LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
April 24-30, 2017

27 Contracts Signed

Twenty-seven contracts were signed last week at $4 million and above, only 2 of which were asking north of $10 million. If you are looking for the real strength in the luxury market, it is in the $4 to $6 million range.

The No.1 contract was 3C at 15 Central Park West, asking $14.8 million, reduced from $19 million when the unit went on the market in August 2015. This 2-bedroom, 2.5-bathroom condo has 2,532 square feet with a 29-foot living room and 20-foot dining room facing Central Park. In 2008, the apartment sold for $6,017,857. 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.

The No. 2 contract was 5B at 101 West 78th Street, asking $10.795 million. It is a duplex with 4,477 square feet including 5 bedrooms and 4.5 bathrooms in a 1886 building that is being converted into a condo. Amenities include a doorman, gym, and children’s playroom.

STAR SALE: The No. 13 spot went to Greta Garbo’s former apartment on the 5th floor at 450 East 52nd Street, asking $5.95 million. The legendary screen actress lived in the co-op for almost 40 years until her death in 1990 at the age of 84 . An heir sold the unit within a month of listing. It has 3 bedrooms, 3 bathrooms, and fabulous East River views.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 1 1 2 Avg.Ask:
$5,785,000
7
Condos 2 5 4 8 Avg.Ask:
$6,794,211

Avg.$/sq.ft.:
$2,537/sq.ft.

Avg.Size:
2,678 sq.ft.
19
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 0 Avg.Ask:
$7,500,000

Avg.$/sq.ft.:
$2,193.

Avg.Size:
3,420
1
TOTALS 6 6 5 10 27
Total Weekly Asking Price Sales Volume: $177,085,000
Average Asking Price: $6,558,704
Median Asking Price: $5,950,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 323
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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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