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October 14-20, 2013
Report on Contracts Signed
NYC Residential
Properties
$4 Million and Above
31 Contracts Signed
The government shutdown ended last week and so did the dip in Manhattan’s luxury real estate market. Thirty-one contracts were signed at $4 million and above, more than double the previous week’s total of 14.
The No.1 contract was 10E at 11 East 68th Street, asking $22 million. This 5-bedroom, 4.5-bathroom, 4,596-square-foot apartment was sold off of floorplans in the Marquand, a 1913 building that is being transformed from a rental into a 25- to 30-unit condo. The apartment features a 27-foot entrance gallery, 10-foot ceilings, and a living room and formal dining room with big bay windows and wood-burning fireplaces. A large kitchen opens to a family room. The condo’s design team is Shelton, Mindel & Associates, which promises very high quality construction. Amenities include a concierge, fitness center, and children’s room.
Three apartments asking $13.5 million each tied for the No. 2 contract of the week: 8/9A at 941 Park and PHN and PHS at 11 North Moore. 941 Park is a 14-room co-op with 5 bedrooms, 4 bathrooms, and a fireplace. 11 North Moore is a new 16–unit condo building that opened last week, and each penthouse has over 3,400 square feet, including 7 bedrooms, 8 bathrooms, and 11-foot ceilings.
NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 14-20, 2013
| |
East |
West |
Midtown |
Downtown |
Asking $/sq.ft. |
Totals |
Co-ops |
5 |
4 |
2 |
0 |
Avg.jAsking:$6,703,864
|
11 |
Condos |
3 |
3 |
2 |
11 |
Avg.Asking:$7,668,158
Avg.$/sq.ft.:$2,747/sq.ft.
Avg.Size:2,791sq.ft. |
19 |
Condops * |
1 |
0 |
0 |
0 |
Avg.Asking:$9,400,000
Avg.$/sq.ft.:$4,043/sq.ft.
Avg.Size:2,325sq.ft. |
1 |
Townhouses |
0 |
0 |
0 |
0 |
|
0 |
Totals |
9 |
7 |
4 |
11 |
|
31 |
Total Weekly Asking Price Sales Volume: $228,837,500
Average Asking Price: $7,381,855
Median Asking Price: $6,280,000
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:93
*Condop is a co-op with condo rules.
TO VIEW 31 CONTRACTS SIGNED ON APARTMENTS:
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http://media.realplusonline.com/webreports/13121986b55b03.htm
http://media.realplusonline.com/webreports/13121959f01516.htm
TO VIEW 0 CONTRACTS SIGNED ON TOWNHOUSES:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com
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