LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
September 3-9, 2018

20 Contracts Signed

Twenty contracts were signed last week at $4 million and above, half of which were condos sold by developers. The Manhattan luxury real estate market had obviously seen better weeks, but here’s a nugget of good news: The total of 20 properties represents the best post-Labor Day week since we started keeping track in 2006.

The No. 1 contract was PHC at 71 Laight Street, asking $15 million, reduced from $20 million when it went on the market in July 2013. This duplex penthouse has 4,986 square feet including 4 bedrooms and 4.5 bathrooms. A 40-foot living room with a fireplace opens onto a 1,065-square-foot terrace. The unit is in the Sterling Mason condo, which has 32 residences, a doorman, a gym, children’s playroom, and a garage.

The No. 2 contract was 7D at 21 Astor Place asking $13.5 million, reduced from $17.25 million when it went on the market in June of 2017. This duplex loft has 4,275 square feet, and was purchased for $6.1 million in May 2008 and gut renovated. It has 4 bedrooms, 4.5 bathrooms, a 35-foot living room, and a 21-foot kitchen. The condo has a doorman and a gym.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 1 0 1 Avg.Ask:
$5,597,000
4
Condos 3 4 2 6 Avg.Ask:
$8,470,000

Avg.$/sq.ft.:
$3,120/sq.ft.

Avg.Size:
2,715 sq.ft.
15
Condops * 0 1 0 0 Avg.Ask:
$5,500,000

Avg.$/sq.ft.:
$1,964/sq.ft.

Avg.Size:
2,800 sq.ft.
1
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 5 6 2 7 20
Total Weekly Asking Price Sales Volume: $152,769,999
Average Asking Price: $7,638,400
Median Asking Price: $6,647,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 472
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 20 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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