OLSHAN LUXURY MARKET REPORT

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



Subscribe | Unsubscribe


November 19-25, 2012

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

11 Contracts Signed

As is typical during Thanksgiving week, fewer contracts were signed at $4 million and above than in the previous week. For whatever reason—traveling to relatives, planning and shopping for a big turkey dinner, taking advantage of all the big sales—11 contracts were signed as opposed to 19 in the prior week. One interesting note: There were no co-op sales this week, and since Labor Day, condos have outsold co-ops 109-38 in this luxury space of the market.

The No.1 contract was movie star Harrison Ford’s penthouse—the 12th floor at 206 West 17th Street, asking $16 million. This 11-room condo with 5,664 square feet and a 2,331 square foot roof terrace has been on and off the market since December 2010. It has 3 bedrooms, 4.5 baths, library, office, gym, den, and an eat-in kitchen. It also features a 30 x 32-foot living room with a fireplace that opens onto a 24 x 17-foot dining room. The entertainment space has concrete floors with radiant heat. Monthly common charges and real estate taxes for the apartment are $15,269, though the 11-unit building has no amenities or services other than a video intercom system.

The No.2 contract was Penthouse 8 at 212 West 18th Street, asking $12,495,000. This is a duplex on the 20th and 21st floors of the new Walker Tower Condominium. It has 3 bedrooms, 4 baths, and 3,071 square feet. The living room has floor-to ceiling windows that open onto a 190-square- foot-terrace. This new 50-unit Art Deco building, which was originally built as an office for New York Telephone, opened for business at the end of June. The condo has high-end finishes and some very appealing features including ceiling heights from 12 to 15 feet and windows that are 8 to 10 feet in height and 5 feet wide. Many units have terraces and some have wood burning fireplaces. The building has a doorman, library, fitness center, and yoga room.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 19-25, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

0

0

0

0


0

Condos

4

3

0

2

Avg.Price:$2,310/sq.ft.
Avg.Size:3,225sq.ft.

9

Condops *

0

0

0

1

Avg.Price:$2,212/sq.ft.
Avg.Size:2,487/sq.ft.

1

Townhouses

1

0

0

0

Avg.Price:$1,174/sq.ft
Avg.Size:6,200sq.ft.

1

Totals

5

3

0

3

11

Total Weekly Asking Price Sales Volume: $79,822,000
Average Asking Price: $7,256,545
Median Asking Price: $5,500,000
Average Discount from Original Ask to Last Asking Price: 3%
Average Days on Market: 416
*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/1301258047fed8.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/13012493950a0f.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