LUXURY MARKET REPORT 2019


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
March 11-17, 2019

27 Contracts Signed

Twenty-seven contracts were signed last week at $4 million and above, the third time in the last 4 weeks that the total exceeded 20 sales. Condos outsold co-ops, 23-3, and 1 townhouse was in the mix. Half of the apartments were sold by developers.

The No.1 contract was Apartment 2 at 320 West 12th Street, asking $33.5 million, which sold within a month of listing. It is owned by hedge fund billionaire Steven Cohen, who paid $23,419,750 when he bought it as a new condo in June 2013. He then renovated the 9600-square-foot triplex, which features a dramatic double-height entrance gallery, a 34-foot great room, 5 bedrooms, 4.5 bathrooms, a library, formal dining room, a large eat-in kitchen, courtyard, private gym, and laundry room. It is in the Abingdon condo, a boutique building with only 10 units that opened for sale in 2012. Amenities include a doorman, gym, and storage.

The No. 2 contract was PH77B at 30 Park Place, sold by the sponsor with an asking price of $16.45 million, reduced from $18.875 million. It is in the new 82-story Four Season condo that was designed by Robert A.M. Stern, and opened for sales in 2014. The unit has 3,173 square feet with 3 bedrooms, 4.5 bathrooms, and 2 small terraces off the family room and master bedroom suite. Amenities include access to hotel services, 24-hour doorman and bellman, a fitness center, a 75-foot swimming pool, children’s playroom, conservatory with adjacent loggia, a screening room, a private dining room with a catering kitchen.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 0 0 1 Avg.Ask:
$7,665,000
3
Condos 3 5 4 11 Avg.Ask:
$7,555,434

Avg.$/sq.ft.:
$2,744/sq.ft.

Avg.Size:
2,754 sq.ft.
23
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 1 0 Avg.Ask:
$4,999,000

Avg.$/sq.ft.:
$1,157/sq.ft..

Avg.Size:
4,320 sq.ft.
1
TOTALS 5 5 5 12 27
Total Weekly Asking Price Sales Volume: $201,898,989
Average Asking Price: $7,477,740
Median Asking Price: $5,495,000
Average Discount from Original Ask to Last Asking Price: 5%
Average Days on Market: 555
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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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