OLSHAN LUXURY MARKET REPORT

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November 2-8, 2015

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

37 Contracts Signed

After a tepid couple of months in the Manhattan luxury real estate market, November started out with a bang: 37 contracts were signed last week at $4 million and above.

The No. 1 contract was a townhouse at 14 East 95th Street, asking $13.9 million, reduced from $16.995 million when it went on the market in April 2014. It last sold for $14.25 million in February 2011. This 16-foot wide limestone house is in excellent condition, and has 5,739 square feet including 5 bedrooms, 5.5 bathrooms, a garden, 2 terraces, a landscaped roof, and an elevator.

The No. 2 contract was Unit 24 at 520 West 28th Street, asking $15.5 million. The apartment was sold off of floorplans in a new 39-unit condo being designed by Zaha Hadid, the London-based, Iraqi-born architect who was the first woman to win the Pritzker Prize, in 2004. The unit has 4,216 square feet with 5 bedrooms and 5.5 bathrooms, plus a terrace. Hadid’s 11-story building is a bold, contemporary design incorporating hand-crafted metal, glass curtain walls, and curved balconies--all overlooking the High Line. It is scheduled to be completed by 2017. Amenities include a 75-foot saline pool, a separate cold-plunge pool, spa and fitness facilities, and a garage that uses robotic technology instead of an attendant to park cars. (This feature has been installed in a couple of condos, and sounds cool--but I have yet to see it demonstrated.)

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 2-8, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

5

1

0

1

Avg.Ask:$7,103,571

7

Condos

3

3

3

15

Avg.Ask:$6,759,367
Avg.$/sq.ft.:$2,843/sq.ft.
Avg.Size:2,377sq.ft.

24

Condops *

2

0

0

0

Avg.Ask:$9,600,000
Avg.$/sq.ft.:$4,164/sq.ft.
Avg.Size:2,306 sq.ft.

2

Townhouses

2

0

1

1

Avg.Ask:$8,861,250
Avg.$/sq.ft.:$1,759/sq.ft.
Avg.Size:5,039 sq.ft.

4

Totals

12

4

4

17

37

Total Weekly Asking Price Sales Volume: $266,594,800
Average Asking Price: $7,205,265
Median Asking Price: $5,750,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:183
*Condop is a co-op with condo rules.

TO VIEW 33 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/1601074e76ff1c.htm
http://media.realplusonline.com/webreports/1601074c0963f8.htm

TO VIEW 4 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/160107d6222a6b.htm

Donna Olshan
President
dso@olshan.com

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

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