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

6 Contracts Signed

Once again, the New Year kicked off not with a bang but a whimper. Only 6 contracts were signed last week at $4 million and above. And for the second time since he launched his campaign for the GOP Presidential nomination, Donald Trump can brag that he’s No.1 in the Manhattan luxury real estate market.

The No. 1 contract was apartment 86A in Trump World Plaza at 845 United Nations Plaza. The unit was asking $17.75 million, reduced from $19.5 million when it went on the market in June. This 4-bedroom, 5.5-bathroom condo has 4,700 square feet and 12-foot ceilings with incomparable views of New York’s skyline including both the East River and Hudson. The unit was sold by scientist and philanthropist William Haseltine, known for his groundbreaking work in HIV/Aids and the human genome. He purchased the apartment in 2008 for $9,877,025.

The No. 2 contract was Apartment 10A at 40 Bond Street, asking $14.5 million, reduced from $14.9 million when it went on the market in June. This 4-bedroom, 4.5-bathroom condo has 3,288 square feet, and features a 41-foot living/dining room with a wood-burning fireplace. The unit was purchased when the building opened in 2007 for $10,437,062. 40 Bond, designed by the Pritzker Prize-winning team of Herzog & de Meuron, ended up being the anchor building for the rebirth of the Noho-Bowery area, an often photographed architectural touchstone of cutting-edge design.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
December 28, 2015-January 3, 2016

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	0	0	0	0		0
Condos	0	0	1	4	Avg.Ask:$11,530,000 Avg.$/sq.ft.:$3,350/sq.ft. Avg.Size:3,442 sq.ft.	5
Condops *	0	0	0	0		0
Townhouses	0	1	0	0	Avg.Ask:$12,500,000 Avg.$/sq.ft.:$1,652/sq.ft. Avg.Size:7,567sq.ft.	1
Totals	0	1	1	4		6

Total Weekly Asking Price Sales Volume: $70,450,000
Average Asking Price: $11,741,667
Median Asking Price: $11,225,000
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:254
*Condop is a co-op with condo rules.

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Donna Olshan
President
dso@olshan.com

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

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