OLSHAN LUXURY MARKET REPORT

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



Subscribe | Unsubscribe


June 13-19, 2011

NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
June 13-19, 2011: 22 Contracts Signed

There were 22 contracts signed, one of the top 5 weeks of 2011, and the biggest week since the middle of April. Anytime the market has 20 or more contracts signed, it's a major week. The clear winner was the Laureate Condo, at 2150 Broadway (76th Street), with 4 contracts. This is the most successful new condo building of 2011. It opened at the end of February at prices averaging $2,350/square foot. Within two months, half of its 76 units were under contract.

The No. 1 contract of the week was PH 1B at the Laureate asking $13 million. This is a 20th floor duplex penthouse with 8 rooms, 5 bedrooms, 4.5 baths, and 3,558 interior square feet. Its unique feature is a 1,964 square foot roof terrace with a hot tub. There is also a balcony off the 22-foot master suite.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
June 13-19, 2011

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

3

 

1

 

8

Condos

1

5

1

6

Avg. Price: $2,377/sq.ft.
Avg. Size : 2,866 sq.ft.

13

Condops *

 

 

 

 

 

0

Townhouses

 

 

1

 

Avg. Price: $833/sq.ft.
Avg. Size: 5,940 sq.ft.

1

Totals

5

8

2

7

 

22


*condop is a co-op with condo rules

Total Weekly Asking Price Sales Volume: $ 138,781,643
Average Asking Price: $6,308,257
Median Asking Price: $5,449,322
Average Discount from Original Ask to Last Asking Price: 1%
Average Days on Market: 159

TO VIEW June 13-19, 2011: 21 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/110819b8e97b19.htm

TO VIEW June 13-19, 2011: 1 CONTRACT SIGNED ON A TOWNHOUSE:
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/1108195ed0fcce.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