LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
December 24-30, 2018

5 Contracts Signed

Five contracts were signed last week at $4 million and above, a typically dreary total for the last week of the year.

Coincidentally, the same condo building scored the No. 1 position to end 2018 as it did in 2017. That would be 432 Park and this time it was 95B, asking $40.75 million. The corner unit has 3,977 square feet including 3 bedrooms, a library, and 3.5 bathrooms. It features a 29’ x 29’ living room with a fireplace, an eat-in kitchen, and a 30-foot master suite. The unit has spectacular south, west, and east views. The building is 96 stories high, a concrete-and-glass edifice designed by Rafael Vinoly that can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

Stat Geek Alert: An apartment in 432 Park captured the No.1 spot 10 times in 2018, a dazzling performance by any measure. Overall, in 2018, 432 Park racked up 17 deals at $4 million and above.

The No. 2 contract was PHF at 443 Greenwich Street, asking $16.25 million, reduced from $17.3 million when it went on the market in August of 2017. The condo has 3,471 square feet including 3 bedrooms and 3.5 bathrooms, plus a 1,080-square-foot terrace with an outdoor kitchen. 443 Greenwich is a former factory that was built in the 1880s, and converted into a 53-unit condo. It retains some of the original details, like large windows and huge shutters, and has attracted celebrity owners including Justin Timberlake and Jessica Biel, Jennifer Lawrence, and Ryan Reynolds and Blake Lively. Amenities include a lap pool, fitness center, garage with valet parking, a landscaped courtyard, and a roof deck.

Happy New Year!!!!



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 0 0 0 1 Avg.Ask:
$4,800,000
1
Condos 0 2 1 1 Avg.Ask:
$17,220,000

Avg.$/sq.ft.:
$5,843/sq.ft.

Avg.Size:
2,947 sq.ft.
4
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 0 2 1 2 5
Total Weekly Asking Price Sales Volume: $73,680,000
Average Asking Price: $14,736,000
Median Asking Price: $6,250,000
Average Discount from Original Ask to Last Asking Price: 2%
Average Days on Market: 549
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 5 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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