LUXURY MARKET REPORT 2018


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

26 Contracts Signed

Twenty-six contracts were signed last week at $4 million and above. Condos outsold co-ops, 18 to 3, with 1 condop and 4 townhouses in the mix. Five of the properties had signed contracts at $10 million and above.

For the third time this year, a townhouse earned the top spot: 46 East 65th Street, asking $14 million, reduced from $22.5 million when it went on the market in February 2016. This 20-foot-wide, 6-story house has 10,253 square feet and an elevator, and has been divided into 5 units. Annual real estate taxes are $140,195.

The No. 2 contract was Apartment 6B at 21 East 61st Street, asking $11.5 million, reduced from $14 million when it went on the market in April of 2013. The unit has 3,751 square feet including 4 bedrooms, 4.5 bathrooms, a family room off the kitchen, and a study off the master suite. The apartment is in the Carlton House, a 16-story building that was built as a hotel in 1950, and was converted into a 69-unit condop by Extell Development. (This condop is a co-op that leases the land and has condo rules.) Amenities include concierge, doorman, a fitness center with a swimming pool, and bike and storage facilities. Many of the units have terraces.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 0 1 0 Avg.Ask:
$7,250,000
3
Condos 2 5 4 7 Avg.Ask:
$6,451,944

Avg.$/sq.ft.:
$2,451/sq.ft.

Avg.Size:
2,632 sq.ft.
18
Condops * 1 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
1
Townhouses 1 2 1 0 Avg.Ask:
$8,723,750

Avg.$/sq.ft.:
$1,157/sq.ft..

Avg.Size:
7,542 sq.ft.
4
TOTALS 6 7 6 7 26
Total Weekly Asking Price Sales Volume: $184,280,000
Average Asking Price: $7,087,692
Median Asking Price: $6,325,000
Average Discount from Original Ask to Last Asking Price: 14%
Average Days on Market: 409
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 22 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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