LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 27-December 3, 2017

29 Contracts Signed

Twenty-nine contracts were signed last week at $4 million and above, a nice bounce back from the Thanksgiving week when 15 were signed. Eleven contracts were on properties with asking prices north of $10 million.

The No.1 contract was 28 West 76th Street, asking $15.95 million, reduced from $17.95 million when it went on the market in February. This 5-story, 20-foot-wide brownstone has 7,750 square feet including a ground-floor unit with 2 bedrooms, 2 bathrooms and a landscaped garden with a fire pit and basketball hoop. Upstairs has 5 bedrooms, 4 bathrooms, and 3 terraces including one on the rooftop. The owners paid $4.6 million for the house in 2006 and then gut-renovated it, but did not install an elevator.

The No. 2 slot is a tie between a co-op, 16/17C at 784 Park Avenue, and a townhouse at 20 Sullivan Street—both asking $14.995 million. The duplex co-op sold within 6 weeks of listing. It has baronial size rooms including 5 bedrooms, 5.5 bathrooms, 2 terraces, a fireplace, a loggia, a conservatory, and north and west city views with peeks of Central Park.

The townhouse at 20 Sullivan Street, also asking $14.995 million, was reduced from $20.795 million when it entered the market in February 2015 as part of the adjoining 10 Sullivan Street, a new condo development with amenities that include a doorman, gym, and garage. The new 5-story house is 25-feet-wide with 6,353 square feet including 5 bedrooms, 4.5 bathrooms, and an elevator. It has a garden, a terrace off the master suite, and a rooftop outfitted with an outdoor kitchen and fireplace.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 2 1 1 Avg.Ask:
$6,820,000
7
Condos 1 2 4 10 Avg.Ask:
$9,030,000

Avg.$/sq.ft.:
$3,060/sq.ft.

Avg.Size:
2,951 sq.ft.
17
Condops * 1 0 0 0 Avg.Ask:
$4,295,000

Avg.$/sq.ft.:
$2,603/sq.ft.

Avg.Size:
1,650 sq.ft.
1
Townhouses 1 1 1 1 Avg.Ask:
$10,255,000

Avg.$/sq.ft.:
$1,781/sq.ft..

Avg.Size:
5,760 sq.ft.
4
TOTALS 6 5 6 12 29
Total Weekly Asking Price Sales Volume: $246,565,000
Average Asking Price: $8,502,241
Median Asking Price: $8,150,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 581
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 25 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 25 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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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