OLSHAN LUXURY MARKET REPORT

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September 2-8, 2013

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

10 Contracts Signed

This was an easy bet to make. Considering that the Labor Day holiday on Monday was followed on Thursday and Friday by the 2-day Jewish New Year, Rosh Hashanah, the smart money was predicting that Manhattan’s luxury real estate market would take a one-week breather, failing to match the results of previous weeks. Sure enough, only 10 contracts were signed last week at $4 million and above.

The No.1 contract was apartment 14K at 15 Central Park West, asking $12,950,000. This is a 3-bedroom, 3.5-bathroom unit with 2,526 square feet and is a modest asking price for the most expensive condominium building in New York. Why? Because it faces 62nd Street and a courtyard. 15 CPW is a limestone structure designed by Robert A.M. Stern with a host of amenities, including a 14,000–square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

The No. 2 contract was 10B at 212 West 18th Street, asking $9,250,000. It is a 2-bedroom, 3-bath unit with a 1,250 square foot wraparound terrace in the highly-stylized Walker Tower Condominium, where there are just a handful of apartments remaining for sale. Amenities include doormen, concierge, library lounge with bar, children’s playroom, bike storage, fitness center with a yoga room, sauna, and a landscaped common roof deck with a dining area, sun lawn, observation area, and a covered cabana.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 2-8, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

0

1

0

0

Avg. Asking: $4,795,000

1

Condos

2

2

0

4

Avg.Asking:$6,958,125
Avg.$/sq.ft.:$3,070/sq.ft.
Avg.Size:2,267sqft.

8

Condops *

0

0

0

0



0

Townhouses

0

0

0

1

Avg.Asking:$6,750,000
Avg $/sq.ft.:$1,673/sq.ft.
Avg.Size:4,160sq.ft.

1

Totals

2

3

0

5

10

Total Weekly Asking Price Sales Volume: $67,210,000
Average Asking Price: $6,721,000
Median Asking Price: $6,700,000
Average Discount from Original Ask to Last Asking Price:1%
Average Days on Market:178
*Condop is a co-op with condo rules.

TO VIEW 9 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:
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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/131107a48e885b.htm

Donna Olshan
President
dso@olshan.com

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

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