LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
February 12-18, 2018

37 Contracts Signed

Thirty-seven contracts were signed last week at $4 million and above, the best total in 9 months, going back to the 2nd week in May when the same number of contracts were signed. Condos outsold co-ops, 28 to 5, with 4 townhouses in the mix.

One more fact for you stat geeks: 22 out of the 28 condos were sold by sponsors in new condo developments.

The No.1 contract was the late philanthropist David Rockefeller’s townhouse, sold by his estate. The 40-foot-wide house at 146 East 65th was asking $27 million, reduced from $32.5 million when it went on the market in June. It has 9,777 square feet including 8 bedrooms, 8 full bathrooms, a library, 6 staff rooms, 3 powder rooms, 8 fireplaces, an elevator, and a large garden. The house has beautiful architectural bones, but needs a gut renovation.

The No. 2 contract was PH at 60 East 86th Street, asking $22 million. This new triplex penthouse condo has 4,932 square feet including 4 bedrooms and 4.5 bathrooms, plus a top-floor, 930-square-foot terrace outfitted with a fireplace. The unit has a dramatic 35-foot living room with a fireplace and a 20-foot-tall ceiling. Amenities in this 15-unit building include a doorman, fitness center, children’s playroom, a wine locker room, storage and bicycle rooms. The building also has access from a lower level into a garage on 85th Street.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 1 1 2 Avg.Ask:
$6,553,400
5
Condos 3 6 1 18 Avg.Ask:
$7,318,071

Avg.$/sq.ft.:
$2,578/sq.ft.

Avg.Size:
2,839 sq.ft.
28
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 2 0 0 2 Avg.Ask:
$14,647,500

Avg.$/sq.ft.:
$2,607/sq.ft..

Avg.Size:
5,619 sq.ft.
4
TOTALS 6 7 2 22 37
Total Weekly Asking Price Sales Volume: $296,262,990
Average Asking Price: $8,007,108
Median Asking Price: $6,100,000
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 477
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 33 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 33 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

© 2018
Donna Olshan and Olshan Realty
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