OLSHAN LUXURY MARKET REPORT

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October 21-27, 2013

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

38 Contracts Signed

Cold weather started moving into Manhattan last week, but it failed to have a chilling effect on the luxury real estate market: 38 contracts were signed at $4 million and above, including 11 at $10 million and above.

The No.1 contract was the 20th floor at 535 West End Avenue, asking $19.5 million. This 6-bedroom, 6.5- bathroom condo has 6,637 square feet and partial Hudson River views. The living room measures 20 x 28 feet, and has a gas-burning fireplace. Amenities in this 21-unit building include doormen, garage, an indoor swimming pool, fitness center, and a game room with billiards.

The No. 2 contract was the Penthouse at 1355 First Avenue, asking $16.5 million for a 4,541 square foot condo with 4 bedrooms and 4.5 bathrooms. The apartment also has 2 terraces totaling 1,344 square feet and ceilings that are over 11 feet. The unit is in a new condo called The Charles, on First Avenue between 72nd and 73rd Street, which reported 7 contracts signed starting at $7.325 million when it opened last week.. The Charles is a 32-story glass high rise with 29 units, most of them full floors. Amenities include a doorman, lounge, game room, fitness center, and each unit has storage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 21-27, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

5

1

0

2

Avg.Asking:$6,401,250

8

Condos

8

6

1

12

Avg.Asking:$8,041,716
Avg.$/sq.ft.:$2,472
Avg.Size:3,253sq.ft.

27

Condops *

1

0

0

0

Avg.Asking:$13,995,000
Avg.$/sq.ft.:$3,212sq.ft.
Avg.Size:4,357sq.ft.

1

Townhouses

1

0

0

1

Avg.Asking:$6,345,000
Avg.$/sq.ft.:$1,568sq.ft.
Avg.Sijze:4,046sq.ft.

2

Totals

15

7

1

15

38

Total Weekly Asking Price Sales Volume: $295,021,325
Average Asking Price: $7,763,719
Median Asking Price: $6,535,000
Average Discount from Original Ask to Last Asking Price:2%
Average Days on Market:68
*Condop is a co-op with condo rules.

TO VIEW 36 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/131227c6dbe977.htm
http://media.realplusonline.com/webreports/131227da5bccdc.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/1312279e152440.htm

Donna Olshan
President
dso@olshan.com

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

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