LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
October 30-November 5, 2017

28 Contracts Signed

Twenty-eight contracts were signed last week at $4 million and above, the best performance in this category since the third week in June when 29 contracts were signed. Eight properties topped $10 million, and condos outsold co-ops, 17 to 5; there were 6 townhouses in the mix.

The No.1 contract was PH1A at 50 Riverside Boulevard, also known as One Riverside Park, asking $16.5 million, reduced from $19,840,000 when it started on the market in 2014. The condo has 6,168 square feet that includes 6 bedrooms and 8.5 bathrooms. The living room, formal dining room, eat-in kitchen, and master bedroom all face the Hudson River, though the Penthouse does not have a terrace. The building has a robust package of amenities, including the use of next door’s Aldyn condominium’s 40,000-square-foot fitness space that features a large gym, pool, full-sized basketball court, squash court, 2-lane bowling alley, and a rock-climbing wall.

A S’Wonderful week for Michael Feinstein, the Gershwin expert and recording artist whose brownstone at 141-143 East 63rd Street went to contract, asking $15.9 million after being on and off the market since 2013, starting at $17.9 million. The property is 2 combined brownstones, which together measure 25-feet in width; it has 7,950 square feet. In 2004, Feinstein and his spouse, Terrence Flannery, purchased No. 141 for $3,075,000. A year later, they purchased No. 143 for $3,825,000, and then combined the houses. The combined property has 6 bedrooms, 8 bathrooms, and a powder room. It also has a 20’x24’ living room with 12-foot ceilings. There are 6 fireplaces, a landscaped garden, and a terrace on the top floor off of a gym.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 1 1 2 Avg.Ask:
$7,520,000
5
Condos 0 3 4 10 Avg.Ask:
$8,753,823

Avg.$/sq.ft.:
$2,759/sq.ft.

Avg.Size:
3,173 sq.ft.
17
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 2 1 0 3 Avg.Ask:
$11,073,333

Avg.$/sq.ft.:
$1,965/sq.ft..

Avg.Size:
5,637 sq.ft.
6
TOTALS 3 5 5 15 28
Total Weekly Asking Price Sales Volume: $252,899,999
Average Asking Price: $9,032,143
Median Asking Price: $8,575,000
Average Discount from Original Ask to Last Asking Price: 11%
Average Days on Market: 518
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 22 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 6 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
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