Charlar Acar - Licensed Real Estate Salesperson

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New Article: Should I Buy a Home Right Now?

"If you’re ready to become a homeowner, know that buying today can set you up for long-term success as your asset’s value (and your own net worth) is projected to grow with the ongoing home price appreciation."

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🗣For the week of July 4-10th

19 contracts were signed last week at $4 million and above in Manhattan, 7 fewer than the previous week. Condos outsold co-ops, 11-6, and 2 townhouses were in the mix.

Stat Geek Alert: The decline in the number of contracts is to be expected, considering the shortened July 4th week. In fact, the 10-year average of contracts signed at $4 million and above in the July 4th week is 18 contracts.

The No. 1 contract was a townhouse at 228 West 11th Street, asking $25 million when it was listed in the middle of May. This recently renovated 4-story, 25-foot-wide house has 6,454 square feet including 6 bedrooms, 5 bathrooms, and two offices. Its outdoor space totals 2,461 square feet including a garden with a gazebo and a hot tub. The house does not have an elevator, but it does have low real estate taxes--$36,162 per annum.

- Total Weekly Asking Price Sales Volume: $143,369,999

- Average Asking Price: $7,545,789

- Median Asking Price: $6,595,000

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

- Average Days on Market: 358

🗣For the week of June 27-July 3rd

26 contracts were signed last week at $4 million and above in Manhattan, six more than the previous week. Condos outsold co-ops, 20-3, and 3 townhouses were in the mix. It was a robust performance that showcased the resilience of the residential luxury market---particularly in light of the 20.6% decline in the S&P 500 in the first six months of this year. That marked the S&P 500’s worst performance since 1970. At the same time, the Nasdaq was down 30%.

The No. 1 contract was a townhouse at 17 West 9th Street, asking $13.995 million, reduced from $19,995,000 when it was listed a year ago. This 5-story, 26-foot-wide Italianate-style townhouse is configured as ground-floor commercial space with 6 rental units above it. Annual real estate taxes are $118,409.

- Total Weekly Asking Price Sales Volume: $203,225,000

- Average Asking Price: $7,816,346

- Median Asking Price: $7,572,500

- Average Discount from Original Ask to Last Asking Price: 4%

- Average Days on Market: 531

Report by:

🗣 For the week of June 20-26th

20 contracts were signed last week in Manhattan at $4 million and above, 8 more than the previous week. Condos outsold co-ops, 12 to 5, and 3 townhouses were in the mix.

Stat Geek Alert: The bounce back this week is encouraging, as this report has always considered a weekly total of 20+ contracts signed as the benchmark of a stable market. The housing frenzy at the start of 2021 thru early May averaged 30+ contracts per week, but those flush days are likely now over due to a bearish stock market, a rise in interest rates, inflation, and war.

The No. 1 contract was 10B at 1060 Fifth Avenue, asking $20 million; it has been on and off the market since 2016, starting at $65 million and cycling thru 4 brokerage firms. This 13-room co-op has 7 bedrooms and 5 bathrooms. A corner living room with 11-foot ceilings, a library, and formal dining room---all with wood-burning fireplaces---face Central Park and the reservoir. The building allows 50% mortgage financing and amenities include a state-of-the art gym with a lap pool, half-court basketball court, and a golf simulator.

- Total Weekly Asking Price Sales Volume: $154,270,000

- Average Asking Price: $7,713,500

- Median Asking Price: $5,500,000

- Average Discount from Original Ask to Last Asking Price: 2%

- Average Days on Market: 424

Report courtesy of

🗣 For the week of June 6th-12th

25 contracts were signed last week in Manhattan at $4 million and above, three fewer than the previous week. Surprisingly, the top three sales cracked $20 million, despite another miserable week in the stock market sparked by unrelenting inflation and rising interest rates.

