OLSHAN LUXURY MARKET REPORT

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November 22-28, 2010 NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4million and above November 22-28, 2010: Total Sales: 10

Thanksgiving is not a week to gauge the market or have great expectations. Many buyers, particularly in the luxury end of the market, go away and as we move towards Christmas there is a seasonal quality about the market. Christmas shopping does not necessarily translate to buying apartments. On the other hand, a flicker of a decent bonus season does stir the market. All things being considered, Thanksgiving week 2010 was pretty strong with 10 sales total - almost a typical average week. As usual, condos out sold co-ops 2-1. This is a trend we see almost every week even though the Manhattan inventory has three times as many co-ops as condos. The East Side won the week with 5 sales to 3 on the West Side and 2 Downtown. The other interesting thing about last week is the condo sales were large apartments averaging 8 rooms or 3,275 sq.ft.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above November 22-28,

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

1

4

Condos

2

3

1

$2,791/sq.ft.

6

Condops *

0

Townhouses

0

Totals: 10 Sales
*Condop is a co-op with condo rules.

To see the Apartment Listings Under Contract:
http://media.realplusonline.com/webreports/110120c82f8beb.htm

Donna Olshan
President
dso@olshan.com

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

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