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.

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Donna Olshan
President
dso@olshan.com

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

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