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March 28-April 3, 2011
NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
March 28-April 3, 2011: Total Sales: 20 Contracts Signed
April is starting out like a bull month with 20 contracts signed. Nine weeks of solid numbers in the luxury end is beginning to look like a sustainable trend. One thing to note: the spread between the original asking price and last asking price is getting tighter--an average of 4 % in the last 6 weeks.
The No. 1 contract of the week: A 25’ wide townhouse at 113 East 90th Street, asking $10,995,000. It is a firehouse converted into a townhouse, which is used as an art gallery and private residence. This year six houses have gone to contract at asking prices above $10 million. Half sold in Greenwich Village and the other half on the Upper East Side. The No. 1 townhouse sale of 2011 closed this week: 117 East 69th Street, which sold for $23 million. The empty Neo-Georgian house is 40’ wide and was owned by Edgar Bronfman Jr., who purchased it in 2008 for $28.5 million from Jim Henson Productions, creator of the Muppets.
NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
March 28-April 3, 2011
| | East | West | Midtown | Downtown | Asking $/sq.ft. | Totals |
Co-ops | 3 | 2 | 1 | | | 6 |
Condos | 1 | 7 | | 3 | Avg. Price: $1,981/sq.ft.
Avg. Size: 2,786 sq.ft.
| 11 |
Condops * | | | | | | 0 |
Townhouses | 3 | | | | Avg. Price: $1,676/sq.ft.
Avg Size: 3,975 sq.ft.
| 3 |
Totals | 7 | 9 | 1 | 3 |
| 20 |
Total Asking Price Sales Volume: $132,584,000
Average Asking Price: $6,629,200
Average Discount from Original Ask to Last Asking Price: 3%
Average Days on Market: 183
*Condop is a co-op with condo rules.
TO VIEW MARCH 28-APRIL 3: 17 CONTRACTS SIGNED ON APARTMENTS:
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TO VIEW MARCH 28-APRIL 3: 3 CONTRACTS SIGNED ON TOWNHOUSES:
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http://media.realplusonline.com/webreports/1106033cc2bdb3.htm
Report Prepared by:
Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com
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