OLSHAN LUXURY MARKET REPORT

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June 15-21, 2015

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

32 Contracts Signed

First, here’s hoping all of the Dads out there had a Happy Father’s Day on the first day of summer. Speaking of summer, here’s also hoping that the hot weather brings as many sales as the bitterly cold winter did. For the record, 32 contracts were signed last week at $4 million and above. Condos once again crushed co-ops by a score of 21 to 8. There were 3 townhouses in the mix, and one of them was among the most expensive ever to sell in Greenwich Village—and ended up the No. 1 contract of the week.

I’m talking about 16 East 10th Street, asking $38.5 million. Selling in only 69 days, it turned a whopper of a profit for developer David Amirian, who purchased the property for $11.2 million in May 2012 from Pen and Brush, a 100-year-plus women’s visual and literary arts club. This 5-story, 25-footer has 10,482 square feet that includes 5 bedrooms, 11 bathrooms, and 3 fireplaces. It features a 27-foot mosaic lap pool with adjacent Jacuzzi in the cellar.

The No. 2 contract was 2D at 443 Greenwich, asking $13 million. This 9-room duplex has 4,582 square feet including 3 bedrooms and 4 bathrooms. The building was a former factory, built in the 1880s, that was converted into a 53-unit condo and retains some of the original details, like large windows and huge shutters. Amenities include a lap pool, fitness center, garage with valet parking, a landscaped courtyard, and a roof deck.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
June 15-21, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

7

1

0

0

Avg.Ask: $7,027,500

8

Condos

4

4

5

8

Avg.Ask:$6,901,438
Avg.$/sq.ft.:$2,669/sq.ft.
Avg.Size:2,858sq.ft.

21

Condops *

0

0

0

0



0

Townhouses

0

1

0

2

Avg.Ask:$17,248,333
Avg.$/sq.ft.:$2,941/sq.ft.
Avg.Size:5,865sq.ft.

3

Totals

11

6

5

10

32

Total Weekly Asking Price Sales Volume: $252,895,200
Average Asking Price: $7,902,975
Median Asking Price: $5,860,000
Average Discount from Original Ask to Last Asking Price:0%
Average Days on Market:206
*Condop is a co-op with condo rules.

TO VIEW 29 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/150820f153fbf0.htm
http://media.realplusonline.com/webreports/15082017f5b55b.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/1508204387ee2a.htm

Donna Olshan
President
dso@olshan.com

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

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