OLSHAN LUXURY MARKET REPORT

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September 15-21, 2014

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

36 Contracts Signed

The 28 properties that went to contract last week at $4 million and above was a September record. But hold on, that’s not the whole story. Another 8 contracts should actually be added to the total because 10 Madison Square West was late in reporting several sales. (By the way, only four out of 124 units in the condo remain unsold.)

Coincidentally, the top 3 contracts were at 10 Madison Square West. Units 18A, 18B, and 21B, ranging from $15.5 million to $18.5 million, were all sold off of floorplans These are 4- and 5-bedroom units, averaging $5,046/square feet, with terraces and views of Madison Square Park.

10 Madison Square West is the former Toy Building that was bought out of foreclosure by the Witkoff Group in 2011. Interiors, designed by Alan Wanzenberg, feature high-end finishes, a luxury appliance package, and ceiling heights over 10 feet. Amenities include doormen, concierge, and a 10,000-square-foot fitness center with a lap pool, yoga studio, and children’s playroom.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 15-21, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

3

1

1

Avg.Asking:$8,341,429

7

Condos

2

3

0

22

Avg.Asking:$8,169,259
Avg.$/sq.ft:$3,203/sq.ft.
Avg.Size: 2,550 sq.ft.

27

Condops *

0

0

0

0



0

Townhouses

0

0

0

2

Avg.Asking:$5,575,000
Avg.$/sq.ft:$1,770/sq.ft.
Avg.Size: 3,150sq.ft.

2

Totals

4

6

1

25

36

Total Weekly Asking Price Sales Volume: $290,110,000
Average Asking Price: $8,058,611
Median Asking Price: $6,400,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:209
*Condop is a co-op with condo rules.

TO VIEW 34 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/14112145dd644f.htm
http://media.realplusonline.com/webreports/141120dac7ae2e.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/141120bfa2e8bb.htm

Donna Olshan
President
dso@olshan.com

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

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