OLSHAN LUXURY MARKET REPORT

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March 26- April 1, 2012

Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

13 Contracts Signed

The No. 1 contract was apartment 5BC at 140 Franklin Street. The condo came on the market asking $13,500,000—and according to a reliable source, sold for at least $1 million more in a bidding war! The unit has 6,226 square feet, 5 bedrooms, and 4.5 bathrooms. It is in excellent condition with a huge entertaining space that includes a 49’ living room and a 22-foot center-island kitchen with top of the line appliances. Adjacent to the kitchen is a media room with a wood burning fireplace. The unit went on the market in the first week in March and sold almost immediately.

The No. 1 contract was apartment 5BC at 140 Franklin Street, asking $13,500,000. The condo has 6,226 square feet, 5 bedrooms, and 4.5 bathrooms. It is in excellent condition with a huge entertaining space that includes a 49’ living room and a 22-foot center-island kitchen with top of the line appliances. Adjacent to the kitchen is a media room with a wood burning fireplace. The unit went on the market in the first week in March and sold almost immediately.

The No. 2 contract was a 20-foot wide brownstone at 64 Perry Street, asking $9.65 million. It is being resold after closing for $9,011,000 in November 2011. The 4,104 square foot house has many original details but needs to be renovated.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
March 26- April 1, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

1

0

0


3

Condos

1

0

4

4

$2,061/sq.ft.
Avg.Size:3,403sq.ft.

9

Condops *

0

0

0

0


0

Townhouses

0

0

0

1

$2,351/sq.ft.
Avg.Size:4,104sq.ft.

1

Totals

3

1

4

5

13

Total Weekly Asking Price Sales Volume: $87,234,000
Average Asking Price: $6,710,308
Median Asking Price: $5,850,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:187
*Condop is a co-op with condo rules.

TO VIEW 12 CONTRACTS SIGNED ON APARTMENTS:
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TO VIEW 1 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/1205315162d781.htm

Donna Olshan
President
dso@olshan.com

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

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