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October 7-13, 2013
Report on Contracts Signed
NYC Residential
Properties
$4 Million and Above
14 Contracts Signed
The Federal government is still shut down, and things could look a little brighter in luxury land. Only 14 contracts were signed last week at $4 million and above, but we can take some comfort in the fact that 3 were signed in the $27-$29.5 million range.
The No.1 and No. 2 contracts of the week were at 56 Leonard, PH57 and PH55, asking $29.5 million and $27.5 million, respectively. Both units have 4 bedrooms and 4.5 bathrooms, and were sold off of floorplans. The $2 million difference in price is reflected in the square footage and outdoor space. PH 57 has 5,252 square feet compared to 5,186 square feet in PH55. In PH57, there is a balcony off the master, and 2 terraces including one that spans 52 feet. PH55 also has a balcony off the master but a smaller terrace. 56 Leonard is a 60-story, 145-unit condo that has been one of the biggest hits of the year; it is over 90% sold. The winning formula is a Tribeca location with sweeping views and a fantastic cutting-edge design by the Pritzker Prize-winning team of Herzog & de Meuron. Prices averaged $2,982/sq.ft..
Actually, there was a tie for the No. 2 spot of the week: 14B at 21 East 61st Street, also asking $27.5 million. This 4-bedroom, 5.5-bathroom unit has 4,762 square feet and 3 terraces. It is in the former Carlton House which is being converted from a rental to a condop by Extell Development. A condop is a co-op with condo rules.
NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 7-13, 2013
| |
East |
West |
Midtown |
Downtown |
Asking $/sq.ft. |
Totals |
Co-ops |
1 |
1 |
0 |
0 |
Avg.Asking:$5,225,000
|
2 |
Condos |
1 |
0 |
2 |
7 |
Avg.Asking:$10,829,500
Avg.$/sq.ft.:$3,562/sq.ft.
Avg.Size:3,041sq.ft. |
10 |
Condops * |
1 |
0 |
0 |
0 |
Avg.Asking:$27,500,000
Avg.$/sq.ft.:$5,775/sq.ft.
Avg.Size:4,762sq.ft. |
1 |
Townhouses |
0 |
0 |
0 |
1 |
Avg.Asking:$4,995,000
Avg.$/sq.ft.:$1,411/sq.ft.
Avg.Size:3,540sq.ft. |
1 |
Totals |
3 |
1 |
2 |
8 |
|
14 |
Total Weekly Asking Price Sales Volume: $151,240,000
Average Asking Price: $10,802,857
Median Asking Price: $6,747,500
Average Discount from Original Ask to Last Asking Price:0%
Average Days on Market:134
*Condop is a co-op with condo rules.
TO VIEW 13 CONTRACTS SIGNED ON APARTMENTS:
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TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES:
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Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com
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