OLSHAN LUXURY MARKET REPORT

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June 8-14, 2015

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

28 Contracts Signed

Stat geek alert! More co-ops had contracts signed last week—13--than in any week so far this year. Even so, condos out sold co-ops at $4 million and above by the slimmest of margins: 14 to 13. One townhouse was also sold, bringing the week’s total to 28 contracts signed.

The No.1 contract was Apartment 8 at 145 West 11th Street, asking $19,150,000. This 4-bedroom, 4.5-bathroom apartment has 4,537 square feet, and features a combined 36-foot living and dining room, a library, and office, plus a loggia off of the eat-in kitchen and family room. The unit was sold off of floorplans in the Greenwich Lane condo that is being built as a complex of 5 buildings and 5 townhouses on the former St. Vincent’s Hospital site. To date, 87% of its 200 units are under contract, averaging $3,208/sq.ft. Amenities include concierge, doorman, fitness center, pool, children’s room, and garage.

The No. 2 contract was PHA at 33 West 56th Street, asking $15.5 million. This is a 3 bedroom, 3-bathroom condo with 3,365 square feet. It features terraces off both the living room and master.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
June 8-14, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

6

3

1

3

Avg.Ask:$6,033,846

13

Condos

1

1

3

9

Avg.Ask:$8,800,964
Avg.$/sq.ft.:$3,071/sq.ft.
Avg.Size:2,866sq.ft.

14

Condops *

0

0

0

0



0

Townhouses

0

0

0

1

Avg.Ask:$6,795,000
Avg.$/sq.ft.:$2,123/sq.ft.
Avg.Size:3,200sq.ft.

1

Totals

7

4

4

13

28

Total Weekly Asking Price Sales Volume: $208,448,500
Average Asking Price: $7,444,589
Median Asking Price: $6,122,500
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:200
*Condop is a co-op with condo rules.

TO VIEW 27 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/1508136e2b60a8.htm
http://media.realplusonline.com/webreports/15081322232423.htm

TO VIEW 1 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/1508139c6ceb85.htm

Donna Olshan
President
dso@olshan.com

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

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