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

32 Contracts Signed

At first glance, it would seem that not much had changed last week in Manhattan’s luxury real estate market. Once again, condos outsold co-ops, 22-4, at $4 million and above. But dig a little deeper, and there it is: A flurry of signed townhouses contracts, 6 to be precise, the biggest total since the middle of last June, when 7 were sold. Year to date, 48 contracts on townhouses at $4 million and above have been signed, a 33% increase in sales over the same period last year; average asking prices are up 4%. Townhouses still remain a good value compared to condos and co-ops: The average asking price on the 48 townhouses under contract is $1,669/square foot, $983/sq.ft. less than a condo.

The top 2 signed contracts were both mansion houses, and each had at one time served as the Kips Bay Decorator show house. The No.1 contract was 54 East 64th Street, asking $28 million. The 4-story, 25-foot house is commercially-zoned and in mint condition. It has 12,551 square feet and 17 rooms that include 8 bedrooms, 4 bathrooms, and an elevator. The property has traded 4 times since 2004, most recently in December 2011 for $20 million.

The No. 2 contract was a townhouse at 163 East 63rd Street, asking $18 million, reduced from $20 million when it went on the market last May. This 40-foot-wide mansion house was built in 1919 and formerly owned by John Hay “Jock” Whitney. It is in very good condition with 9,120 square feet that includes 16 rooms, 8 bedrooms, 8 bathrooms, 7 fireplaces, an elevator, garden, and 4 terraces.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 22-28, 2013