OLSHAN LUXURY MARKET REPORT

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September 14-20, 2015

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

20 Contracts Signed

Here’s a stat you rarely see: Of the 20 contracts signed last week at $4 million and above, the top 2 properties went for exactly the same price--$35 million.

One was 8A at 15 Central Park West, which sold immediately after listing. The unit has 4,565 square feet including 4 bedrooms and 5.5 bathrooms. The living room, library, and master face Central Park. It was purchased from the developer in 2008 for $16,994,592. 15 Central Park West is one of the most expensive condos in New York. It is a limestone structure designed by Robert A.M. Stern with a host of amenities including a 14,000-square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

The other was PHB at 551 West 21st Street. The 6,137-square-foot unit spans the entire 19th floor, and has 3 bedrooms, 3.5 bathrooms, 2 loggias, 11 ½-foot ceilings, and Hudson River views. This new High Line-area condo was designed by Foster+Partners, home of the Pritzker Prize-winning architect Sir Norman Foster. The entrance to the 19-story building features a gated drive-in court surrounded by a green wall and a 34-foot-tall lobby with prismatic glass. The condo opened for sale in March 2014, and is reporting 28 contracts signed out of 44 units, averaging $3,478/sq.ft.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 14-20, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

1

2

1

Avg.Ask:$7,308,000

5

Condos

3

2

3

7

Avg.Ask:$10,839,867
Avg.$/sq.ft.:$3,590/sq.ft.
Avg.Size:3,019sq.ft.

15

Condops *

0

0

0

0



0

Townhouses

0

0

0

0



0

Totals

4

3

5

8

20

Total Weekly Asking Price Sales Volume: $199,138,000
Average Asking Price: $9,956,900
Median Asking Price: $6,475,000
Average Discount from Original Ask to Last Asking Price:3%
Average Days on Market:270
*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/1511205f3810fc.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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