OLSHAN LUXURY MARKET REPORT

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August 4-10, 2014

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

24 Contracts Signed

If August is suppose to be the Dog Days of Summer, then last week’s activity in Manhattan’s luxury real estate market showed that these dogs can hunt. Twenty-four contracts were signed at $4 million and above, a record for the first week in August since we started keeping track in 2007.

The No.1 contract was the Penthouse at 1136 Fifth Avenue, asking $30 million. This spectacular 12-room duplex includes 4 bedrooms, 5.5 bathrooms, huge terraces, 3 fireplaces, and glorious views of Central Park and the reservoir. The apartment is owned by Warner Music CEO Stephen Cooper, who purchased it in 2004 for $20 million.

The No. 2 contract was 62 Bethune, also known as Townhouse 5, at 400 West 12th Street, asking $14 million. This 4-story townhouse has 4,865 square feet including 7 bedrooms, 7.5 bathrooms, an elevator, a landscaped garden, and a 41-foot roof terrace. Designed by Robert A.M. Stern, it is part of the Superior Ink Condominium, and offers the condo’s services including concierge, fitness center, and children’s playroom. The townhouse can also be accessed thru the condo’s lobby and garage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
August 4-10, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

1

1

Avg.Asking:$14,733,333

3

Condos

2

1

0

14

Avg.Asking:$5,919,118
Avg.$/sq.ft.:$2,603/sq.ft.
Avg.Size:2,274sq.ft.

17

Condops *

0

0

0

0



0

Townhouses

0

0

2

2

Avg.Asking:$9,275,000
Avg.$/sq.ft.:$2,194/sq.ft.
Avg.Size: 4,228sq.ft.

4

Totals

3

1

3

17

24

Total Weekly Asking Price Sales Volume: $181,225,000
Average Asking Price: $7,551,042
Median Asking Price: $5,700,000
Average Discount from Original Ask to Last Asking Price:2%
Average Days on Market:234
*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/14101048867564.htm


TO VIEW 4 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/14100958e8149b.htm

Donna Olshan
President
dso@olshan.com

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

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