LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 20-26, 2017

15 Contracts Signed

Fifteen contracts were signed last week at $4 million and above, the total being on a par for a typical Thanksgiving holiday week. The best turkey week in recent memory? That would be in 2014, when 17 contracts were signed.

The No.1 contract was 8B at 15 Central Park West, asking $25 million, reduced from $33 million when it went on the market in June. The unit has 3,478 square feet including 4 bedrooms and 4.5 bathrooms; the living room, dining room, and master span 47 feet overlooking Central Park. It was purchased from the developer, Zeckendorf, for $11,147,305 in 2007. 15 Central Park West is one of the most expensive condos in New York. It is a limestone structure designed by Robert A.M. Stern with a host of amenities including a 14,000-square-foot fitness center that has a 75-foot pool; it also features a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

The No. 2 contract was the Penthouse at 53 Leonard Street, asking $8,999,000, reduced from $18 million when it went on the market in May 2016. This triplex condo has 3,287 square feet including 4 bedrooms and 3.5 bathrooms with landscaped terraces on all three levels that total 3,334 square feet. The outdoor space also includes a Jacuzzi. The penthouse was purchased for $5.8 million in 2010, and was then renovated. This 7-unit, 8-story building has a virtual doorman.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 0 0 0 Avg.Ask:
$4,650,000
1
Condos 2 3 0 9 Avg.Ask:
$7,700,857

Avg.$/sq.ft.:
$2,796/sq.ft.

Avg.Size:
2,755 sq.ft.
14
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 0 9 15
Total Weekly Asking Price Sales Volume: $112,462,000
Average Asking Price: $7,497,467
Median Asking Price: $6,750,000
Average Discount from Original Ask to Last Asking Price: 19%
Average Days on Market: 301
*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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