OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


April 25- May 1, 2011

NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
April 25- May 1, 2011: Total Sales: 16 Contracts Signed

This was another solid week with 16 sales. Almost three times as many condos sold as co-ops. Prices were reduced by a mere 3% on average before going into contract. The week was highlighted by a couple of Wow sales. The first was reported by the Wall Street Journal: a 33' wide townhouse at 16 East 69th Street that sold for more than $47 million without a broker. The house, once owned by one of the Vanderbilts, was purchased in 2000 by Sloan Lindemann and her husband, Roger Barnett, for around $11 million. The owners hired famed designer Peter Marino to decorate the five-story, 12,111 sq.ft. , neo-Georgian house. This sale would represent the highest-priced townhouse in the last 3 years.

The No. 1 listed sale of the week goes to a Downtown Wow apartment: the Penthouse at 122 Greenwich a.k.a 1 Jackson Square that was asking $18,950,000. It had been on the market since June 2008 starting out at $21,750,000. This is a spectacular 5,574 sq.ft., 4 bedroom, 5.5 bath apartment. A private elevator is used to access the unit's 1,690 sq.ft. terrace with swimming pool and outdoor kitchen.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 25- May 1, 2011

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

1

 

 

 

4

Condos

 

2

 

9

Avg. Price: $2,408/sq.ft.
Avg. Size : 3,635 sq.ft

11

Condops *

 

 

 

 

 

0

Townhouses

1

 

 

 

Avg. Price: $3,880/sq.ft. Avg Size: 12,111 sq.ft

1

Totals

4

3

 

9

 

16

Total Weekly Asking Price Sales Volume: $172,085,000
Average Asking Price: $10,755,313
Median Asking Price: $6,775,000
Average Discount from Original Ask to Last Asking Price: 3%
Average Days on Market: 228
*Condop is a co-op with condo rules.

TO VIEW APRIL 25 - MAY 1, 2011: CONTRACTS SIGNED ON APARTMENTS:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/110701a099d637.htm

Report Prepared by:

Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook