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December 13-19 2010
NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
December 13-19 2010: Total Sales: 17
The luxury market is showing some strength during the Christmas season with last week totaling 17 sales?four more than the week before. Condos outsold Co-ops 8-7. The East Side was the big winner with 9 sales to 3 in Midtown, 3 Downtown and 2 on the Upper West Side.
The Trophy sale was Leslie Wexner's 23-room 5th and 6th floor duplex at 834 Fifth for $34 million. The strong rumor is the buyer is the daughter of a recently deceased financier/philanthropist. The apartment was about to go on the market when the buyer and her husband grabbed it. The other interesting thing is the buyer's sister closed on a $26 million apartment in November in one of Park Avenue's fanciest buildings. That apartment also was not on the market. So these sisters are driving the prices of mid-floor, off-market properties in some of Manhattan's most exclusive co-ops.
The downtown sale of the week was a penthouse in the Chelsea Enclave (177 Ninth Avenue at 21st Street). It is a $10.75 million condop with 3,400 interior square feet and two wrap terraces totaling 2,000 sq.ft. A condop is a co-op with condo rules and in this particular building, the condop leases the land.
There was only 1 townhouse sale and its been the lone sale in the last two weeks in the Manhattan townhouse market. It is a 16' wide house at 387 West End Avenue (78th-79th Streets) and was asking $4,995,000.
NYC Luxury Tracking Scoreboard: Sales $4 Million and Above December 13-19, 2010
| | East | West | Midtown | Downtown | Asking $/sq.ft. | Totals |
Co-ops | 6 | ? | 1 | ? | ? | 7 |
Condos | 3 | 1 | 2 | 2 | $2,195/sq.ft.
Average size unit is 2,538/sq. ft.
| 8 |
Condops * | ? | ? | ? | 1 | $3,114/sq.ft.
Average size unit is 3,400/sq. ft. | 1 |
Townhouses | ? | 1 Asking $1,301 sq. ft. | ? | ? | ? | 1 |
Totals | 9 | 2 | 3 | 3 |
? | 17 |
Totals: 17 Sales
*Condop is a co-op with condo rules.
WEEKLY REAL ESTATE SALES: APARTMENTS
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WEEKLY REAL ESTATE SALES: TOWNHOUSES
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Luxury Property Specialist:
Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com
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