LUXURY MARKET REPORT 2016


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
October 10-16, 2016

22 Contracts Signed

Twenty-two contracts were signed last week at $4 million and above. A good number—but even better than you’d think. For one thing, two business days were essentially wiped out by Columbus Day and Yom Kippur; for another, the stock market has lately posted a lackluster performance. There you have it: a week that was surprisingly strong.

The No. 1 contract was PH at 1 Great Jones Alley, asking $23.75 million. This 5,596-square-foot penthouse duplex has 4 bedrooms, a study, 5.5 bathrooms, and 1009 square feet of outdoor space over 2 terraces and a balcony. The buyer also purchased the floor beneath—the 10th floor–asking $9,925,000 to keep as a separate apartment. That unit has 3,303 square feet with 4 bedrooms, 4.5 bathrooms, and a 215-square foot balcony. 1 Great Jones Alley is a new 16-unit condo designed by BKSK architects. Amenities include a doorman, a fitness center with a plunge pool, and a landscaped terrace for residents.

The No. 2 contract was 37C at 15 Central Park West, asking $23.5 million, reduced from $26.5 million when it went on the market in January. The condo last sold for $23.350 million in May 2012. It has 2,761 square feet with 3 bedrooms and 3.5 bathrooms. The living room, formal dining room, and one bedroom face Central Park. 15 Central Park West is one of the most expensive condos in New York. It is a limestone structure designed by Robert A.M. Stern with a host of amenities including a 14,000-square-foot fitness center that has a 75-foot pool; it also features a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 1 0 1 Avg.Ask:
$5,861,667
3
Condos 5 3 1 10 Avg.Ask:
$8,782,263

Avg.$/sq.ft.:
$3,183/sq.ft.

Avg.Size:
2,759 sq.ft.
19
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 6 4 1 11 22
Total Weekly Asking Price Sales Volume: $184,448,000
Average Asking Price: $8,384,000
Median Asking Price: $6,575,000
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 324
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 22 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

© 2017
Donna Olshan and Olshan Realty
All Rights Reserved











Email Olshan Olshan on Twitter Olshan on Facebook