LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
October 29-November 4, 2018

24 Contracts Signed

Twenty-four contracts were signed last week at $4 million and above, a healthy total in the midst of a much-publicized worrisome housing market. Eleven of the 16 condos were sold by developers, while 5 townhouses and 3 co-ops were in the mix.

The No. 1 contract was 46C at 157 West 57th Street, asking $19.9 million. The 4-bedroom, 4.5-bathroom condo has 3,466 square feet. A corner living room, master suite, and entrance gallery have Central Park views. 157 West 57th Street was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel, which has a separate entrance for its 210 rooms. Amenities include the use of hotel services including a fitness center, pool, private dining, a library lounge, performance space, and a garage.

The No. 2 contract was 6BS at 150 Charles Street, asking $16.995 million. The condo has 3,463 square feet including 3 bedrooms and 3.5 bathrooms. It has 2 terraces off a living room that faces 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 its first 6 months on the market. Three years later, upon completion of the building, the seller closed for $12,258,488. 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 1 0 0 2 Avg.Ask:
$6,480,000
3
Condos 1 1 7 7 Avg.Ask:
$7,196,562

Avg.$/sq.ft.:
$2,894/sq.ft.

Avg.Size:
2,487 sq.ft.
16
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 2 1 2 Avg.Ask:
$8,887,000

Avg.$/sq.ft.:
$1,507/sq.ft..

Avg.Size:
5,897
5
TOTALS 2 3 8 11 24
Total Weekly Asking Price Sales Volume: $179,019,990
Average Asking Price: $7,459,166
Median Asking Price: $5,740,000
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 783
*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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