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February 21-27, 2011
NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
FEBRUARY 2011- THE-BIGGEST SALES MONTH SINCE 2007
February 21-27, 2011: Total Sales: 23 Contracts Signed
February 2011: 90 Contracts Signed
Breaking News: This is the biggest month for contracts signed at asking prices of $4 million and above since 2007. In February, 90 luxury properties went under contract totaling $655 million in asking prices. The average asking price was $7.3 million and more than half of the units sold within 90 days. The average discount between the original asking price and the last ask was 6%, and the spread has been narrowing every week since the beginning of the year. Last week, 23 properties sold but half of them were in the new Laureate Condominium at 76th Street and Broadway.
The No. 1 contract last week is also the most expensive house thus far to sell in Manhattan in 2011: 109 Waverly Place, asking $18.9 million. It is a 25
Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com
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