The No. 1 contract was PH29 at 301 East 80th Street, asking $26.495 million, raised from $25 million when the unit was offered off of floorplans in the fall of 2019. The penthouse has 6,522 square feet including 6 bedrooms and 7.5 bathrooms. It has 13-foot ceilings and a terrace totaling 193 square feet that faces west. The unit is in the new Beckford Tower, a 31-story limestone condo with 72 residences that was designed by William Sofield. Amenities include doormen, a fitness center, a 65-foot swimming pool, half-court basketball, playroom, game room, and resident’s lounge.

- Total Weekly Asking Price Sales Volume: $205,380,000

- Average Asking Price: $8,215,200

- Median Asking Price: $5,795,000

- Average Discount from Original Ask to Last Asking Price: 2%

- Average Days on Market: 349

Report by

Looking forward to visiting Europe once again this Summer.

🗣For the week of May 30-June 5th

28 contracts were signed last week in Manhattan at $4 million and above, 7 more than the previous week, snapping a three-week decline in sales. The turnaround total is even sweeter when you consider it was realized in a Memorial Day-shortened week. Condos outsold co-ops, 20-4, and 4 townhouses were in the mix.

For the second time this year, the No. 1 slot went to a unit at 109 East 79th Street. This time it was 6W, asking $16.85 million. The condo has 4,140 square feet including 5 bedrooms and 5.5 bathrooms and features a 32-foot living room with ceiling heights of 17-6’. It is in a new 20-story, 31-unit condo designed by Steven Harris Architects; completion is expected by the fourth quarter of this year. Amenities include doormen, a regulation-size squash court that converts to a basketball court, a gym, golf simulator, game room, and a spa treatment center. Twenty-seven of the 31 units have sold with asking prices averaging $4,035/sq.ft.

- Total Weekly Asking Price Sales Volume: $190,409,000

- Average Asking Price: $6,800,321

- Median Asking Price: $6,130,000

- Average Discount from Original Ask to Last Asking Price: 3%

- Average Days on Market: 347

Sold & Closed!

Congratulations to my buyer who successfully purchased her “dream apartment” at a favorable price.

With effective and adequate representation, coupled with in-depth market knowledge & expertise, purchasing a home will not be an arduous process.

- 50 West Street Apt 43B
- 2 bed | 2.5 bath
- 1,513 square feet
- Original ask: $3,695,000
- Confirmed price: $3,475,000

Introspection attempt

🗣For the week of April 10-17th

- 41 contracts were signed last week in Manhattan at $4 million and above, two more than the previous week and the fourth time this year of 40 or more sales.

-Condos outsold co-ops, 29-7, and 4 townhouses were in the mix.

-Stat Geek Alert: Year-to-date, the luxury market has been averaging 4% negotiability from the original asking price to the last asking price before a property goes to contract. Last week that stat was 0% negotiability, something not seen since 2014.

-The No. 1 contract was the 46th floor at 111 West 57th Street, asking $30 million, raised from $28.5 million when it was listed off of floorplans in 2016. This condo has 4,492 square feet including 3 bedrooms and 3.5 bathrooms. A 50x21-foot great room with 14-foot ceilings overlooks Central Park. The 60-unit, 82-story building rises 1,428 feet on the former site of the Steinway & Sons piano store and is near completion. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance.

-Total Weekly Asking Price Sales Volume: $307,793,980

-Average Asking Price: $7,507,170

-Median Asking Price: $4,998,000

-Average Discount from Original Ask to Last Asking Price: 0%

-Average Days on Market: 541

🗣For the week of April 4-April 10th.

- 39 contracts were signed last week in Manhattan at $4 million and above, 8 more than the previous week.

-Condos outsold co-ops, 28-7, and 4 townhouses were in the mix.

- 19 out of the 28 condos were sold by developers.

