OLSHAN LUXURY MARKET REPORT

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January 13-19, 2014

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

21 Contracts Signed

Twenty-one contracts were signed last week, with condos outselling co-ops 17-3, and there was one brownstone in the mix.

The No.1 contract was apartment 6/7F at 655 Park Avenue, asking $16,850,000. This 5- bedroom co-op has 5 bathrooms and 2 powder rooms. The unit features a corner 34-foot, pine-paneled living room with a wood-burning fireplace and a 34-foot formal dining room with another wood-burning fireplace. Seven out of the 12 rooms face Park Avenue. In 1998, the apartment was renovated and 2 units were combined to make a duplex.

The No. 2 contract was a brownstone at 226 West 71st Street, asking $15.9 million, after starting on the market last May. This 6-story, 20-foot wide house was extensively renovated after being purchased in April 2011 for $5,175,000. The house has 9,400 square feet including a finished basement, 7 bedrooms, 6 bathrooms, and 3 powder rooms, plus a 30-foot garden and a dramatic rooftop terrace.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 13-19, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

0

0

0

Avg.Asking: $8,766,667

3

Condos

3

4

3

7

Avg.Asking:$6,580,882
Avg.$/sq.ft.:$2,491/sq.ft.
Avg.Size:2,642sq.ft.

17

Condops *

0

0

0

0



0

Townhouses

0

1

0

0

Avg.Asking:$15,900,000
Avg.$/sq.ft.:$1,692/sq.ft.
Avg.Size:9,400sq.ft.

1

Totals

6

5

3

7

21

Total Weekly Asking Price Sales Volume: $154,045,000
Average Asking Price: $7,335,476
Median Asking Price: $5,750,000
Average Discount from Original Ask to Last Asking Price:0%
Average Days on Market:142
*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/1403204313da95.htm


TO VIEW 1 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/1403200d5eac36.htm

Donna Olshan
President
dso@olshan.com

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

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