LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
October 23-29, 2017

23 Contracts Signed

Twenty-three contracts were signed last week at $4 million and above, the 4th straight week of solid sales after a sluggish 3rd quarter in which only 1 week had more than 20 contracts signed.

The No. 1 contract was 17E at 737 Park Avenue, asking $13.590 million. This new condo, sold by the developer Macklowe Properties, has 3,819 square feet including 4 bedrooms and 5 bathrooms. It has a combined living room and dining room that measures 31’ x 25’ and faces south on 71st Street.

The No. 2 contract was 3W at 320 West 12th Street, asking $12 million; it sold within 3 weeks of listing. The condo has 3,537 square feet including 3 bedrooms, 2.5 bathrooms, a 27-foot living room, an 18-foot formal dining room, a media room, and den. The owner paid the developer of this 10-unit condo, known as the Abingdon, $9,164,250 in 2013. Amenities include a doorman and a fitness center.

LATE NIGHT SPECIAL—NBC’s Seth Meyers signed a contract to sell his prewar 2-bedroom condo last week--12G at 302 West 12th Street, asking $4.5 million. He paid $3.525 million for the unit in December 2013. In August 2016, Meyers bought a 10-room duplex co-op at 32 Washington Square West for $7,519,500.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 4 2 0 0 Avg.Ask:
$6,802,500
6
Condos 2 2 2 10 Avg.Ask:
$6,750,313

Avg.$/sq.ft.:
$2,736/sq.ft.

Avg.Size:
2,467 sq.ft.
16
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 1 0 0 Avg.Ask:
$7,995,000

Avg.$/sq.ft.:
$999/sq.ft..

Avg.Size:
8000 sq.ft.
1
TOTALS 6 5 2 10 23
Total Weekly Asking Price Sales Volume: $156,815,000
Average Asking Price: $6,818,043
Median Asking Price: $5,350,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 377
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 22 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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