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

19 Contracts Signed

The week before Thanksgiving tends to turn in a strong performance for contracts signed at $4 million and above. In 2009 and 2010, for example, this week was the strongest week of the year. And here we are again with solid returns: 19 contracts were signed last week including 2 above $10 million.

The No. 1 sale was Apartment 5C at 730 Park Avenue, asking $13.5 million, reduced from $15 million when it went on the market in April. This is a tastefully renovated 4 bedroom, 5.5 bath co-op with its own private elevator landing. The living room and library, both with wood burning fireplaces, face north over 71st Street as does the dining room. The rest of the apartment is in the rear of the building.

The No.2 contract was a townhouse at 23 East 39th Street that is in foreclosure and asking $11,250,000. This 5-story, 25-foot-wide townhouse with an elevator was purchased in October 2007 for $10,400,000. The house has 8,755 square feet with 7 residential units and 2 commercial units. The zoning will allow expansion above the 5th floor, or the building can be demolished and replaced by a structure of no more than 37,000 square feet.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 12-18, 2012