LUXURY MARKET REPORT 2019


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
March 4-10, 2019

15 Contracts Signed

Fifteen contracts were signed last week at $4 million and above, a slip below the benchmark 20+ totals that were recorded in the previous 3 weeks. Condos outsold co-ops, 10 to 5.

The No.1 contract was 40A at 2 Park Place, asking $21.325 million. This 6,095-square-foot condo includes 4 bedrooms, 2 powder rooms, a 52-foot great room, dining room, and an eat-in kitchen. The ceilings are 14.5-feet high, and the views are in all directions. The condo is in the historic Woolworth Building, which converted the top floors into 33 units. The building was listed in 2014-2015 and then pulled off the market to redesign the interiors. It went back on the market in 2017. Amenities include a concierge, fitness center, pool, wine room, and a garage.

The No. 2 contract was 2E at 960 Park Avenue, asking $14.5 million. The co-op has 12 rooms including 6 bedrooms, a library, 6.5 bathrooms, and 2 working fireplaces. The unit is in excellent condition and wraps the corner of 82nd and Park. It was purchased in 2005 for $10 million. The building has a doorman and gym but only allows 25% mortgage financing.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 1 0 1 Avg.Ask:
$7,488,000
5
Condos 2 1 1 6 Avg.Ask:
$8,082,700

Avg.$/sq.ft.:
$2,496/sq.ft.

Avg.Size:
3,237 sq.ft.
10
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 2 1 7 15
Total Weekly Asking Price Sales Volume: $118,267,000
Average Asking Price: $7,884,467
Median Asking Price: $5,495,000
Average Discount from Original Ask to Last Asking Price: 13%
Average Days on Market: 576
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 15 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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