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

34 Contracts Signed

The market defied gravity last week, and I am not talking about the Oscar-nominated movie. 34 contracts were signed at $4 million and above including 13 that were asking $10 million and up. The numbers rocked: The average price of the 34 properties that went to contract was more than $9 million. Condos outsold co-ops 21 to 6. It was a big week for townhouses as well: 7 contracts were signed.

The No.1 contract was Unit 807-809 that was sold with a unit across the hall, 808, at 1 Central Park South, asking $42 million, reduced from $52 million when it went on the market in May 2012. These Plaza Condominium units total 5,850 square feet with an asking price of $7,179/square foot. Unit 807-809 has 3 bedrooms, a library, and 4.5 bathrooms with spectacular views from 75-feet of frontage that overlooks Central Park. Unit 808 has one bedroom and works well as a guest apartment. The Plaza has five-star hotel services including maid, valet, concierge, multiple restaurants, and a fitness center.

The No. 2 contract was a townhouse at 120 East 71st Street, asking $15.9 million, reduced from $18.9 million when it went on the market in November 2011. This 17-foot-wide house has 4,976 sq.ft., and was purchased in 2009 for $5.7 million. The house was completely renovated including an elevator and a façade that was changed to limestone.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
February 24-March 2, 2014