LUXURY MARKET REPORT 2016


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 7-13, 2016

22 Contracts Signed

Twenty-two contracts were signed last week in Manhattan at $4 million above, and one of the top two spots went to a penthouse in a building that bears the name of the new President-elect. Unless you’ve been living under a rock, that would be Trump, as in 220 Riverside Boulevard at Trump Place.

But first, let’s give a shout out to the No. 1 spot: Apartment 1801 at 1 Central Park South, asking $17.9 million, more than a couple million less than the $20.2 million paid in 2008 by fertilizer tycoon Bolat Nazarbayev, brother of Kazakhstan President Nursultan Nazarbayev. This 4,064-square-foot Plaza Hotel condo has a living room and 4 bedrooms that face Central Park. In 2014, the unit was on the market for $30 million while it was entangled in a divorce sale.

The No. 2 was PHA at 220 Riverside Boulevard, asking $12.1 million, reduced from $13.95 million when it went on the market in August of 2015. This 4,000-square-foot condo spans 81 feet across the Hudson River. The unit has 4 bedrooms and 3.5 bathrooms including a 32-foot master suite.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 0 1 0 1 Avg.Ask:
$8,854,995
2
Condos 2 3 4 8 Avg.Ask:
$6,807,529

Avg.$/sq.ft.:
$2,737/sq.ft.

Avg.Size:
2,487 sq.ft.
17
Condops * 1 0 0 0 Avg.Ask:
$4,350,000

Avg.$/sq.ft.:
$3,046/sq.ft.

Avg.Size:
1,428 sq.ft.
1
Townhouses 1 1 0 0 Avg.Ask:
$8,474,500

Avg.$/sq.ft.:
$1,839/sq.ft..

Avg.Size:
4,608 sq.ft.
2
TOTALS 4 5 4 9 22
Total Weekly Asking Price Sales Volume: $154,736,990
Average Asking Price: $7,033,500
Median Asking Price: $5,587,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 348
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 20 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

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Donna Olshan and Olshan Realty
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