OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


March 30-April 5, 2015

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

26 Contracts Signed

If rocker Jon Bon Jovi has been Livin’ on a Prayer, his prayers were finally answered. His condo was the Runaway hit last week of the 26 contracts signed in Manhattan at $4 million and above.

The No.1 contract was Bon Jovi’s PHM at 158 Mercer Street, asking $37.5 million, reduced from $42 million when it went on the market in early 2013. He paid $24 million for the Soho condo duplex in 2007. It has 7,452 square feet including 6 bedrooms, 2 kitchens, 2 fireplaces, a screening room, plus 3 landscaped terraces. The unit features 11-foot ceilings and arched windows.

The No. 2 contract was Apartment 201 at 1 Central Park South, asking $19.85 million, reduced from $25 million when it went on the market in August. This Plaza Hotel condominium has 4,283 square feet with 3 bedrooms, 1 maid’s room, and 4.5 bathrooms. The living room, formal dining room, and bedrooms all face Central Park. The owner paid $12 million for the unit in May 2009.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
March 30-April 5, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

1

Avg.Ask:$6,372,500

2

Condos

2

5

2

10

Avg.Ask:$8,503,158
Avg.$/sq.ft.:$2,774/sq.ft.
Avg.Size:3,065 sq.ft.

19

Condops *

0

0

0

0



0

Townhouses

2

0

0

3

Avg.Ask:$10,908,000
Avg.$/sq.ft.:$2,240/sq.ft.
Avg.Size: 4,870sq.ft.

5

Totals

5

5

2

14

26

Total Weekly Asking Price Sales Volume: $228,845,000
Average Asking Price: $8,801,731
Median Asking Price: $6,325,000
Average Discount from Original Ask to Last Asking Price:7%
Average Days on Market:200
*Condop is a co-op with condo rules.

TO VIEW 21 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/150605e5185154.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/1506045a39878e.htm

Donna Olshan
President
dso@olshan.com

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

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook