OLSHAN LUXURY MARKET REPORT

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June 1-7, 2015

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

26 Contracts Signed

The No 1 and No.2 contracts signed last week at $4 million and above were in the same building, which is not as rare as you may think. So, dear reader, I am going to include the third-place finisher in this report. See if you can guess the seller. She is the ex-wife of a famous magazine editor/publisher who made his name by appealing to the counter-culture readers of the Baby Boom generation. Don’t peek.

The No.1 and No. 2 contracts were 67B and 58B at 157 West 57th Street, asking $29.5 million and $27 million, respectively. 67B has 4,116 square feet and 58B has 4,193 square feet. Both have 3 bedrooms and 3.5 bathrooms with Central Park views from each living room, formal dining room, and master. They are in One57, the building that holds the current NYC record for the most expensive unit ever sold --$100.5 million. Built above a 5-star Park Hyatt Hotel, this 90-story, 90-unit condo was designed by Pritzker Prize-winning architect Christian de Portzamparc. Amenities include use of hotel services, fitness center, pool, private dining, a library lounge, performance space, and garage.

The No. 3 contract was a brownstone at 37 West 70th Street, asking $17,950,000. This 20-foot wide, 5-story house is being sold by Jane Wenner, who co-founded Rolling Stone magazine with her ex-husband Jann Wenner. It has 7,200 square feet including 7 bedrooms, 4.5 bathrooms, and 9 fireplaces. The house does not have an elevator, but it features a garden off of a large ground-floor kitchen. The Wenners purchased the house in 1987 from the estate of fashion designer Perry Ellis, who had restored many of the original details.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
June 1-7, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

5

3

1

1

Avg.Ask:$5,654,000

10

Condos

3

3

2

6

Avg.Ask:$9,766,000
Avg.$/sq.ft.:$3,391/sq.ft.
Avg.Size:2,880sq.ft.

14

Condops *

0

0

0

0



0

Townhouses

1

1

0

0

Avg.Ask:$14,425,000
Avg.$/sq.ft.:$2,228/sq.ft.
Avg.Size:6,425 sq.ft.

2

Totals

9

7

3

7

26

Total Weekly Asking Price Sales Volume: $222,114,000
Average Asking Price: $8,542,846
Median Asking Price: $5,624,500
Average Discount from Original Ask to Last Asking Price:6%
Average Days on Market:350
*Condop is a co-op with condo rules.

TO VIEW 24 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/15080666661447.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/1508065b85842a.htm

Donna Olshan
President
dso@olshan.com

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

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