OLSHAN LUXURY MARKET REPORT

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November 18-24, 2013

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

23 Contracts Signed

You can’t argue with last week’s action in the Manhattan Luxury real estate--23 contracts were signed at $4 million and above, surpassing last year’s pre-Thanksgiving week when 19 properties went to contract.

The No.1 contract was apartment 16B at 21 East 61st Street, asking $25 million for a 10-room unit with 3 bedrooms, a library, and 4.5 bathrooms. It has 3,582 square feet, featuring an impressive 1,101-square foot terrace that wraps around most of the unit. The apartment has beautifully portioned rooms and includes a 33-foot living room and a 22-foot formal dining room. 16B is in the former Carlton House that is being converted from a rental to a condop by Extell Development. (A condop is a co-op with condo rules.)

The No. 2 contract was 56 Walker Street, asking $20 million, reduced from $22.5 million when it went on the market in February 2012. This is a 25-foot wide, 6-story, 1860s cast-iron building with 18,500 square feet that has been divided into 5 full-floor loft units. The ground floor is zoned for commercial space. It was purchased in 2003 for $3 million.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 18-24, 2013

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

1

0

2

Avg.Asking:$7,677,143

7

Condos

1

1

2

6

Avg.Asking:$5,929,500
Avg.$/sq.ft.:$2,683/sq.ft.
Avg.Size:2,260sq.ft.

10

Condops *

1

0

0

0

Avg.Asking:$25,000,000
Avg.$/sq.ft.:$6,979/sq.ft.
Avg.Size:3,582sq.ft.

1

Townhouses

1

2

0

2

Avg.Asking:$10,549,000
Avg.$/sq.ft.:$1,406/sq.ft.
Avg. Size: 7,504sq.ft.

5

Totals

7

4

2

10

23

Total Weekly Asking Price Sales Volume: $190,780,000
Average Asking Price: $8,294,783
Median Asking Price: $5,900,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:161
*Condop is a co-op with condo rules.

TO VIEW 18 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 5 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/140123caad9b60.htm

Donna Olshan
President
dso@olshan.com

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

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