OLSHAN LUXURY MARKET REPORT

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February 3-9, 2014

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

18 Contracts Signed

The two snowstorms that hit Manhattan last week couldn’t bury the luxury real estate market: 18 contracts were signed at $4 million and above, with condos outselling co-ops 12 to 5. There was one townhouse in the mix.

The No.1 contract was PH3B at 150 Columbus Avenue, asking $16.5 million, reduced from $29 million when it went on the market 13 months ago. This duplex condo has 5 bedrooms, 6.5 baths, and 5,500 square feet with a 1,100 square foot terrace and spectacular views of the city and Lincoln Center. The living room is 37 feet in length and has a double-height ceiling.

The No. 2 contract was M4 at 150 West 12th Street, asking $15,770,000. This 6,299-square- foot duplex maisonette in the new Greenwich Lane condo has 5 bedrooms, 5.5 bathrooms, and a 986-square foot garden. Other features include 11- to 12-foot ceilings with a sitting room and loggia off the master bedroom. The Greenwich Lane is a 5-building condo complex being built by the Rudin Organization on the site of the former St. Vincent’s Hospital. Amenities include a doorman, concierge, health club, a 25-meter pool, garage, and storage. Completion of the complex is not expected for another 2 years.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
February 3-9, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

1

0

0

Avg.Asking:$5,909,000

5

Condos

0

4

1

7

Avg.Asking:$8,767,083
Avg.$/sq.ft.:$2,542/sq.ft.
Avg.Size:3,449sq.ft.

12

Condops *

0

0

0

0



0

Townhouses

0

1

0

0

Avg.Asking:$9,900,000
Avg.$/sq.ft.:$2,012/sq.ft.
Avg.Size:4,920sq.ft.

1

Totals

4

6

1

7

18

Total Weekly Asking Price Sales Volume: $144,650,000
Average Asking Price: $8,036,111
Median Asking Price: $5,937,500
Average Discount from Original Ask to Last Asking Price:8%
Average Days on Market:89
*Condop is a co-op with condo rules.

TO VIEW 17 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/140410d8a0d940.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/1404100a4a087e.htm

Donna Olshan
President
dso@olshan.com

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

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