OLSHAN LUXURY MARKET REPORT

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October 5-11, 2015

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

21 Contracts Signed

The Manhattan luxury real estate market registered a nice bounce in signed contracts last week, following 2 weeks of sluggish sales. Twenty-one contracts were signed at $4 million and above, with the top 6 deals located Downtown.

The No. 1 contract was a contemporary townhouse at 156 Reade Street, asking $13.995 million, reduced from $16 million when it started on the market in September 2014. This 6,800-square-foot house has 5 bedrooms and 4.5 bathrooms, and features a living room with a double-height ceiling, glass staircase, and a spectacular rooftop terrace. It was renovated in the early 2000s using green construction including a geothermal heating and cooling system, water filtration, and a sidewalk outfitted with radiant heat to facilitate snow and ice removal. The house was last sold in 2006 for $7.7 million.

The No. 2 contract was PHB at 415 Greenwich Street, asking $12 million. This condo duplex has 4,470 interior square feet and terrace space totaling 2,766 square feet. It is being sold as a raw white box with a set of architect’s plans that allow for 6 bedrooms and 5.5 bathrooms. And check this out: The unit just closed in March for $7,744,000.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 5-11, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

1

1

0

Avg. Ask:$5,379,000

5

Condos

0

2

2

10

Avg.Ask:$6,548,892
Avg.$/sq.ft.:$2,447/sq.ft.
Avg.Size: 2,676sq.ft.

14

Condops *

0

0

0

0



0

Townhouses

1

0

0

1

Avg.Ask:$10,872,500
Avg.$/sq.ft.$1,899/sq.ft.
Avg.Size:5,724sq.ft.

2

Totals

4

3

3

11

21

Total Weekly Asking Price Sales Volume: $140,324,490
Average Asking Price: $6,682,119
Median Asking Price: $5,750,000
Average Discount from Original Ask to Last Asking Price:3%
Average Days on Market:207
*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/15121002ced28b.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/15121069b0609d.htm

Donna Olshan
President
dso@olshan.com

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

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