LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
May 29-June 4, 2017

31 Contracts Signed

And the beat goes on!

Thirty-one contracts were signed last week at $4 million and above, cracking the 30 benchmark for the fourth week in a row. Condos outsold co-ops 21 to 7, and there were 3 townhouses in the mix.

The No. 1 contract was 21A and 21B at 21 East 12th Street, asking $17.55 million, sold as a combination by the developer to one buyer. It is the floor below the penthouse and the two units have a combined 5,175 square feet. Unit 21A, asking $9.1 million, has 4 bedrooms and 4.5 bathrooms, and 21B, asking $8.45 million, has 3 bedrooms and 3.5 bathrooms. The building was designed by architect Annabelle Selldorf on the site of the former Bowlmor Lanes. Amenities include a doorman, fitness room, residents’ lounge, and onsite parking.

The No. 2 contract was 15B/C at 825 Fifth Avenue, asking $12.5 million. This 5-room prewar co-op has a 40-foot terrace with the living room, library, and 2nd bedroom facing Central Park.

DONE DEAL Justin Timberlake and wife Jessica Biel just closed on PHG at 443 Greenwich Street for $20,185,527, a significant discount from the original $27.5 million asking price. The duplex condo has 5,375 square feet with 4 bedrooms, 4 bathrooms, 3 powder rooms, and an over 2,600-square-foot rooftop terrace. The building has attracted other celebrity owners including Jennifer Lawrence and Ryan Reynolds and his wife Blake Lively. Built in the 1880s, it is a former factory that was converted into a 53-unit condo, and retains some of the original details, like large windows and huge shutters. Amenities include a lap pool, fitness center, garage with valet parking, a landscaped courtyard, and a roof deck.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 4 1 0 2 Avg.Ask:
$7,032,571
7
Condos 4 6 1 10 Avg.Ask:
$6,775,500

Avg.$/sq.ft.:
$2,676/sq.ft.

Avg.Size:
2,532 sq.ft.
21
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 2 0 1 Avg.Ask:
$5,931,667

Avg.$/sq.ft.:
$1,304/sq.ft..

Avg.Size:
4,548 sq.ft.
3
TOTALS 8 9 1 13 31
Total Weekly Asking Price Sales Volume: $202,533,000
Average Asking Price: $6,751,100
Median Asking Price: $5,650,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 417
*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 3 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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