OLSHAN LUXURY MARKET REPORT

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August 6-12, 2012

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

11 Contracts Signed

There were no gold medals or home runs in the luxury market last week. Of the 11 contracts signed, 7 were between $4 and $5 million. The top 3 sales were townhouses, and of those, the No. 1 contract was 152 Waverly Place, asking $12 million after having been on the market for 2 years, starting at 10% higher.

152 Waverly Place is a 22-foot-wide Greek Revival house built in 1839. It has 11 rooms and 5,544 square feet with 5 bedrooms, 5 bathrooms, 2 powder rooms, a garden, and a roof terrace. The house was renovated in 1999 and is in excellent shape but lacks an elevator.

The No. 2 contract was a 21-foot-wide brownstone at 105 East 37th Street, asking $6,950,000.The 8,295 square foot house is divided into a triplex with a medical office and 4 rental apartments upstairs. It went to contract within 2 weeks of listing.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
August 6-12, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

1


2

Condos

2

0

2

2

Avg.Price:$1,789/sq.ft.
Avg.Size:2,647sq.ft.

6

Condops *

0

0

0

0


0

Townhouses

0

1

1

1

Avg.Price:$1,268/sq.ft.
Avg.Size:6,362sq.ft.

3

Totals

3

1

3

4

11

Total Weekly Asking Price Sales Volume: $61,295,000
Average Asking Price: $5,572,273
Median Asking Price: $4,500,000
Average Discount from Original Ask to Last Asking Price:8%
Average Days on Market:278
*Condop is a co-op with condo rules.

TO VIEW 8 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/12101179e75edb.htm

TO VIEW 3 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/121011a9cb7af1.htm

Donna Olshan
President
dso@olshan.com

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

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