OLSHAN LUXURY MARKET REPORT

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March 25-31, 2013

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

21 Contracts Signed

March Madness came to end in the Manhattan luxury real estate market. After successive weeks 43, 63, and 63 contracts signed at $4 million and above, 21 were signed last week. New construction condo sales off of floorplans bloated the month’s numbers, but they continued to make headlines: The top 2 contracts last week were both at 150 Charles Street

The No.1 contract was Apartment 9C, asking $29.5 million for a 5-bedroom duplex with 5.5 bathrooms and 5,644 square feet. The unit also has 2 planted terraces totaling an additional 2,727 square feet. The No. 2 contract was Apartment 8AS, asking $16.5 million for a 5-bedroom, 5.5-bathroom unit with 3,629 square feet and 2 planted terraces, which added another 1,178 square feet. These 2 contracts averaged $4,961/square foot.

150 Charles Street opened its sales office in the middle of February and is reporting 58 out of 91 units with contracts signed, averaging prices of $3,249/square foot. The 16-story building is constructed of brick and glass with 33,000 square feet of lush landscaping that borders the Hudson River. It is designed by Cook + Fox with interiors by Alan Wanzenberg. Amenities include concierge, parking garage, fitness center, and a 75-foot lap pool.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
March 25-31, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

1

0

0

Avg.Price:$6,374,000

5

Condos

1

2

0

12

Avg.Price:$9,749,600
Avg.$/sq.ft: $3,318/sq.ft.
Avg.Size: 2,938 sq.ft.

15

Condops *

0

0

0

0



0

Townhouses

0

1

0

0

Avg.Price:$6,995,000
Avg.$/sq.ft.:$1,658/sq.ft.
Avg.Size: 4,220 sq.ft.

1

Totals

5

4

0

12

21

Total Weekly Asking Price Sales Volume: $184,608,000
Average Asking Price: $8,790,857
Median Asking Price: $7,000,000
Average Discount from Original Ask to Last Asking Price:3%
Average Days on Market:178
*Condop is a co-op with condo rules.

TO VIEW 20 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/130530137c7cf4.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/130530d1d099ae.htm

Donna Olshan
President
dso@olshan.com

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

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