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August 15-21, 2011
NYC Residential Real Estate Luxury Tracking Scoreboard
Apartments and Townhouses under Contract $4 million and above
August 15-21, 2011: 7 Contracts Signed
The 7 contracts signed last week matches the third week in August in 2010, an improvement over the 5 contracts that were signed in the same period in 2007 and 2008. The big news of the week: the sale of the 11th floor co-op at 927 Fifth Avenue, asking $31.5 million. In December 2010, this same apartment was purchased for $29.1 million by Will Zeckendorf, developer of 15 Central Park West, where he sold his own $40 million condo penthouse, the No.1 apartment sale of 2010.
The 11th floor at 927 Fifth Avenue has 14 rooms, 5 bedrooms, and 5.5 bathrooms, with 55' feet facing Central Park. It was previously owned by the late Bruce Wasserstein, Chairman and Chief Executive of Lazard Ltd.
Also, a $30 million unit closed on the 29th floor in The Ritz-Carlton Condo at 50 Central Park South . It has 4 bedrooms and 4 bathrooms, with 5,705 square feet and an unconventional U-shaped layout. It has been on and off the market since the end of 2008. The apartment has 4 terraces and spectacular views of Central Park from the living room, master bedroom, library, formal dining room and family room. It was sold by hedge funder Scott Bommer to a limited liability company represented by a Miami attorney. Mr. Bommer has been involved in his share of high-end Manhattan deals: in 2008, he bought a $46 million penthouse at 1060 Fifth Avenue and then sold it in the same year for $48,836,000
NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
August 15-21, 2011
| | East | West | Midtown | Downtown | Asking $/sq.ft. | Totals |
Co-ops | 1 | | | | | 1 |
Condos | | 1 | | 4 | Avg. Price: $1,938/sq.ft.
Avg. Size : 2,533.ft.
| 5 |
Condops * | | | | |
| 0 |
Townhouses | | 1 | | | Avg. Price: $841/sq.ft.
Avg. Size: 6,300
| 1 |
Totals | 1 | 2 | | 4 |
| 7 |
*condop is a co-op with condo rules
Total Weekly Asking Price Sales Volume: $61,535,000
Average Asking Price: $8,790,714
Median Asking Price: $5,450,000
Average Discount from Original Ask to Last Asking Price: 5.5%
Average Days on Market: 326
TO VIEW August 15-21, 2011: 6 CONTRACTS SIGNED ON APARTMENTS:
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http://media.realplusonline.com/webreports/111020ae429cab.htm
TO VIEW August 15-21: 1 CONTRACT SIGNED ON A TOWNHOUSE:
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TO VIEW $30 Million Closed Property at 50 Central Park South 29th Floor:
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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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