LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
April 9-15, 2018

25 Contracts Signed

Spring has sprung, and the Manhattan luxury real estate market is blooming. Twenty-five contracts were signed last week at $4 million and above, another solid total since the last week in March. 104 contracts have been signed in the last 4 weeks with a volume of $849 million, the best Spring start since 2015.

The No.1 contract is the top Downtown sale this year: PHA at 443 Greenwich Street, asking $58 million, raised from $51 million when it started on the market four years ago. This triplex condo has 8,569 square feet and 2 terraces totaling 3,599 square feet. It has 5 bedrooms, 4 bathrooms, 3 powder rooms, and a dramatic 41-foot living room. A top-floor terrace has a pool and an outdoor kitchen. It was sold with 2 garage spots. 443 Greenwich is a former factory, built in the 1880s, that was converted into a 53-unit condo, and retains some of the original details, like large windows and huge shutters. It is also known for celebrity owners including Justin Timberlake and Jessica Biel, who also own a penthouse, Jennifer Lawrence and Ryan Reynolds and his wife Blake Lively. Amenities include a lap pool, fitness center, garage with valet parking, a landscaped courtyard, and a roof deck.

The No. 2 and No. 3 contracts were at 150 Wooster Street, the remaining units in this new 6-Unit condo, which is comprised of full-floor apartments. Loft 2 was asking $14.75 million for 4,389 square feet including 4 bedrooms and 4 bathrooms. An eat-in kitchen, family room, master bedroom, and study open onto a 1,907 landscaped terrace in the back of the apartment. Loft 3, asking $12.95 million, has 4,389 square feet but has no terrace.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 4 2 0 3 Avg.Ask:
$7,252,778
9
Condos 2 3 1 8 Avg.Ask:
$11,053,214

Avg.$/sq.ft.:
$3,509/sq.ft.

Avg.Size:
3,150 sq.ft.
14
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 1 1 Avg.Ask:
$5,100,000

Avg.$/sq.ft.:
$1,960/sq.ft..

Avg.Size:
2,602 sq.ft.
2
TOTALS 6 5 2 12 25
Total Weekly Asking Price Sales Volume: $230,220,000
Average Asking Price: $9,208,800
Median Asking Price: $5,980,000
Average Discount from Original Ask to Last Asking Price: 5%
Average Days on Market: 380
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 23 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

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Donna Olshan and Olshan Realty
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