OLSHAN LUXURY MARKET REPORT

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September 16-22, 2013

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

12 Contracts Signed

Seems like the luxury real estate market in Manhattan is still suffering from a hangover brought on by an early September rash of holidays. A measly 12 contracts were signed at $4 million and above last week including 6 condos, 3 co-ops, 2 townhouses and 1 condop. Nothing sold above $10 million.

The No.1 contract was Apartment 4C at 71 Laight Street, asking $9.750 million. This is a 5-bedroom, 5.5-bathroom unit with 3,708 square feet. It is in the Sterling Mason, a 1905 masonry warehouse that was recently converted into a condo with a doorman, fitness center, children’s playroom, and garage.

The No. 2 contract was Apartment 28A at 188 East 76th Street, asking $8,595,000. This 3,907 square unit occupies the entire 28th floor of the Siena condo. It has 9 rooms including 5 bedrooms, 4.5 bathrooms, a library, a formal dining room, and spectacular views of the city. The building has a concierge, doorman, fitness center, and children’s playroom.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 16-22, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

1

0

1

Avg.Asking:$6,048,333

3

Condos

3

0

0

3

Avg.Asking:$6,970,000
Avg.$/sq.ft: $2,141/sq.ft.
Avg.Size: 3,256sq.ft.

6

Condops *

0

0

1

0

Avg.Asking:$6,500,000
Avg.$/sq.ft.:$3,515/sq.ft.
Avg.Size:1,849sq.ft.

1

Townhouses

1

0

0

1

Avg.Asking:$7,497,000
Avg.$/sq.ft.:1,578/sq.ft.
Avg.Size:4,750sq.ft.

2

Totals

5

1

1

5

12

Total Weekly Asking Price Sales Volume: $81,459,000
Average Asking Price: $6,788,250
Median Asking Price: $6,747,500
Average Discount from Original Ask to Last Asking Price:1%
Average Days on Market:119
*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/131122daa6bc65.htm


TO VIEW 2 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/13112154f2dc27.htm

Donna Olshan
President
dso@olshan.com

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

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