OLSHAN LUXURY MARKET REPORT

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May 26-June 1, 2014

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

23 Contracts Signed

It was a short, post-Memorial Day week, but it was basically the same story: 23 contracts were signed last week at $4 million and above, as once again condos out sold co-ops (14 to 7). Two townhouses were in the mix. The top 2 contracts were apartments with terraces, which typically attract buyers when the weather warms up.

The No.1 contract was 1711 at 60 Riverside Boulevard, asking $13.9 million. The 5,998- square- foot unit is a spectacular duplex facing the Hudson River, with 6 bedrooms, a library, 7.5 bathrooms, and a 1,475-square-foot terrace. It is the last of the sponsor sales at the Aldyn Condominium, which has a 40,000-square-foot amenity space that features a large gym, pool, full-sized basketball court, squash court, 2-lane bowling alley, and a rock-climbing wall.

The No. 2 contract was Apartment 19J at 300 Central Park West, asking $8.55 million, reduced from $10.5 million when it went on the market in September. A 7-room unit in the Art Deco landmark co-op known as the El Dorado, it has 3 bedrooms, 4 bathrooms, a maid’s room, eat-in kitchen, and a wraparound terrace. It is positioned on the side of the building, and has some angled views of Central Park and the reservoir. The apartment is in very good condition, and was last sold in November 2011 for $6.25 million.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
May 26-June 1, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

2

0

4

Avg. Asking:$5,591,429

7

Condos

3

3

3

5

Avg.Asking:$6,239,943
Avg.$/sq.ft.:$2,431/sq.ft.
Avg.Size:2,566 sq.ft.

14

Condops *

0

0

0

0



0

Townhouses

0

2

0

0

Avg.Asking:$7,072,500
Avg.$/sq.ft.:$1,114/sq.ft.
Avg.Size:6,347sq.ft.

2

Totals

4

7

3

9

23

Total Weekly Asking Price Sales Volume: $140,640,000
Average Asking Price: $6,114,783
Median Asking Price: $5,650,000
Average Discount from Original Ask to Last Asking Price:3%
Average Days on Market:136
*Condop is a co-op with condo rules.

TO VIEW 21 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/14080118f5bf9b.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/1407316c6269dc.htm

Donna Olshan
President
dso@olshan.com

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

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