OLSHAN LUXURY MARKET REPORT

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December 1-7, 2014

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

31 Contracts Signed

We had a record-breaking month in November, and now look at this: A record 31 contracts were signed at $4 million and above in the first week of December. Luxury co-ops had their biggest week of the year, but condos still out sold them, 16-13. There were 2 townhouses in the mix.

The No.1 contract was 15E/15F at 211 Central Park West, asking $32.5 million, reduced from $36 million when it was listed in September. This sale featured two separate 8-room co-ops in the famed Beresford; they were offered for sale by separate owners. When combined, the unit will have a 100-foot terrace and 6 rooms overlooking Central Park. Apartment 15-E was owned by the late author and composer Mary Rodgers, who passed away in June. The building is known for its large prewar apartments and numerous celebrity owners, like John McEnroe and Jerry Seinfeld.

The No. 2 contract was 4/5A at 1021 Park Avenue, asking $14.5 million; it sold within 5 weeks of listing. This duplex co-op has 5 bedrooms, 5.5 bathrooms, an eat-in kitchen, and 3 wood-burning fireplaces. The living room, library, master and second bedroom face Park Avenue.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
December 1-7, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

7

2

2

2

Avg.Asking:$8,680,385

13

Condos

3

2

1

10

Avg.Asking:$6,469,688
Avg.$/sq.ft.:$2,526/sq.ft.
Avg.Size:2,562 sq.ft.

16

Condops *

0

0

0

0



0

Townhouses

2

0

0

0

Avg.Asking:$10,750,000
Avg.$/sq.ft.:$1,454/sq.ft.
Avg.Size:7,392sq.ft.

2

Totals

12

4

3

12

31

Total Weekly Asking Price Sales Volume: $237,860,000
Average Asking Price: $7,672,903
Median Asking Price: $5,750,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:216
*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/1502060f14258e.htm
http://media.realplusonline.com/webreports/15020668a7790a.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/1502051fdfd7f3.htm

Donna Olshan
President
dso@olshan.com

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

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