OLSHAN LUXURY MARKET REPORT

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December 15-21, 2014

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

22 Contracts Signed

In the spirit of the holidays, the Manhattan luxury real estate market is looking like the gift that keeps on giving. A sleigh filled with a haul of 22 signed contracts at $4 million and above arrived last week. Condos out sold co-ops, 14 to 3, with 5 townhouses in the mix.

The No. 1 contract was 66A at 30 Park Place, asking $12,950,000. This 3,699-square-foot unit has 4 bedrooms, 5.5 bathrooms, a formal dining room, family room, and an eat-in kitchen. It will occupy half a floor in the new Four Seasons Hotel and Condo, an 80-story limestone building designed by Robert A.M. Stern; the bottom 22 floors of which will be dedicated to the hotel. The building won’t be completed for another 2 years. Sales started in June, and the condo is reporting that 82 of the 157 units, averaging $3,078/sq.ft., are under contract.

The No. 2 contract was a townhouse at 232 West 15th Street, asking $10,875,000. This 4-story, 22.5-foot-wide house has 5,700 square feet. It is divided into 3 units including a ground floor triplex that has 2 bedrooms, 4.5 bathrooms, and an indoor pool that opens onto a sunroom and a garden.

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

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

0

0

1

Avg.Asking:$5,613,333

3

Condos

0

4

0

10

Avg.Asking:$6,641,857
Avg.$/sq.ft.:$2,655/sq.ft.
Avg.Size:2,501sq.ft.

14

Condops *

0

0

0

0



0

Townhouses

1

0

1

3

Avg.Asking:$8,621,000
Avg.$/sq.ft.:$1,617/sq.ft.
Avg.Size: 5,331sq.ft.

5

Totals

3

4

1

14

22

Total Weekly Asking Price Sales Volume: $152,831,500
Average Asking Price: $6,946,886
Median Asking Price: $6,550,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:168
*Condop is a co-op with condo rules.

TO VIEW 17 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/15021963bcdd58.htm


TO VIEW 5 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/1502173713775f.htm

Donna Olshan
President
dso@olshan.com

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

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