OLSHAN LUXURY MARKET REPORT

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January 18-24, 2016

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

15 Contracts Signed

Only 15 contracts were signed last week at $4 million and above. Not a great number, but here’s the spin: The week was sandwiched between Monday’s Martin Luther King holiday and a weekend that was wiped out by one of the biggest snow storms on record.

The No.1 contract was 42A at 20 West 53rd Street, asking $19.75 million. The condo is in the Baccarat Hotel & Residences, where sales started in December 2013. The unit has 4 bedrooms, 4.5 bathrooms, and 4,545 square feet. The Baccarat is a 50-story building with 61 condos and 114 hotel rooms designed by Skidmore Owens and Merrill with interiors by Tony Ingrao. It was built by Starwood Capital Group and Tribeca Associates on the former site of the Donnell Library.

The No. 2 contract was Apartment 2 at 17 East 73rd Street, asking $8.5 million, reduced from $9.5 million when it went on the market in July. This 4-bedroom, 3.5-bathroom duplex co-op is in a 22-foot-wide limestone townhouse with an elevator.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 18-24, 2016

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

0

0

0

Avg.Ask:$6,533,333

3

Condos

2

1

3

5

Avg.Ask:$6,750,000
Avg.$/sq.ft.:$2,927/sq.ft.
Avg.Size:2,306 sq.ft.

11

Condops *

0

0

0

0



0

Townhouses

0

0

0

1

Avg.Ask:$8,450,000
Avg.$/sq.ft.:$1,242/sq.ft.
Avg.size: 6,804sq.ft.

1

Totals

5

1

3

6

15

Total Weekly Asking Price Sales Volume: $102,300,000
Average Asking Price: $6,820,000
Median Asking Price: $5,500,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:284
*Condop is a co-op with condo rules.

TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS:
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TO VIEW 1 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/160323976d9e37.htm

Donna Olshan
President
dso@olshan.com

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

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