OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


June 18-24, 2012

Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

11 Contracts Signed

Summer’s here, and the predictable seasonal slowdown seems to be upon us. Only 11 contracts were signed last week on luxury properties of $4 million and above. By comparison, last summer the weekly average stood at 10 contracts signed in the luxury market.

The No. 1 sale was the 23rd floor at 110 Central Park South, asking $18,995,000,reduced from $27 million when it started on the market in May 2011. The newly renovated unit has 4,184 square feet, configured as 5 bedrooms and 4.5 baths. The living room, dining room, kitchen, library, and master bedroom face Central Park. The building is a condop, which is a co-op with condo rules. The monthly maintenance is $13,621.

The No. 2 sale was apartment 12B at 400 West 12th Street, asking $10,500,000. This is a corner 3 bedroom that has 3.5 baths, 2,169 square feet, and sweeping Hudson River views including the Statue of Liberty. The unit is in the Superior Ink Condominium, the most expensive residential building Downtown, designed by Robert A.M.Stern, the same architect who designed 15 Central Park West, the most expensive building in New York.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
June 18-24, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

1

0

0


2

Condos

2

0

0

4

Avg.Price:$1,873/sq.ft.
Avg.Size:3,332sq.ft.

6

Condops *

0

0

1

0

Avg.Price:$4,540/sq.ft.
Avg.Size:4,184sq.ft.

1

Townhouses

1

0

0

1

Avg.Price:$1,067sq.ft.
Avg.Size:5,743sq.ft.

2

Totals

4

1

1

5

11

Total Weekly Asking Price Sales Volume: $81,935,000
Average Asking Price: $7,448,636
Median Asking Price: $5,995,000
Average Discount from Original Ask to Last Asking Price:10%
Average Days on Market:167
*Condop is a co-op with condo rules.

TO VIEW 9 CONTRACTS SIGNED ON APARTMENTS:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/120823ae6b3a1e.htm

TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/120823405d8012.htm

Donna Olshan
President
dso@olshan.com

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

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook