OLSHAN LUXURY MARKET REPORT

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September 21-27, 2015

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

10 Contracts Signed

First came Yom Kippur, and then came the Pope—a one-two punch that brought the Manhattan luxury real estate market to its knees. Only 10 contracts were signed last week at $4 million and above. And now the question is, what will October bring?

The No. 1 contract was a townhouse at 22 East 78th Street, asking $12,500,000, reduced from $18.8 million when it went on the market in 2012. This 5-story, 15-foot-wide brownstone has 5,500 square feet including 4 bedrooms, 6 bathrooms, and 5 fireplaces. It was purchased for $8.1 million in 2005.

The No. 2 contract was apartment 40B at 45 East 22nd Street, asking $7.650 million. This duplex condo has 2 bedrooms and 2 bathrooms, and features a master suite with a dressing room and an office. The unit was sold off of floorplans in a new 65-story, 83-unit condo being designed by Kohn, Pedersen and Fox. The building has 5 floors of amenities including a fitness room, children’s playroom, golf simulator, library, and billiards and card rooms.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 21-27, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

1

0

Avg.Ask:$6,297,500

2

Condos

0

1

3

3

Avg.Ask:$5,812,143
Avg.$/sq.ft.:$2,797/sq.ft.
Avg.Size: 2,078sq.ft.

7

Condops *

0

0

0

0



0

Townhouses

1

0

0

0

Avg.Ask:$12,500,000
Avg.$/sq.ft.:$2,273/sq.ft.
Avg.Size:5,500sq.ft.

1

Totals

2

1

4

3

10

Total Weekly Asking Price Sales Volume: $65,780,000
Average Asking Price: $6,578,000
Median Asking Price: $5,852,500
Average Discount from Original Ask to Last Asking Price:12%
Average Days on Market:516
*Condop is a co-op with condo rules.

TO VIEW 9 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/15112797a918e7.htm


TO VIEW 1 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/1511260ebcdbee.htm

Donna Olshan
President
dso@olshan.com

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

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