OLSHAN LUXURY MARKET REPORT

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November 29-December 5, 2010

NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4million and above November 29-December 5, 2010: Total Sales: 21

It was a very good week - 21 contracts signed reflecting strengthening in the $4 million and up market. Condos and co-ops were tied 7-7. There were 6 townhouse sales and 1 condop sale. Downtown was the winner with 9 sales, 6 east, 4 west and 2 midtown.

The WOW Sale was at 1010 Fifth Apartment 10A, a 12-rm. duplex asking $16 million, reduced from $18.5 million from when it started on the market a year ago. The 1010 Fifth Avenue seller, Glenn Dubin of Highbridge Management, bought the old Jackie Kennedy apartment from David Koch at 1040 Fifth apartment 15A for $30 million in 2006.

Significant movement came in the Townhouse market. Six houses went under contract-- the biggest week since we started charting in August 2010. All the houses were asking below $9 million. Two houses sold on the Upper East, 2 Upper West and 2 Downtown. Interestingly, three of the six houses are re-sales from 2008 or later. The 17' foot wide house at 181 East 80th Street was asking $8.95 million--reduced from its closed sales price of $9.75 million in January 2010. The 15' house at 138 East 71st Street asking $7.25 million originally closed for $9,382,700 in December 2008. The other recent resale was 115 West 69th Street which was asking $7.995 million and was purchased in 2009 for $4.4 million. We will all be curious to see what these houses close for. The average asking price was $1,493/sq.ft.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above November 28-Dec 5, 2010

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

2

2

7

Condos

1

6

$2,183/sq.ft. Avg. size =. 3,189 sq. ft.

7

Condops *

1

$2,560/sq.ft Avg size=2,949 sq. ft

1

Townhouses

2

2

2

$1,493/sq.ft.

6

Totals

6

4

2

9

21

Totals: 21 Sales
*Condop is a co-op with condo rules.

To see the Apartment Listings Under Contract:
http://media.realplusonline.com/webreports/110204c44b1587.htm

To see the Townhouse Listings Under Contract:
http://media.realplusonline.com/webreports/110203e4a116d3.htm

Luxury Property Specialist:

Donna Olshan
President
dso@olshan.com

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

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