LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
April 16-22, 2018

37 Contracts Signed

Thirty-seven contracts were signed last week at $4 million and above, tied for the largest total of the year (February 12-18) and tied for the largest total since May 2017. Condos outsold co-ops, 27 to 8, and 19 of those condos were sold by developers. There were 2 townhouses in the mix.

The No.1 contract was PHE at 155 West 11th Street, asking $17.75 million. It is the last sponsor apartment to be sold in the Greenwich Lane, a 5-building complex comprised of 193 condos and 5 townhouses (3 houses are still unsold), all developed by the Rudin Organization. Sales opened in December 2013. PHE is a duplex penthouse with 3,486 square feet including 3 bedrooms and 3.5 bathrooms; the top-floor master suite opens onto a 355-square-foot terrace. Amenities include a concierge, doorman, parking, fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge, and children’s playroom.

The No. 2 contract was PH10A at 90 Morton Street, a new condo that quietly started sales in the Fall--and last week reported a cumulative total of 8 contracts signed at $4 million and above. PH10A has 3,678 square feet including 3 bedrooms and 3.5 bathrooms, plus a 610-square-foot terrace. A former printing plant converted into 12-story, 28-unit condo, it offers a concierge, a covered driveway for drop off and pickup, a fitness center, a 64-foot pool, residents’ lounge, and children’s playroom. There is a rooftop terrace with an outdoor kitchen.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 1 2 2 Avg.Ask:
$5,993,625
8
Condos 3 4 1 19 Avg.Ask:
$9,254,444

Avg.$/sq.ft.:
$2,890/sq.ft.

Avg.Size:
3,202 sq.ft.
27
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 1 0 1 Avg.Ask:
$13,472,500

Avg.$/sq.ft.:
$1,384/sq.ft..

Avg.Size:
9,732 sq.ft.
2
TOTALS 6 6 3 22 37
Total Weekly Asking Price Sales Volume: $324,764,990
Average Asking Price: $8,777,430
Median Asking Price: $6,950,000
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 440
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 35 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 35 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

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Donna Olshan and Olshan Realty
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