LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
February 27-March 5, 2017

28 Contracts Signed

We just concluded a stellar February, and as we approach Spring, hope springs eternal, as 28 contracts were signed last week at $4 million and above. Scoring 28 might auger well for a muscular March.

A bonus for stat geeks: The top two contracts last week were co-ops, something that hasn’t happened in exactly a year.

The No.1 contract was 8/9 at 24 Gramercy Park North, asking $16 million; it was listed in January. This prewar duplex co-op has 4 bedrooms, 3 bathrooms, 2 powder rooms, and 6 working fireplaces. Downstairs is a living room and library lined by 3 Juliet balconies and spanning 48-feet overlooking Gramercy Park. The bottom floor also includes a formal dining room, media room, guest bedroom, an eat-in kitchen, and office. Upstairs is a bedroom, sitting room, and a master suite that faces Gramercy Park.

The No. 2 contract was 10E at 262 Central Park West, asking $12.5 million, and it sold in only 2 weeks on the market. This corner, 9-room unit has 75 feet of frontage on Central Park including a side-by-side living room and dining room, master bedroom, and library. The renovated co-op has 3 bedrooms, 4 bathrooms, and an eat-in kitchen.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 2 0 1 Avg.Ask:
$8,369,167
6
Condos 6 2 3 10 Avg.Ask:
$6,002,143

Avg.$/sq.ft.:
$2,519/sq.ft.

Avg.Size:
2,382
21
Condops * 1 0 0 0 Avg.Ask:
$4,695,000

Avg.$/sq.ft.:
$1,792/sq.ft.

Avg.Size:
2,620
1
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 10 4 3 11 28
Total Weekly Asking Price Sales Volume: $180,955,000
Average Asking Price: $6,462,679
Median Asking Price: $5,670,000
Average Discount from Original Ask to Last Asking Price: 4%
Average Days on Market: 354
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 28 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 28 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











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