LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
February 19-25, 2018

29 Contracts Signed

Twenty-nine contracts were signed last week at $4 million and above, marking the fourth week in a row of total contracts signed in excess of 20.

A couple more data points for you stats geeks: 18 of the 22 condos were sold by developers. Five Upper East Side coops and 2 townhouses also were in the mix.

The No. 1 contract was the 7th floor at 993 Fifth Avenue, asking $17 million, reduced from $24.9 million when it was first listed in May 2017. This 12-room co-op has 6 bedrooms and 5.5 bathrooms, while the living room, library, and master suite face the Metropolitan Museum. It also has an oval-shaped formal dining room, a large eat-in kitchen, and 2 fireplaces. The building is a 17-story co-op built in 1930 and designed by the legendary architect Emery Roth.

The No. 2 contract was PHA at 250 West 81st Street, asking $16 million. This triplex penthouse has 4,278 square feet including 4 bedrooms, 4 bathrooms, and 2 powder rooms. Three terraces total 1,197 square feet and are off the living room, master bedroom, and rooftop. The apartment was sold off of floorplans in a new Robert A.M. Stern-designed, 18-story condo that has 31 units. The building has been quietly selling since the Fall, and last week, the sponsor finally decided to report some of its sales. Amenities include a doorman, fitness center, children’s playroom, and music recording studio, plus a rooftop terrace.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 5 0 0 0 Avg.Ask:
$8,799,000
5
Condos 2 7 2 11 Avg.Ask:
$6,200,409

Avg.$/sq.ft.:
$2,631/sq.ft.

Avg.Size:
2,356 sq.ft.
22
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 1 0 0 Avg.Ask:
$12,195,000

Avg.$/sq.ft.:
$1,531/sq.ft..

Avg.Size:
$7,968 sq.ft.
2
TOTALS 8 8 2 11 29
Total Weekly Asking Price Sales Volume: $204,794,000
Average Asking Price: $7,061,862
Median Asking Price: $5,250,000
Average Discount from Original Ask to Last Asking Price: 10%
Average Days on Market: 377
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 27 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 27 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

© 2018
Donna Olshan and Olshan Realty
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