OLSHAN LUXURY MARKET REPORT

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



Subscribe | Unsubscribe


December 12-18, 2011

NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
December 12-18, 2011: 13 Contracts Signed

There were 13 contracts signed last week, split almost evenly among condos, co-ops, and townhouses and among different locations around Manhattan.

The No. 1 contract was a 19-foot wide townhouse at 59 East 77th Street, asking $14.9 million that was reduced from $18.75 million when it started on the market in May. The house is 6 stories high, with 6 bedrooms, 5 bathrooms, 2 powder rooms, 4 terraces, an elevator, landscaped garden, and a pool in the basement. The owners paid $6.8 million in 2004 and renovated.

The No.2 sale was a condo at 923 Fifth Avenue, apartment 17CD, asking $13.75 million, reduced from $14.9 million when it started on the market in July. The 3,370 square foot unit has 5 bedrooms and 5 bathrooms, with the living room and dining room facing Central Park. One interesting thing to note: condos with Fifth Avenue addresses are rare, as there only 8 such buildings from 50th Street to 96th Street.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
December 12-18, 2011

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

2

1

 

 

4

Condos

1

1

 

3

Avg. Price: $2,670 sq.ft.
Avg. Size : 2,949 sq.ft.

5

Condops *

 

 

1

 

Avg. Price: $2,758/sq.ft.
Avg. Size: 1,849 sq.ft.

1

Townhouses

1

1

 

1

Avg. Price:.$1,719sq.ft.
Avg. Size: 4,750 sq.ft

3

Totals

3

4

2

4

 

13


*condop is a co-op with condo rules

Total Weekly Asking Price Sales Volume: $92,050,000
Average Asking Price: $7,080,769
Median Asking Price: $6,250,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 224

TO VIEW December 12-18, 2011: 10 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/12021798cb088a.htm

TO VIEW December 12-18, 2011: 3 CONTRACTS SIGNED ON TOWNHOUSES:
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/1202175d4d3582.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