OLSHAN LUXURY MARKET REPORT

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



Subscribe | Unsubscribe


September 30-October 6, 2013

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

22 Contracts Signed

The Federal government may be shut down. The Yankees and Mets failed to make the playoffs, and the Giants are still searching for a win. But the Manhattan luxury market keeps rolling: 22 contracts were signed last week at $4 million and above.

The No.1 contract of the week was the 4th floor at 18 Gramercy Park asking $15,700,000, a price that was raised $975,000 from when it went on the market a year ago. The condo has 4,207 square feet, 4 bedrooms, 5.5 baths—along with views and a key to Gramercy Park. It is located in the new 16-unit condo from the team that developed 15 Central Park West: architect Robert A.M. Stern and developers Zeckendorf Realty. In August, a penthouse in the building closed for $42 million, bought by Houston Rockets owner Leslie Alexander; it was one of the most expensive apartments ever sold downtown.

The No. 2 contract was 8C at 737 Park Avenue, asking $10,875,000 after being on the market for a year. The building is in the process of being transformed from a rental to a condo by Macklowe Properties. This 3-Bedroom, 3.5-bathroom unit has 2,915 square feet and wraps around the corner of Park Avenue and 71st Street. The combined living room and dining room span 43 feet across Park Avenue.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 30-October 6, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

0

1

2

Avg.Asking:$5,740,714

7

Condos

4

1

2

5

Avg.Asking:$7,539,000
Avg.$/sq.ft.:$2,891/sq.ft.
Avg.Size:2,845sq.ft.

12

Condops *

0

1

0

0

Avg.Asking:4,900,000
Avg.$/sq.ft.:$1,750/sq.ft.
Avg.Size:2,800sq.ft.

1

Townhouses

0

1

1

0

Avg.Asking:$5,850,000
Avg.$/sq.ft.:$995/sq.ft.
Avg.Size:5,878

2

Totals

8

3

4

7

22

Total Weekly Asking Price Sales Volume: $146,288,000
Average Asking Price: $6,649,455
Median Asking Price: $5,800,000
Average Discount from Original Ask to Last Asking Price:1%
Average Days on Market:135
*Condop is a co-op with condo rules.

TO VIEW 20 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/1312062be61f2b.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/1312050558bae3.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