NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
January 17-23, 2011: Total Sales: 10 Contracts Signed

Ten properties went to contract--double last week's activity. Overall, the volume of sales in the last 2 weeks was exactly the same as 2010?17 total sales. Last week, condos outsold co-ops 8-1, and there was one sale of a 20' wide townhouse at 338 West 84th Street, asking $4.4 million. This two-family house needed renovation and was inexpensively priced, asking $802/sq.ft But pay attention to this: All 10 properties went to contract after price reductions that averaged 16% off their original asking price. This has been a continuing theme the past couple of months. Many of the properties that finally sell start too high.

The No. 1 sale of the week was a 4 bedroom, 3,253 sq.ft. condo at 7 Hubert Street, asking $6,895,0000. This is a solid Tribeca condominium built in 2003 and financed by Goldman Sachs' Whitehall Funds.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 17-23, 2011

Totals: 10 Sales
*Condop is a co-op with condo rules.

WEEKLY CONTRACTS SIGNED: APARTMENTS $4 Million and Above
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WEEKLY CONTRACTS SIGNED: TOWNHOUSES $4 Million and Above:
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Report Prepared by:

Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

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