OLSHAN LUXURY MARKET REPORT

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July 27-August 2, 2015

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

24 Contracts Signed

Half of the 24 contracts that were signed last week in Manhattan at $4 million and above were reported by Toll Brothers in their new condo at 400 Park Avenue South. The No.1 and 2 contracts, however, were not among the 12 from that particular building.

The No. 1 contract was a townhouse at 167 East 71st Street, asking $11,995,000, reduced from $13,995,000 when it went on the market in February. This 5-story, 4,420-square-foot house is 16.67-feet wide, and was extensively renovated after being purchased in 2004 for $6.25 million. Designed and decorated by Jeffrey Bilhuber, it has 5 bedrooms, 5.5 bathrooms, and an elevator.

The No. 2 contract was the Penthouse at 41 Bond Street, asking $11.7 million; it sold within 5 weeks of being listed. This duplex condo has 2,700 square feet including 2 bedrooms and 2.5 bathrooms. The unit has 4 exposures and 1,500 square feet of outdoor space including 2 terraces and a balcony. It was purchased in 2011 for $8,196,912.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
July 27-August 2, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

0

Avg.Ask:$6,450,000

1

Condos

1

2

3

15

Avg.Ask:$6,090,899
Avg.$/sqft.:$2,856/sq.ft.
Avg.Size:2,133sq.ft.

21

Condops *

0

0

0

0



0

Townhouses

2

0

0

0

Avg.Ask:$9,995,000
Avg.$/sq.ft.:$2,236/sq.ft.
Avg.Size:4,470sq.ft.

2

Totals

4

2

3

15

24

Total Weekly Asking Price Sales Volume: $154,198,880
Average Asking Price: $6,424,953
Median Asking Price: $5,429,990
Average Discount from Original Ask to Last Asking Price:6%
Average Days on Market:251
*Condop is a co-op with condo rules.

TO VIEW 22 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/1510011f4dd61c.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/1510016208847d.htm

Donna Olshan
President
dso@olshan.com

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

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