OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


November 9-15, 2015

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

33 Contracts Signed

Funny how markets behave. The stock market roared in October, while the Manhattan luxury real estate market took a breather. But, hey, look at us now: As the stock market was tanking last week, a robust 33 contracts were signed at $4 million and above. And get this: The first two weeks of November have clocked in a total of 70 contracts signed representing $564,509,800 in sales—the strongest November start we have seen since we started keeping track in 2006.

The No. 1 contract was 9BC at 101 Central Park West, asking $38 million, reduced from $42 million when it went on the market in February. This 14-room co-op was purchased for $12,219,050 in 2003 and then gut renovated. The unit has big picture windows with direct views of Central Park spanning 100 feet--from the living room, formal dining room, and library. There are 5 bedrooms including a master suite with a terrace, 2 fireplaces, 5 bathrooms, and 2 powder rooms.

The No. 2 contract was PH8 at 140 West 12th Street, asking $26.5 million. This duplex condo has 4,027 square feet including 3 bedrooms and 3.5 bathrooms, plus 2 terraces that total 3,148 square feet. The Penthouse is in the Greenwich Lane, a complex of 5 buildings and 5 townhouses that is being built on the former St. Vincent’s Hospital site. The developers, Rudin and Global Holdings, have reported sales of 183 out of 200 units. The prices on the remaining units average over $3,500/sq.ft. Amenities include concierge, doorman, fitness center, pool, children’s room, and a garage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 9-15, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

4

2

0

Avg.Ask:$10,609,000

10

Condos

1

1

2

17

Avg.Ask: $7,610,714
Avg.$/sq.ft.:$2,876sq.ft.
Avg.Size:2,646 sq.ft.

21

Condops *

0

0

0

0



0

Townhouses

1

0

0

1

Avg.Ask:$16,000,000
Avg.$/sq.ft.:$2,759/sq.ft.
Avg.Size:5,800 sq.ft.

2

Totals

6

5

4

18

33

Total Weekly Asking Price Sales Volume: $297,915,000
Average Asking Price: $9,027,727
Median Asking Price: $6,930,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:208
*Condop is a co-op with condo rules.

TO VIEW 31 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/1601143c1840f6.htm
http://media.realplusonline.com/webreports/1601144c5b89d9.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/160113b97b2e9c.htm

Donna Olshan
President
dso@olshan.com

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

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook