OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


September 7-13, 2015

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

17 Contracts Signed

The combination of Labor Day and the Jewish Holidays is taking its toll on the Manhattan luxury real estate market. Only 17 contracts were signed last week at $4 million and above, making for a two-week total of 33 contracts signed. Don’t expect a spike in sales next week either, as Yom Kippur starts on September 22.

The No. 1 contract was Apartment F at 1110 Park Avenue, asking $19,250,000. This duplex has 5,702 square feet with 5 bedrooms and 5.5 bathrooms. It is on the 8th and 9th floors of a new 9-unit condo being built by the Toll Brothers. The apartment has a large living room and dining room facing Park Avenue, plus an eat-in kitchen outfitted with cabinets by Christopher Peacock. Four of the 5 bedrooms are downstairs, including a large master suite that also faces Park Avenue. Condo amenities include a concierge, gym, and storage.

The No. 2 contract was Unit 10 at 18 Gramercy Park South, asking $18.15 million, increased from $17.75 million when it went on the market in June 2013. The condo has 4,207 square feet, 4 bedrooms, and 5.5 baths, with views of and a key to Gramercy Park. It is one of a few apartments left in a new 16-unit condo from the team that developed 15 Central Park West: architect Robert A.M. Stern and developers Zeckendorf Realty.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 7-13, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

1

0

0

Avg.Ask:$7,347,500

4

Condos

1

0

2

7

Avg.Ask:$9,362,997
Avg.$/sq.ft.:$2,949/sq.ft.
Avg.Size:3,175sq.ft.

10

Condops *

0

0

0

0



0

Townhouses

1

1

0

1

Avg.Ask:$8,283,333
Avg.$/sq.ft.$1,719/sq.ft.
Avg.Size:4,818sq.ft.

3

Totals

5

2

2

8

17

Total Weekly Asking Price Sales Volume: $147,869,970
Average Asking Price: $8,698,234
Median Asking Price: $6,575,000
Average Discount from Original Ask to Last Asking Price:7%
Average Days on Market:343
*Condop is a co-op with condo rules.

TO VIEW 14 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/1511139b62b115.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/15111214b6e0f9.htm

Donna Olshan
President
dso@olshan.com

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

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook