LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
December 4-10, 2017

30 Contracts Signed

Thirty contracts were signed last week at $4 million and above, another healthy number as 2017 winds down. Wait, there’s more! Sales totaled $356.775,000, the highest dollar volume in a year. The biggest contributing factor: a shopping spree at 432 Park Avenue.

The No.1 contract was PH92A at 432 Park Avenue, asking $40,500,000. Rumor has it that the buyer also purchased two adjoining penthouse units: PH93B, asking $40,250,000, and PH92B, asking $40 million. The sponsor’s representative would not comment on the rumor or any other transactions in the building. Each condo has 3 bedrooms and 3 bathrooms; the A-line has 3,952 square feet and the B-line has 3,977 square feet. The units feature 12.5-foot ceilings and windows that measure 10 x10 feet. This new condo is 96 stories high with 106 units, a concrete-and-glass edifice designed by Rafael Vinoly that is 1,396 feet tall and can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining, parking, a garden, and a children’s playroom.

The No. 2 contract was PH1 at 150 Wooster Street, asking $35 million. This duplex penthouse has 4 bedrooms and 5.5 bathrooms with 6,770 square feet; it also has terraces that total 3,508 square feet, including a 1,868-square-foot roof terrace in this new 8-story, 6-unit condo. 150 Wooster, which has a doorman, has reported 4 signed contracts since October.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 0 0 1 Avg.Ask:
$7,500,000
4
Condos 0 4 8 10 Avg.Ask:
$12,889,773

Avg.$/sq.ft.:
$4,195/sq.ft.

Avg.Size:
3,073 sq.ft.
22
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 4 Avg.Ask:
$10,800,000

Avg.$/sq.ft.:
$2,419/sq.ft..

Avg.Size:
4,465 sq.ft.
4
TOTALS 3 4 8 15 30
Total Weekly Asking Price Sales Volume: $356,775,000
Average Asking Price: $11,892,500
Median Asking Price: $7,075,000
Average Discount from Original Ask to Last Asking Price: 3%
Average Days on Market: 483
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

© 2017
Donna Olshan and Olshan Realty
All Rights Reserved











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