OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


September 9-15, 2013

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

14 Contracts Signed

News Flash: For the first time this year, an entire week passed without a single co-op going to contract at $4 million and above. In all, 10 condos and 4 townhouses comprised last week’s luxury market activity.

The No.1 contract was the 8th floor at 40 Bond Street, asking $25 million, reduced from $27 million when it went on the market in April. It was purchased 6 years ago for $17,972,112. The unit has 5,364 square feet including 4 bedrooms, 4 bathrooms, 11-foot ceilings, and a landscaped terrace spanning approximately 130-feet across the front of the building. 40 Bond is an 11-story, 26-unit condo designed by Pritzker Prize winning architects Herzog & de Meuron. It is known for its outstanding contemporary design including a green-glass-molded façade and a graffiti-inspired, sculptured-metal entrance. Herzog & de Meuron designed the Beijing Olympic Stadium that was dubbed the “Bird’s Nest” and the Tate Modern Museum in London. They are also the architects for the new, almost-sold-out condo at 56 Leonard Street.

The No. 2 contract was 26B at 15 Central Park West, asking $16,888,000. This 2-bedroom, 2.5-bath unit has 2,367 square feet with a 27-foot living room and a 20-foot formal dining room facing Central Park. It was purchased in 2008 for $11,850,000. 15 Central Park West is the most expensive condominium in New York. It 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.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 9-15, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

0

0

0

0


0

Condos

2

4

1

3

Avg.Asking:$10,308,300
Avg.$/sq.ft.:$2,440/sq.ft.
Avg.Size:4,225sq.ft.

10

Condops *

0

0

0

0



0

Townhouses

1

0

0

3

Avg.Asking:$8,111,250
Avg.$/sq.ft.:$1,399/sq.ft.
Avg.Size:5,800sq.ft.

4

Totals

3

4

1

6

14

Total Weekly Asking Price Sales Volume: $135,528,000
Average Asking Price: $9,680,571
Median Asking Price: $7,425,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:214
*Condop is a co-op with condo rules.

TO VIEW 10 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/13111463d2895a.htm


TO VIEW 4 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/131114e54b97b8.htm

Donna Olshan
President
dso@olshan.com

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

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook