This week marks a big change for The Olshan Luxury Report. We launched a new website design that
allows Olshan.com and The Luxury Report to be translated into 52 different languages. The audience
has been building, and our intent is to make The Luxury Report as accessible as possible. Individual
reports or a free subscription can now be forwarded to colleagues and friends in every corner of
the globe.
There were 16 contracts signed last week on properties at $4 million and above, a truly strong performance that
included 4 properties above $10 million and 2 above $20 million. The No.1 sale was 68A at 25 Columbus
Circle, asking $27,500,000, which actually closed last week after starting on the market in April. There is a lag
time in NYC recording deeds so we are not sure of the exact price. This Time Warner Center condo with Central
Park and Hudson River views has 5 bedrooms, 5.5 bathrooms, and 3,910 square feet.
The No. 1 contract signed on a townhouse was 16 West 12th Street, asking $21 million. The 25-foot wide house
with an elevator was purchased in January 2010 for $15,350,000 by Ara Hovnanian, Chairman and CEO of the
national homebuilder K. Hovnanian Homes. It has 8100 square feet and is in excellent condition. It was
re-listed in September.
CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES
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Source: Olshan Realty
QUICK STATS
for the week of
February 6-12, 2012
Total Weekly Asking Price Sales Volume: 140,475,000
Average Asking Price: 8,779,688
Median Asking Price: 5,362,500
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 349
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