LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
July 30-August 5, 2018

16 Contracts Signed

Heading into the dog days of August, 16 contracts were signed last week at $4 million and above. Condos outsold co-ops, 12 to 4, and no townhouses were in the mix. The top 2 deals were Downtown condos that have views of the Hudson River.

The No. 1 contract was PHN at 565 Broome Street, asking $40.5 million. This penthouse duplex has 6,655 square feet of interior space and 3,437 square feet of outdoor space. A wow component is a 2,500-square-foot rooftop terrace with a 20-foot heated pool. The unit has 4 bedrooms and 4.5 bathrooms with 16-foot ceilings in a great room that opens onto 3 other terraces. This new building was designed by Pritzker Prize-winning architect Renzo Piano, who also designed the new Whitney Museum. Condo amenities include a concierge, gym, a 55-foot indoor lap pool, a steam room, sauna, spa, and yoga studio. There is also a children’s playroom and parking.

The No. 2 contract was 11A at 150 Charles Street, asking $15.45 million. The condo has 3,008 square feet including 3 bedrooms and 3.5 bathrooms. The corner living room has sweeping views of the Hudson River. The owner purchased the unit off of floorplans in February 2013, when the building was a big hit—it sold most of its 91 units in the first 6 months on the market. The seller closed on the unit for $12,507,490 in March 2016. Amenities include concierge, garage, fitness center, a 75-foot pool, a children’s playroom, and 33,000 square feet of landscaped garden space.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 4 0 0 0 Avg.Ask:
$5,685,000
4
Condos 1 1 3 7 Avg.Ask:
$10,313,750

Avg.$/sq.ft.:
$3,435/sq.ft.

Avg.Size:
3,003 sq.ft.
12
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 1 3 7 16
Total Weekly Asking Price Sales Volume: $146,505,000
Average Asking Price: $9,156,563
Median Asking Price: $5,672,500
Average Discount from Original Ask to Last Asking Price: 3%
Average Days on Market: 275
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 16 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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