LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
June 11-17, 2018

24 Contracts Signed

Twenty-four contracts were signed last week at $4 million and above, including 8 properties that sold at asking prices of $10 million or more. Condos outsold co-ops, 14 to 5, and 5 townhouses added to the total. More than half of the deals were Downtown.

The No. 1 contract was PH2003 at 1 Central Park South, asking $33.95 million, reduced by $1 million when it went on the market in September. This Plaza Hotel duplex condo has 3,947 square feet including 3 bedrooms and 3.5 bathrooms with magnificent views of Central Park. Downstairs features a 40-foot living room with a fireplace, and upstairs are bedrooms that open onto a narrow 82-foot terrace. The unit was last purchased in 2008 for $22,947,444.

The No. 2 contract was the 11th floor at 810 Fifth Avenue, asking $22 million, reduced from $24 million when it went on the market in March. This full-floor co-op has been reconfigured from 11 rooms into 8 rooms, and features a spectacular 46-foot living room/dining room with a fireplace facing Central Park. It has a library, master bedroom, study, eat-in kitchen, and a staff room.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 1 0 3 Avg.Ask:
$8,467,000
5
Condos 0 2 3 9 Avg.Ask:
$10,022,857

Avg.$/sq.ft.:
$3,308/sq.ft.

Avg.Size:
3,030 sq.ft.
14
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 3 1 0 1 Avg.Ask:
$7,835,000

Avg.$/sq.ft.:
$1,664/sq.ft..

Avg.Size:
4,710 sq.ft.
5
TOTALS 4 4 3 13 24
Total Weekly Asking Price Sales Volume: $221,830,000
Average Asking Price: $9,242,917
Median Asking Price: $6,115,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 421
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 19 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 5 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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