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

42 Contracts Signed

As T.S Elliot famously wrote: “April is the cruelest month.” Not this year. The first week of April registered 38 contracts signed at $4 million and above, and last week’s total of 42 sales was even more impressive. Drilling down into the numbers, the story hasn’t changed much: Condos out paced co-ops 31-7, and there were 4 townhouse sales. Year-to-date contracts in the luxury market look like this: 311 condos, 90 co-ops, 4 condops, and 41 townhouses, bringing the volume to $3.35 billion. Of the 311 condos sold, 161 were sold off of floorplans in just 2 buildings, 56 Leonard and 150 Charles, where construction will not be completed for 2 to 3 years.

The No.1 contract, however, wasn’t new construction. It was Apartment 10C at 737 Park Avenue, asking $17.5 million, in a building being transformed from a rental to a condo by Macklowe Properties. This 5-bedroom, 6.5-bath corner unit has 4,657 square feet, and wraps around the corner of Park and 71st Street with a 41-foot living room and library.

The No. 2 contract was Apartment 11B at 150 Charles Street, asking $15 million for 4 bedrooms, 4.5 bathrooms, and 3,396 square feet. The foyer, living room, master bedroom, and library offer views of the Hudson River. This 91-unit, 16-story condo will be a glass-and-red-brick construction with 33,000 square feet of lush landscaped gardens. Amenities include a full staff, fitness center, pool, and garage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 8-14, 2013