OLSHAN LUXURY MARKET REPORT

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



Subscribe | Unsubscribe


January 16-22, 2012

NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
January 16-22, 2012: 6 Contracts Signed

Another slow week—only 6 contracts were signed, bringing the total for the first three weeks of the year to a paltry 18 sales. But don’t fret just yet. January is typically slow, so be patient.

This time around, the No. 2 sale is a lot more interesting than the week’s top spot. That’s because Yankee superstar Alex Rodriguez, a.k.a. A-Rod, sold his 5 bedroom apartment at 80 Riverside Boulevard for which he was asking $8 million. He purchased 35CD less than a year ago for $5,500,000. The apartment has 3,585 square feet with stunning views of the Hudson River. It’s anybody’s guess where the Yankee third baseman will settle next. (Previously, before buying at 80 Riverside Boulevard, he was renting at 15 Central Park West.)

The No. 1 sale of the week was at 875 Fifth Avenue, apartment 19A, asking $9.8 million which sold in less than 1 month. The co-op has a 44-foot terrace facing Central Park as well as 2 bedrooms, library, formal dining room, and a kitchen that has a greenhouse dining area off it.



NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 16-22, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

 

1

 

 

3

Condos

 

2

 

 

Avg. Price: $1,811/sqft.
Avg. Size : 3,383 sq.ft.

2

Condops *

 

 

 

 

 

0

Townhouses

1

 

 

 

Avg. Price: $1,309/.ft.
Avg. Size: 3,744 sq.ft.

1

Totals

3

2

1

 

 

6


*condop is a co-op with condo rules

Total Weekly Asking Price Sales Volume: $37,100,000
Average Asking Price: $6,183,333
Median Asking Price: $5,600,000
Average Discount from Original Ask to Last Asking Price: 4%
Average Days on Market: 164

TO VIEW January 16-22, 2012, 2011: 5 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/1203227e3b7846.htm

TO VIEW January 16-22, 2012: 1 CONTRACTS 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/12032263a5b7a5.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