LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 6-12, 2017

25 Contracts Signed

Twenty-five contracts were signed last week at $4 million and above, the 6th straight week of 20+ sales. Half of the properties were sold by developers in new construction. Condos outsold co-ops 19-3, and there were 3 townhouses in the mix.

The No. 1 contract was Loft 6 at 150 Wooster Street, asking $14.85 million. This is a full-floor loft in a new 6-unit condo in Soho. The apartment has 4,271 square feet including 4 bedrooms, 4.5 bathrooms, and an eat-in kitchen. A 34-foot living room with a fireplace and 2 bedrooms overlook Wooster. The building has a doorman.

The No. 2 contract was Unit 1 at 20 East 65th Street, asking $14.25 million, reduced from $17.5 million when it went on the market in February. It occupies 4 floors of a 25-foot-wide limestone townhouse that was converted to a 2-unit condo in 2005. Unit 1 has 4 bedrooms, 6.5 bathrooms, an eat-in kitchen, 3 fireplaces, and a small garden.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 0 1 1 Avg.Ask:
$5,113,333
3
Condos 5 1 4 9 Avg.Ask:
$7,543,056

Avg.$/sq.ft.:
$2,710/sq.ft.

Avg.Size:
2,784 sq.ftt.
19
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 1 0 2 Avg.Ask:
$11,233,333

Avg.$/sq.ft.:
$2,360/sq.ft..

Avg.Size:
4,759 sq.ft.
3
TOTALS 6 2 5 12 25
Total Weekly Asking Price Sales Volume: $193,240,000
Average Asking Price: $7,729,600
Median Asking Price: $6,762,500
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 554
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 22 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

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Donna Olshan and Olshan Realty
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