LUXURY MARKET REPORT 2016


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 14-20, 2016

20 Contracts Signed

Twenty contracts were signed last week at $4 million and above, and for the second time this year---the first going back to February---townhouses beat out condos and co-ops for the top two spots.

The No.1 contract goes to a property at 137 West 11th Street, asking $25.25 million. This townhouse is one of 5 houses in the Greenwich Lane condo complex, which has 194 units in 5 buildings. This 22.8-foot-wide townhouse has 7,051 square feet including 5 bedrooms, 5 bathrooms, 3 powder rooms, and an elevator; it also includes a garden and 2 terraces that total 1,187 square feet. The townhouse has use of the condo’s amenities including concierge, doorman, fitness center, pool, children’s room, and garage.

The No. 2 contract was 225 West 13th Street, asking $16 million. This 25-foot-wide house has 3 stories and 6,925 square feet. It features a 3-car garage, a recording studio (used by DFA Records) in the basement, a large elevator, and a live/work space on the 2nd and 3rd floors.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 2 0 1 Avg.Ask:
$5,838,000
5
Condos 1 2 3 6 Avg.Ask:
$8,407,083

Avg.$/sq.ft.:
$2,139/sq.ft.

Avg.Size:
3,626 sq.ft.
12
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 2 Avg.Ask:
$16,415,000

Avg.$/sq.ft.:
$3,523/sq.ft..

Avg.Size:
4,660 sq.ft.
3
TOTALS 4 4 3 9 20
Total Weekly Asking Price Sales Volume: $179,320,000
Average Asking Price: $8,966,000
Median Asking Price: $7,972,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 419
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 17 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 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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