OLSHAN LUXURY MARKET REPORT

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January 4-10, 2016

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

15 Contracts Signed

Not Again!

The Dow crashes a record first-week-of-the-year 1,079 points but it seems nothing can stop this guy. For the second week in a row, the top spot in the Manhattan luxury real estate market goes to---wait for it—Donald Trump!

Of the 15 contracts signed last week at $4 million and above, the No.1 sale was PH27 at 502 Park Avenue, better known as Trump Park. At $16.8 million, this 4,192 square foot penthouse has 4 bedrooms and 6 baths with the living room, dining room, and library spanning 69 feet across Park Avenue. The unit was last purchased for $7,740,988 in 2010.

The No. 2 contract signed was Unit 5 at 152 Elizabeth Street, asking $15.2 million. This 4,094-square-foot condo has 4 bedrooms and 4.5 bathrooms. It is one of 7 units in a new boutique glass-and-concrete condo that was designed by Pritzker Prize-winning architect Tadao Ando.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 4-10, 2016

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

1

Avg.Ask:$4,747,500

2

Condos

1

0

1

6

Avg.Ask:$8,947,500
Avg.$/sq.ft.:$3,162/sq.ft.
Avg.Size:2,830sq.ft.

8

Condops *

1

0

0

0

Avg.Ask:$4,095,000
Avg.$/sq.ft.:$2,482/sq.ft.
Avg.Size:1,650sq.ft.

1

Townhouses

2

0

0

2

Avg.Ask:$10,112,500
Avg.$/sq.ft.:$1,915/sq.ft.
Avg.Size:5,281sq.ft.

4

Totals

5

0

1

9

15

Total Weekly Asking Price Sales Volume: $125,620,000
Average Asking Price: $8,374,667
Median Asking Price: $5,995,000
Average Discount from Original Ask to Last Asking Price:9%
Average Days on Market:347
*Condop is a co-op with condo rules.

TO VIEW 11 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/160310395c1221.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/1603106ed64065.htm

Donna Olshan
President
dso@olshan.com

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

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