LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
March 26-April 1, 2018

26 Contracts Signed

Twenty-six contracts were signed last week at $4 million and above—a robust number, but here’s the really good news: 26 contracts represents a tie (2015) for the largest total during an Easter Week since we started keeping track in 2006. An impressive total when you consider the recent spate of Nor’easters and the stomach-churning volatility of the stock market.

Here’s another interesting stat: Nine co-op contracts were signed last week, the largest total since mid-November.

The No.1 contract was the 14th floor at 1125 Fifth Avenue, asking $20 million. This 11-room co-op has 5 bedrooms and 5 bathrooms, plus a staff room. A living room with a fireplace and a formal dining room span 48 feet overlooking Central Park and the reservoir from huge picture windows. The apartment is right below Bette Midler’s penthouse. Disney chairman Bob Iger just sold a 7th floor unit in the same building in January for $18.75 million.

The No. 2 contract was 20A at 212 Fifth Avenue, asking $18.1 million. This new 4,155-square-foot condo has 4 bedrooms and 4.5 bathrooms, plus a spectacular 57-foot living room and dining room combination that overlooks Fifth Avenue with views of Madison Square Park. This former 24-story office building was transformed into 48 luxury condos. Amenities include a concierge, doorman, fitness center, and children’s playroom.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 4 2 0 3 Avg.Ask:
$6,784,444
9
Condos 1 6 2 8 Avg.Ask:
$7,161,765

Avg.$/sq.ft.:
$2,754/sq.ft.

Avg.Size:
2,601 sq.ft.
17
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 5 8 2 11 26
Total Weekly Asking Price Sales Volume: $182,810,000
Average Asking Price: $7,031,154
Median Asking Price: $5,835,000
Average Discount from Original Ask to Last Asking Price: 3%
Average Days on Market: 383
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 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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