OLSHAN LUXURY MARKET REPORT

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August 3-9, 2015

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

19 Contracts Signed

The Yankees and the Mets had a lot better week than the Manhattan luxury real estate market. You’d have to go all the way back to the last week in January to find a stat this low. Only 19 contracts were signed last week at $4 million and above. Condos out sold co-ops 15 to 4, and as you can see, there were no townhouses in the mix.

The No. 1 contract was the Penthouse at 55 Warren Street, asking $13,995 million, reduced from $16 million when it went on the market in April 2013. This duplex condo has 5,924 square feet including 4 bedrooms and 4.5 bathrooms, plus a 1,300-square-foot terrace with a swimming pool.

The No. 2 contract was PHB at 500 West 21st Street, asking $12.850 million, reduced from $16 million when the developer put it on the market in May. The unit has 3 bedrooms, 3.5 bathrooms, a den, fireplace, and a 400-square-foot terrace.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
August 3-9, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

3

Avg.Ask:$5,736,000

4

Condos

0

2

2

11

Avg.Ask:$7,634,333
Avg.$/sq.ft.:$2,850/sq.ft.
Avg.Size:2,870 sq.ft.

15

Condops *

0

0

0

0



0

Townhouses

0

0

0

0



0

Totals

1

2

2

14

19

Total Weekly Asking Price Sales Volume: $137,459,000
Average Asking Price: $7,234,684
Median Asking Price: $5,800,000
Average Discount from Original Ask to Last Asking Price:10%
Average Days on Market:255
*Condop is a co-op with condo rules.

TO VIEW 19 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/151008a1694bf0.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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