OLSHAN LUXURY MARKET REPORT

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April 27-May 3, 2015

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

34 Contracts Signed

Floyd Mayweather easily handled Manny Pacquiao in their championship fight, and earned an estimated $200 million. His nickname is “Money,” and he likes to throw around $100 bills. Think about it: Is the Manhattan luxury real estate market made for this guy or what? He could have used his chump change to buy any one of the 34 properties that went to contract last week at $4 million and above.

The No.1 contract was 39 West 10th Street, asking $19 million. This 25-foot Greek Revival townhouse is being delivered as a gutted-out shell with a set of NYC Department of Buildings approved floorplans. The floorplans were designed by noted architect Steven Harris. The asking price translates to $4,439/sq.ft. for the privilege of taking on a big renovation project. Nevertheless, this particular block is one of the prettiest in Greenwich Village.

There was a tie for the No. 2 contract—both asking $15.5 million: Unit 4 at 62 Cooper Square, and a townhouse at 184 East 64th Street.

Unit 4 is a duplex penthouse in the Carl Fischer building. It has 4,916 square feet with 4 bedrooms, 3.5 bathrooms, and a 1,662- square-foot roof garden. The condo has a sleek modern design that features a 50-foot living room with a fireplace, an open kitchen with Boffi cabinets, and a dramatic glass staircase that leads to a large master suite.

184 East 64th Street is a townhouse comprised of a triplex and duplex condominium apartments that need to be combined. The house has 8,575 square feet, and can be expanded to 11,575 square feet.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 27-May 3, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

4

0

2

Avg.Ask:$7,092,222

8

Condos

5

4

5

8

Avg.Ask:$7,971,227
Avg.$/sq.ft.:$2,622/sq.ft.
Avg.Size: 3,040sq.ft.

22

Condops *

1

0

0

0

Avg.Ask:$7,995,000
Avg$/sq.ft.:$2,757/sq.ft.
Avg.Size:2,900 sq.ft.

1

Townhouses

2

0

0

1

Avg.Ask:$14,166,667
Avg.$/sq.ft.:$2,647/sq.ft.
Avg.Size:5,352sq.ft.

3

Totals

10

8

5

11

34

Total Weekly Asking Price Sales Volume: $281,215,775
Average Asking Price: $8,271,052
Median Asking Price: $7,122,500
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:191
*Condop is a co-op with condo rules.

TO VIEW 31 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/15070272e60ac5.htm
http://media.realplusonline.com/webreports/1507027c471577.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/1507025d4b6ea7.htm

Donna Olshan
President
dso@olshan.com

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

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