OLSHAN LUXURY MARKET REPORT

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February 9-15, 2015

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

26 Contracts Signed

As the stock market hit record levels last week, the Manhattan luxury real estate market was setting records of its own. February is on a torrid pace, as 26 contracts were signed at $4 million and above. That makes a total of 58 for the first 2 weeks of this month, the highest number since we started keeping track in 2006.

The No.1 contract was a townhouse at 59 East 82nd Street, asking $15.8 million, reduced from $19.75 million when it went on the market in September 2012. This 18-foot-wide limestone-and-brick house has 8,165 square feet with 5 bedrooms, 6.5 baths, an elevator, and a 40-foot garden in back. It last sold for $12 million in 2008.

The No. 2 contract was 14B at 145 Hudson Street, asking $13.175 million, reduced from $13.6 million when it went on the market in January 2014. The unit is in the Skylofts Condominium, and has 4,120 square feet including 3 bedrooms and 3 bathrooms. It has river views and an expansive living room, dining room, and media room, all of which span 73 feet long.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
February 9-15, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

2

1

0

Avg.Asking:$8,669,000

5

Condos

5

1

1

11

Avg.Asking:$7,127,222
Avg.$/sq.ft.:$2,571/sq.ft.
Avg.Size:2,772 sq.ft.

18

Condops *

0

0

0

0



0

Townhouses

2

0

0

1

Avg.Asking:$9,550,000
Avg.$/sq.ft.:$1,883/sq.ft.
Avg.Size:5,072 sq.ft.

3

Totals

9

3

2

12

26

Total Weekly Asking Price Sales Volume: $200,285,000
Average Asking Price: $7,703,269
Median Asking Price: $6,850,000
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:234
*Condop is a co-op with condo rules.

TO VIEW 23 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/150416f8c70178.htm


TO VIEW 3 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/1504145fec8119.htm

Donna Olshan
President
dso@olshan.com

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

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