OLSHAN LUXURY MARKET REPORT

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July 13-19, 2015

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

35 Contracts Signed

Here’s what happens when Donald Trump the politician steals the thunder from Donald Trump the real estate mogul: News of a big condo sale in one of his buildings gets buried by political controversy.

Of the 35 contracts signed last week at $4 million and above, the No. 1 spot goes to PH24 at 502 Park Avenue, asking $24.995 million. This sponsor apartment in Trump Park Avenue has been on the market for 12 years at various prices, ranging from $17.5 to $35 million. The condo has 5 bedrooms, 7.5 bathrooms, and 6,192 square feet.

The No. 2 contract was the 16th floor at 25 North Moore Street, asking $16 million, reduced from $22.5 million when it went on the market in April 2014. This 6,939-square-foot condo has 4 bedrooms, 5.5 bathrooms, a media room, playroom, office, and laundry room. It was extensively renovated after being purchased in 2004 for $6.5 million.

For those of you keeping score, condos crushed co-ops by a huge margin: 31-4.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
July 13-19, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

2

1

0

Avg.Ask:$6,136,250

4

Condos

7

5

4

15

Avg.Ask:$7,272,694
Avg.$/sq.ft.:$2,829/sq.ft.
Avg.Size:2,571sq.ft.

31

Condops *

0

0

0

0



0

Townhouses

0

0

0

0



0

Totals

8

7

5

15

35

Total Weekly Asking Price Sales Volume: $249,998,500
Average Asking Price: $7,142,814
Median Asking Price: $5,575,000
Average Discount from Original Ask to Last Asking Price:8%
Average Days on Market:214
*Condop is a co-op with condo rules.

TO VIEW 35 CONTRACTS SIGNED ON APARTMENTS:
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http://media.realplusonline.com/webreports/150917a2edab5c.htm
http://media.realplusonline.com/webreports/15091774bfea31.htm

TO VIEW 0 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:

Donna Olshan
President
dso@olshan.com

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

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