LUXURY MARKET REPORT 2019


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
December 31, 2018-January 6, 2019

12 Contracts Signed

Twelve contracts were signed last week at $4 million and above, the same total as last year during the same week. Interestingly, the top 2 contracts were signed on properties on the same street.

The No. 1 contract was PH11A at 90 Morton Street, asking $40 million. PH11A is a 5,830-square-foot duplex with 6 bedrooms and 6.5 bathrooms, plus 2 terraces totaling 2,029 square feet. It is in a former printing plant that is being converted into a 12-story, 28-unit condo that started offering apartments off of floorplans in the Fall of 2017. Amenities include a concierge, a covered driveway, a fitness center, a 64-foot pool, residents’ lounge, children’s playroom, and a rooftop terrace with an outdoor kitchen.

The No. 2 contract was a townhouse at 16 Morton Street, asking $15.995 million, reduced from $17.5 million when it went on the market last April. This 3-story, 25-foot-wide house has 6,000 square feet, and is configured as a commercial showroom with 2 floors of office space above it. The house also has a 1-car garage. The seller was fashion designer Cynthia Rowley, who purchased the house for $10,995,000 in May 2014 and then renovated it.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 0 0 0 0 Avg.Ask:
0
Condos 0 3 1 4 Avg.Ask:
$10,230,625

Avg.$/sq.ft.:
$3,585/sq.ft.

Avg.Size:
2,835 sq.ft.
8
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 1 3 Avg.Ask:
$8,210,000

Avg.$/sq.ft.:
$2,050/sq.ft..

Avg.Size:
4,005 sq.ft.
4
TOTALS 0 3 2 7 12
Total Weekly Asking Price Sales Volume: $114,685,000
Average Asking Price: $9,557,083
Median Asking Price: $5,462,500
Average Discount from Original Ask to Last Asking Price: 5%
Average Days on Market: 379
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 8 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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