OLSHAN LUXURY MARKET REPORT

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July 6-12, 2015

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

22 Contracts Signed

A New York real estate mogul may have stolen all the headlines last week—you know whom I am talking about--but in my little corner of the Manhattan luxury market, the news was 22 contracts were signed at $4 million and above.

The No. 1 contract was 10 West 10th Street, asking $23.95 million, reduced from $29.5 million when it went on the market in October 2012. This 5-story, Greek-revival-style house is 26-feet-wide and has 8,472 square feet. It was extensively renovated after being purchased for $11.5 million in 2006 by Eric Colombel and his philanthropist wife, Andrea Soros Colombel, daughter of billionaire George Soros. The house has 7 bedrooms, 8 bathrooms, an elevator, gym, and a 13 x 26-foot terrace off the top floor.

The No. 2 contract was PHA at 91 Central Park West, asking $18.5 million, reduced from $22.75 million when it went on the market in November 2014. This duplex co-op has 4 bedrooms, 4 bathrooms, and a 1,600-square-foot terrace, and features an oak-paneled living room and a library upstairs with a fireplace and stained glass windows.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
July 6-12, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

1

0

0

Avg Ask:$8,588,000

5

Condos

2

3

1

9

Avg.Ask:$5,509,067
Avg.$/sq.ft.:$2,428/sq.ft.
Avg.Size:2,269sq.ft.

15

Condops *

0

0

0

0



0

Townhouses

1

0

0

1

Avg.Ask:$15,415,000
Avg.$/sq.ft.:$2,571
Avg.Size:5,996 sq.ft

2

Totals

7

4

1

10

22

Total Weekly Asking Price Sales Volume: $156,406,000
Average Asking Price: $7,109,364
Median Asking Price: $5,850,000
Average Discount from Original Ask to Last Asking Price:8%
Average Days on Market:190
*Condop is a co-op with condo rules.

TO VIEW 20 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/150910237300fa.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/1509101b3d7e3f.htm

Donna Olshan
President
dso@olshan.com

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

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