Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

14 Contracts Signed

Recently, I have been warning about a summer slow down. I still think that’s in the cards, but look at the week we just had: 14 contracts signed, including 3 with asking prices above $10 million--a damn good performance for a big holiday like July 4 landing in the middle of the week.

The No. 1 contract was Penthouse 1 at 641 Fifth Avenue, asking $15 million for a 3 bedroom, 3.5 bathroom duplex on the 50th and 51st floor of Olympic Tower Condominium. The building was built by Aristotle Onassis in 1975 with Skidmore, Owens and Merrill as architects. The penthouse has 4,170 square feet, 11’ ceilings, and is in excellent condition. The upper floor is laid out as entertaining space with Central Park views from a large living room, formal dining room, eat-in kitchen, and maid’s quarters. The library on this floor has a working fireplace. Downstairs are 3 bedrooms with Central Park views and 2 baths. The unit has an elevator.

The No. 2 contract was a 26’ wide townhouse at 103 Riverside Drive, asking $12.1 million, reduced from $21.5 million when it started on the market 2 years ago. This is one of a handful of houses on Riverside Drive built by Clarence True, a turn-of-the-century architect known for his Upper West Side townhouses. The house, located between 82nd and 83rd Street, has magnificent Hudson River views from the front rooms and 7,500 square feet with an elevator, 6 bedrooms, a library, finished basement, 6 bathrooms, 2 powder rooms—all in very good condition. There is a small terrace that faces the river but the house has no garden.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
July 2-8, 2012