LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
December 11-17, 2017

18 Contracts Signed

Eighteen contracts were signed last week at $4 million and above, tying the total during the same period in December 2016. Condos outsold co-ops, 13 to 4, and one townhouse was in the mix.

For the second week in a row, the No.1 contract was a unit at 432 Park Avenue: 65A, asking $29.75 million. The condo has 4,019 square feet including 3 bedrooms, a library, and 4.5 bathrooms. It has 12.5’ ceilings, windows that measure 10’ x 10’ that afford south, east, and north views of Central Park. 432 Park is 96 stories high with 106 units, a concrete-and-glass edifice designed by Rafael Vinoly that is 1,396 feet tall and can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

The No. 2 contract was PH at 101 West 78th Street, asking $23.5 million. This penthouse has 4,742 square feet including 4 bedrooms and 4.5 bathrooms, plus a 3,398-square-foot wraparound terrace and a 2,700-square-foot rooftop terrace outfitted with a kitchen. This 1886 building is being converted from a rental into a condo. Amenities include a doorman, gym, and children’s playroom.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 1 0 0 Avg.Ask:
$6,261,250
4
Condos 4 5 2 2 Avg.Ask:
$10,741,538

Avg.$/sq.ft.:
$3,091/sq.ft.

Avg.Size:
3,475 sq.ft.
13
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$9,850,000

Avg.$/sq.ft.:
$2,826/sq.ft..

Avg.Size:
3,486 sq.ft.
1
TOTALS 7 6 2 3 18
Total Weekly Asking Price Sales Volume: $174,235,000
Average Asking Price: $9,679,722
Median Asking Price: $6,850,000
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 487
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 17 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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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