OLSHAN LUXURY MARKET REPORT

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May 5-11, 2014

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

38 Contracts Signed

We’ve got a tie for the second biggest week of the year in the Manhattan luxury real estate market. Ok, so it wasn’t the biggest week of the year, but 38 contracts were signed at $4 million and above—and that’s pretty fabulous.

The No.1 contract: was the Penthouse at 76 Crosby Street, asking $24.5 million for a 14-room condo that started on the market more than a year ago, on January 9, 2013 to be precise. Owned by talk-show host Kelly Ripa and her husband Mark Consuelos, the unit was purchased for $9.5 million in 2005 and then underwent a 2-year-renovation. The duplex has 12-foot-ceilings and 6,792 square feet of interior space that has been configured as 5 bedrooms and 4.5 baths. The upstairs includes a gym, guest room, and a spectacular 3,073-square-feet landscaped roof terrace that features a hot tub, shower, fireplace, and outdoor kitchen. 76 Crosby Street has a doorman and only 5 units. Common charges and real estate taxes total $15,241 per month.

The No. 2 contract was Penthouse 2 at 50 Riverside Boulevard, asking $20.66 million and sold off of floorplans. The condo has 6,168 square feet that includes 6 bedrooms and 8.5 bathrooms with the living room, formal dining room, eat-in kitchen, and master bedroom facing directly onto the Hudson River, though the Penthouse does not have a terrace. The building, known as One Riverside Park, is being developed by Extell with a robust package of amenities that include use of next door’s Aldyn condominium’s 40,000-square-foot fitness space, which features a large gym, pool, full-sized basketball court, squash court, 2-lane bowling alley, and a rock- climbing wall.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
May 5-11, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

5

5

0

0

Avg.Asking:$7,488,111

10

Condos

6

2

0

18

Avg.Asking:$7,715,231
Avg.$/sq.ft.:$2,877/sq.ft.
Avg. Size:2,769sq.ft.

26

Condops *

1

0

0

0

Avg.Asking:$7,600,000
Avg.$/sq.ft.:$3,193/sq.ft.
Avg.Size:2,380sq.ft.

1

Townhouses

0

1

0

0

Avg.Asking:$8,500,000
Avg.$/sq.ft.:$955/sq.ft.
Avg.Size:8,900sq.ft.

1

Totals

12

8

0

18

38

Total Weekly Asking Price Sales Volume: $291,804,250
Average Asking Price: $7,679,059
Median Asking Price: $6,225,000
Average Discount from Original Ask to Last Asking Price:2%
Average Days on Market:206
*Condop is a co-op with condo rules.

TO VIEW 37 CONTRACTS SIGNED ON APARTMENTS:
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http://media.realplusonline.com/webreports/140710c048e26f.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/14071012eac259.htm

Donna Olshan
President
dso@olshan.com

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

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