For the first time since the end of September, a co-op took the top spot--- the 5th floor at 944 Fifth Avenue, asking $20 million, reduced from $25 million when it was listed in October. The seller, art dealer Robert Mnuchin (and father of former Treasury Secretary Steven Mnuchin), paid $20 million for the unit in January 2008. It is a full floor with 4 bedrooms, 3 bathrooms, and 3 powder rooms. A 42-foot living room and 20-foot master bedroom face Central Park. Amenities include a doorman, fitness room, and storage. The building only allows 33% mortgage financing.

- Total Weekly Asking Price Sales Volume: $297,079,000

-Average Asking Price: $7,617,410

-Median Asking Price: $5,995,000

-Average Discount from Original Ask to Last Asking Price: 5%

-Average Days on Market: 707

- 31 contracts were signed last week at $4 million and above in Manhattan, two fewer than the previous week.

- Condos outsold co-ops, 21-6, and 4 townhouses were in the mix.

- The No. 1 contract was a brownstone at 32 West 76th Street, asking $25.975 million, reduced from $27.5 million when it was listed in August 2021. The seller paid $10 million in 2014 and then gut renovated. This 7-story, 22-foot-wide house has 11,100 square feet including 6 bedrooms, 6 bathrooms, 3 powder rooms, and an elevator. It has over 2,200 square feet of outdoor space over multiple terraces, including a spectacular roof terrace with an outdoor kitchen. Other features are an indoor basketball court, recreation room, wine cellar, and a gym.

- Total Weekly Asking Price Sales Volume: $277,739,990

- Average Asking Price: $8,959,355

- Median Asking Price: $6,995,000

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

- Average Days on Market: 636

35 contracts were signed last week at $4 million and above, 6 fewer than the previous
week, whose total was a 2022 record. Condos outsold co-ops, 26-5, with 3 townhouses and 1
condop in the mix.

The No. 1 contract was PHW at 67 Franklin Street, asking $14.95 million; it started on the
market in July 2019.

This 4,568-square-foot penthouse duplex condo was built on top an
1881 cast iron building. It has 4 bedrooms, 5 bathrooms and a den, plus 4 terraces 1,374 square feet. A dramatic, 43-foot great room with 20-foot ceilings features sliding glass doors that open onto 2 of the terraces. This 13-unit condo, known as Cast Iron House, was designed by Pritzker Prize-winning architect Shigeru Ban.

Luxury Market Update for the week ending February 27th

- 34 contracts were signed last at $4M and above, 4 fewer than the pervious week

- Condos outsold co-ops 24-6 with 4 townhouses in the mix.

- First two months of 2022 registered 244 contracts signed at $4M and above- strongest beginning of any year since began keeping records since 2006.

- No. 1 contract signed was PHB at 1165 Madison Ave, asking $24.95M, which increased its price from original offering plan of $21.5M.

- The residence is a full-floor penthouse that features 5 bedrooms, 5.5 bathrooms with 4,784 interior square feet and two private terraces totaling 381 square feet.

- 1165 Madison, dubbed The Bellemont, contains 12 units on 13 floors. Designed by world-renowned architect Robert A.M Stern. Amenities include a concierge, fitness center, squash court, roof terrace, children’s playroom and screening room.
Only 1 unit remains.

Sold & Closed!

Congratulations to my buyers for managing to secure one of the final 1 bedroom/1.5 bath apartments in the highly coveted new development .
Although ‘discounts or concessions’ were no longer being considered, effective buyer representation and good relations with the sales office, have enabled us to procure this at a favorable price for my clients.
Who you work with matters.

- Last asking : $2,400,000
- Confirmed price: $2,300,000
- 1 Bed/1.5 Bath
- 984 square feet
- 20 year tax abatement

“We are all mortal until the first kiss and the second glass of wine.”

Reflection of happiness captured during a weekend in Alaçatı.

“Life is in color, but black and white is more realistic.”

Charlar Acar - Licensed Real Estate Salesperson updated their address.

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Not solely today but everyday, we must honor the incredible women who have come before us and celebrate their achievements.

Young men & women must continue to lead the charge for a more sustainable and equal world.

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