OLSHAN LUXURY MARKET REPORT

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November 26-December 2, 2012

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

23 Contracts Signed

Deck the Halls, everyone: We are kicking off the holiday season with 23 contracts signed at $4 million and above, the best start going into December since we started keeping track in 2007.

The No.1 and No.2 contracts of the week were condos in Trump buildings. The top contract was Penthouse 90B at 845 United Nations Plaza, asking $17 million, reduced from $19.8 million when it went on the market in April. The unit has some of the most spectacular views of New York, including Central Park, the East River, and sweeping views south to the Atlantic Ocean. There are 4 bedrooms, 5.5 bathrooms and 5,428 square feet. The ceiling height is 15 ½ feet, and the room sizes include a 40-foot living room, 31-foot dining room, and a 27-foot corner master bedroom.

The No.2 contract was Penthouse 49/50C at 1 Central Park West, asking $16.4 million, reduced from $18 million when it went on the market in January. The unit is a duplex created by combining 2 apartments that face west with Hudson River views. This contemporary renovation has 4 bedrooms, 4.5 baths, and 4,266 square feet. There is a handsome staircase, a combined 38-foot living room/dining room, and a 26-foot master bedroom. The unit, which has appeared in Elle Décor, was purchased for $6.9 million in 2006 by fashion entrepreneur Andrew Rosen (Theory, Helmut Lang, Rag & Bone).

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 26-December 2, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

5

2

0

1


8

Condos

4

1

2

5

Avg.Price:$2,475/sq.ft.
Avg.Size:3,510sq.ft.

12

Condops *

0

0

0

1

Avg.Price:$2,128/sq.ft.
Avg.Size:3,240sq.ft.

1

Townhouses

1

0

0

1

Avg.Price:$1,134/sq.ft.
Avg.Size:3,728sq.ft.

2

Totals

10

3

2

8

23

Total Weekly Asking Price Sales Volume: $171,577,000
Average Asking Price: $7,459,870
Median Asking Price: $6,500,000
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:202
*Condop is a co-op with condo rules.

TO VIEW 21 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/1301312a3734a5.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/130130893c3d2f.htm

Donna Olshan
President
dso@olshan.com

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

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