OLSHAN LUXURY MARKET REPORT

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October 12-18, 2015

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

31 Contracts Signed

The Manhattan luxury market registered its strongest stats since the middle of July. Thirty-one contracts were signed last week at $4 million and above, with condos crushing co-ops 24 to 5, and there were 2 townhouses in the mix.

The No. 1 contract was TH at 33 East 74th Street, a townhouse-style unit, asking $45 million. It is part of an assemblage of 9 brownstones that are being converted into a 10-unit condominium; the development is next to the former Whitney Museum. TH has 4 floors and 10,088 square feet including 5 bedrooms, 5 bathrooms, 3 powder rooms, plus a 536-square-foot terrace. The townhouse includes the original parlor floor and features 12-foot ceilings.

The No. 2 contract was the Penthouse at 66 East 11th Street, asking $30.5 million, reduced from $50 million when it went on the market in August 2013. This triplex has 7,693 square feet, 4 bedrooms, 4 bathrooms, 3 powder rooms, and a spectacular 2,300-square-foot roof-top terrace. The condo is in an 1897 former dress factory that was converted into a 5-unit boutique property by a developer called Delos, which markets itself as offering “wellness real estate.” The building advertises unique features: Vitamin C-infused showers, purified air and water systems, posture-supportive flooring, and a proprietary circadian lighting design. I kid you not.

Oh, and by the way, GO METS!

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 12-18, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

0

0

1

Avg.Ask:$7,731,000

5

Condos

4

2

4

14

Avg.Ask:$9,748,207
Avg.$/sq.ft.:$3,125/sq.ft.
Avg.Size: 3,110 sq.ft.

24

Condops *

0

0

0

0



0

Townhouses

1

1

0

0

Avg Ask:$11,622,500
Avg.$/sq.ft.:$1,873/sq.ft.
Avg.Size:6,206 sq.ft.

2

Totals

9

3

4

15

31

Total Weekly Asking Price Sales Volume: $295,856,960
Average Asking Price: $9,543,773
Median Asking Price: $6,154,990
Average Discount from Original Ask to Last Asking Price:9%
Average Days on Market:327
*Condop is a co-op with condo rules.

TO VIEW 29 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/151217adbc68d3.htm
http://media.realplusonline.com/webreports/151217eba39d89.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/15121697123ab0.htm

Donna Olshan
President
dso@olshan.com

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

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