OLSHAN LUXURY MARKET REPORT

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October 26-November 1, 2015

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

28 Contracts Signed

The stock market just completed its best month in 4 years, but the Manhattan luxury real estate market has no new stats to boast about. Twenty-eight contracts were signed last week at $4 million and above, completing a so-so October performance.

The No. 1 contract was a townhouse at 32 East 74th Street, asking $15.9 million. It had been on and off the market since 2010 at various prices, once as high as $19.5 million. The house is notable for its modern architecture, designed by Swiss-born architect William Lescaze, a pioneer in the International-style modernism movement. Built in 1934, it is 20 feet wide with 6,500 square feet. The living room is on the top floor, accessible by elevator. The house was previously purchased for $12 million in 2008, and needs a renovation.

The No. 2 contract was a townhouse at 246 West 11th Street, asking $11.5 million. It is 20 feet wide with 2,400 square feet, and has been divided into 4 apartments. The house needs work, and can be expanded to approximately 3,888 square feet.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 26-November 1, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

4

0

0

Avg. Ask:: $5,995,800

5

Condos

7

0

2

10

Avg. Ask:$5,851,841
Avg.$/sq.ft.:$2,426/sq.ft
Avg.Size: 2,412 sq.ft.

19

Condops *

1

0

0

0

Avg.Ask:$5,000,000
Avg.$/sq.ft.:$1,694/sq.ft.
Avg.Size:2,952 sq.ft.

1

Townhouses

1

0

0

2

Avg.Ask:$13,000,000
Avg.$/sq.ft.:$2,651/sq.ft.
Avg.Size:4,903sq.ft.

3

Totals

10

4

2

12

28

Total Weekly Asking Price Sales Volume: $181,563,970
Average Asking Price: $6,484,428
Median Asking Price: $6,124,500
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:239
*Condop is a co-op with condo rules.

TO VIEW 25 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/151231e53848e1.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/1512313cf8355f.htm

Donna Olshan
President
dso@olshan.com

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

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