OLSHAN LUXURY MARKET REPORT

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September 29-October 5, 2014

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

33 Contracts Signed

Once again, one building was responsible for the bulk of last week’s signed contracts at $4 million and above. Of the 33 sales, 15 were at 443 Greenwich Street. But there is a catch: The units went on sale on July 1, but the developers did not report the results until last week. The average price of the 15 units was $3,264/sq.ft..

The No. 1 contract was Penthouse B at 443 Greenwich Street, asking $27.5 million. This duplex is the third of 8 penthouses that have sold in the building. It has 5,588 square feet with 4 bedrooms, a family room, and library downstairs. Upstairs, there is a huge wraparound terrace that surrounds a living room and a kitchen that opens to a dining room. 443 Greenwich was bought in foreclosure in 2012 for $150 million. Built in the late 1880s in Tribeca, it is a former factory that features large windows with huge shutters, and is being converted into a 53-unit condo set for completion in 2016. Amenities include a lap pool, fitness center, garage with valet parking, a landscaped courtyard, and roof deck. Storage units, wine cellars, and 15 garage spots are available for sale.

The No. 2 contract was Penthouse 19W at 135 East 79th Street, asking $26.5 million. This duplex has 5,429 square feet including 5 bedrooms, 4.5 baths, and a 31-foot terrace off of the living room. Two penthouses are left ($16.950 to $18.850 million) in this 30-unit condo that completed construction less than a year ago. Designed by architect William Sofield, and developed by the Brodsky Organization, 135 East 79th Street is one of the most outstanding new condos to rise on the Upper East Side in recent years. Modeled after prewar buildings, the façade is a handsome limestone-and-brick design with a few accents of cast iron. The interiors have tasteful high-end finishes. The condo has a doorman, concierge, fitness center, resident’s lounge, and an attractive landscaped courtyard.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 29-October 5, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

0

1

0

1

Avg.Asking:$6,125,000

2

Condos

2

2

2

21

Avg.Asking:$11,324,778
Avg.$/sq.ft.:$3,211/sq.ft.
Avg.Size: 3,527sqft.

27

Condops *

0

0

0

0



0

Townhouses

0

0

0

4

Avg.Asking:$9,961,250
Avg.$/sq.ft.:$2,483/sq.ft.
Avg.Size: 4,012 sq.ft.

4

Totals

2

3

2

26

33

Total Weekly Asking Price Sales Volume: $358,364,000
Average Asking Price: $10,859,515
Median Asking Price: $8,850,000
Average Discount from Original Ask to Last Asking Price:1%
Average Days on Market:133
*Condop is a co-op with condo rules.

TO VIEW 29 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/141204be598937.htm
http://media.realplusonline.com/webreports/1412040b2bbab9.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/1412020fcda955.htm

Donna Olshan
President
dso@olshan.com

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

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