LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
August 21-27, 2017

15 Contracts Signed

17.18.18.16.17.14.17.14. If you are a regular reader of this report, you will instantly recognize that those numbers represent the weekly totals of contracts signed this summer at $4 million and above. Well, guess what? The new number to add to that streak is 15. That’s right, 15 contracts were signed last week at $4 million and above, extending the sub-20 streak to 9 weeks in a row. The total dollar volume was $100,065,000. Condos outsold co-ops 12 to 3.

The No. 1 contract was South 12A at 160 Leroy Street, asking $16.25 million, raised from $16 million when the condo went on the market in January 2016 and sold off of floorplans. This corner unit has 3,808 square feet including 4 bedrooms and 4.5 bathrooms, plus a dramatic 36.5-foot great room with a fireplace overlooking the Hudson River. The building is designed like an undulating glass structure by the Pritzker Prize-winning architects Herzog & de Meuron. It is expected to start closings within the next 6 months. Amenities in this 57-unit building include a doorman, concierge, a landscaped motor court, parking, fitness center, pool, and children’s playroom.

The No. 2 contract was 16D at 212 West 18th Street asking $11.150 million. This Walker Tower condo has 2,168 square feet including 2 bedrooms, 2.5 bathrooms, and a great room that measures 18.5’ x 26’. It sold within 35 days of listing, and last traded for $5,905,850 in 2013 when it was purchased from the developer. Building amenities include doormen, concierge, a library lounge, children’s playroom, and bike storage, plus a fitness center with a yoga room and sauna. An extra plus: a landscaped common roof deck with a dining area, sun lawn, observation area, and a covered cabana.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 0 0 1 Avg.Ask:
$5,931,667
3
Condos 1 3 1 7 Avg.Ask:
$6,843,333

Avg.$/sq.ft.:
$2,986/sq.ft.

Avg.Size:
2,292 sq.ft.
12
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 3 3 1 8 15
Total Weekly Asking Price Sales Volume: $100,065,000
Average Asking Price: $6,671,000
Median Asking Price: $5,500,000
Average Discount from Original Ask to Last Asking Price: 4%
Average Days on Market: 402
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 15 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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