LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
June 25-July 1, 2018

22 Contracts Signed

Twenty-two contracts were signed last week at $4 million and above, continuing a steady trend of 20-plus weeks of sales since the end of January. Condos outsold co-ops, 13 to 4. Four townhouses and 1 condop added to the total. The average days on the market was 390, and almost half of last week’s total was Downtown including the No.1 contract.

That would be the townhouse at 66 Morton Street, asking $16.5 million, reduced from $18.45 million when it went on the market at the end of November. The house is being sold by jeweler David Yurman, who purchased the property for $17 million in February 2015. This 25-foot-wide brick house has 5,834 square feet, and needs to be totally renovated.

The No. 2 contract was 11A at 910 Fifth Avenue, asking $14.9 million, reduced from $17.5 million when it went on the market in the middle of November. This 9-room co-op has a 59-foot expanse overlooking Central Park from the living room, master bedroom, and sitting room. It has 5 bedrooms and 4.5 bathrooms, and has a doorman, gym, and a garage—but does not allow pets, and could use a complete renovation.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 0 0 1 Avg.Ask:
$7,906,250
4
Condos 3 3 0 7 Avg.Ask:
$7,571,923

Avg.$/sq.ft.:
$2,715/sq.ft.

Avg.Size:
2,789 sq.ft.
13
Condops * 0 0 0 1 Avg.Ask:
$4,259,190

Avg.$/sq.ft.:
$2,394/sq.ft.

Avg.Size:
1,779 sq.ft.
1
Townhouses 2 1 0 1 Avg.Ask:
$10,159,500

Avg.$/sq.ft.:
$1,692/sq.ft..

Avg.Size:
6,006 sq.ft.
4
TOTALS 8 4 0 10 22
Total Weekly Asking Price Sales Volume: $174,507,190
Average Asking Price: $7,932,145
Median Asking Price: $6,675,000
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 390
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 18 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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