OLSHAN LUXURY MARKET REPORT

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January 20-26, 2014

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

12 Contracts Signed

The combination of low temperatures and low inventory seems to have had a chilling impact on Manhattan’s luxury real estate market: Only 12 contracts were signed last week at $4 million and above.

The No.1 contract was Apartment 2 at 102 Prince Street, asking $13.9 million. This renovated 4,500-square-foot loft has 14-foot ceiling, and is configured as 2 bedrooms, a library off the master, and a den with a stairs that lead to a media room. The condo also has 3.5 bathrooms and a large eat-in kitchen.

The No. 2 contract was the 6th floor at 560 West 24th Street, asking $8.5 million for a new 4-bedroom, 4-bathroom condo with 3,217 square feet. The unit has 10-foot ceilings, a combined living room and dining room that measures 18.5 x 38 feet, a study with a wood-burning-fireplace, and an 111-square-foot terrace off the kitchen. The apartment is in an 11-story, 8-unit condo that is being designed by Steven Harris and due to be completed by the end of the year.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 20-26, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

0

Avg.Asking:$6,995,000

1

Condos

1

0

1

6

Avg.Asking:$6,945,625
Avg.$/sq.ft.:$2,342/sq.ft.
Avg.Size:2,966sq.ft.

8

Condops *

0

0

0

1

Avg.Asking:$4,750,000
Avg.$/sq.ft.:$2,209/sq.ft.
Avg.Size:2,150sq.ft.

1

Townhouses

1

0

0

1

Avg.Asking:$6,875,000
Avg.$/sq.ft.:$1,518/sq.ft.
Avg.Size:4,529sq.ft.

2

Totals

3

0

1

8

12

Total Weekly Asking Price Sales Volume: $81,060,000
Average Asking Price: $6,755,000
Median Asking Price: $6,275,000
Average Discount from Original Ask to Last Asking Price:3%
Average Days on Market:206
*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/140327ddb0cb0f.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/140327f6f10cfd.htm

Donna Olshan
President
dso@olshan.com

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

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