OLSHAN LUXURY MARKET REPORT

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September 24-30, 2012

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

11 Contracts Signed

The luxury market was steady as it goes last week with 11 contracts signed at $4 million and above. Four of the 11 properties were at asking prices north of $10 million, wrapping up the best September—a 31% increase over the same period last year--since we started keeping score in 2007.

The No.1 contract was the Penthouse at 733 Park Avenue, asking $21 million. This 9-room duplex has approximately 4,250 square feet, and is configured as 3 bedrooms, 3.5 baths, a paneled library, and a recently renovated French-style country kitchen. The defining feature of the co-op is 3 landscaped terraces with spectacular views of Central Park and the city. The apartment is being sold by the estate of Ethel Allen, the late widow of financier Herb Allen.

The No.2 contract was Apartment 1601 at 60 Riverside Boulevard, asking $14,900,000. This 12-room duplex in the Aldyn condominium is the most expensive apartment sold this year on Riverside Boulevard. It has 6,758 square feet with 6 bedrooms, 8.5 baths, and a 101-foot long terrace. The unit has fabulous Hudson River views. The newly built Aldyn has 40,000 square feet of amenities including a 75-foot indoor pool, basketball court, bowling alley, rock climbing wall, children’s play room, and lounge facilities.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 24-30, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

0

0

0


2

Condos

2

2

1

2

Avg.Price:$2,144/sq.ft.
Avg.Size:3,349sq.ft.

7

Condops *

1

0

0

0

Avg.Price:$3,613/sq.ft.
Avg.Size:3,183sq.ft.

1

Townhouses

0

0

0

1

Avg.Price:$1,400sq.ft.
Avg.Size:5,000sq.ft.

1

Totals

5

2

1

3

11

Total Weekly Asking Price Sales Volume: $94,201,000
Average Asking Price: $8,564,545
Median Asking Price: $6,495,000
Average Discount from Original Ask to Last Asking Price:9%
Average Days on Market:363
*Condop is a co-op with condo rules.

TO VIEW 10 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/12112985bec87d.htm

TO VIEW 1 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/12112912df4656.htm

Donna Olshan
President
dso@olshan.com

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

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