and above)
Month to Month Inventory Comparison
| November 2023 | December 2023 | % Change |
|
| Average PPSF | $5,321 | $5,641 | 5.67% |
| Median PPSF | $4,665 | $5,043 | 7.50% |
| Average Price | $25.52M | $27.91M | 8.56% |
| Median Price | $15.25M | $18.00M | 15.28% |
| Days on market | 204 | 240 | 15.00% |
| Inventory | 58 | 55 | -5.45% |