OLSHAN LUXURY MARKET REPORT

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May 13-19, 2013

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

22 Contracts Signed

Twenty-two contracts were signed last week at $4 million and above. A solid performance, but here’s a stat to ponder: For the second time this year, and for the second time in three weeks, prewar co-ops scored another perfecta, taking the No. 1 and 2 spots among all contracts signed. Inventory still remains tight. According to Urbandigs.com, inventory thru the entire marketplace is down 26% over last year at this time.

The No. 1 contract was the 7th floor at 910 Park Avenue, asking $12.8 million. This is a designer-decorated 12-room co-op with over 4,600 square feet including a 30-foot entrance gallery, 3 bedrooms, a library, 4.5 bathrooms, and a huge eat-in kitchen--all in excellent condition. The living room, library, and master bedroom face Park Avenue.

The No. 2 contract was a 5-room co-op on the 34th-floor of 781 Fifth Avenue, asking $11,240,000. This 2 bedroom, 3-bathroom unit is in the tower of the Sherry Netherland Hotel, and sold within 2 weeks of listing. The living room, master bedroom, and sitting room face Central Park. Amenities include twice-daily maid service that pushes the monthly maintenance to $19,848.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
May 13-19, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

3

0

0

Avg. Asking: $8,004,833

6

Condos

2

1

0

7

Avg.Asking:$5,178,000
Avg.$/Sq.Ft.:$2,245/sq.ft.
Avg.Sq.Ft.: 2,307 sq.ft.

10

Condops *

3

0

0

0

Avg.Asking:$6,300,000
Avg.$/sq.ft.: $3,598/sq.ft.
Avg.Sq.Ft.: 1,751 sq.ft.

3

Townhouses

1

1

0

1

Avg.Asking:$6,399,000
Avg.$/Sq.ft: $1,965/sq.ft.
Avg.Sq.Ft.: 3,257 sq.ft.

3

Totals

9

5

0

8

22

Total Weekly Asking Price Sales Volume: $138,106,000
Average Asking Price: $6,277,545
Median Asking Price: $5,250,000
Average Discount from Original Ask to Last Asking Price:0%
Average Days on Market:103
*Condop is a co-op with condo rules.

TO VIEW 19 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/13071953a917a5.htm


TO VIEW 3 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/130717bd616b9f.htm

Donna Olshan
President
dso@olshan.com

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

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