LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
May 14-20, 2018

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above--12 of those properties, including a townhouse, were sold by developers.

For the fourth time this year, the No.1 contract was at 432 Park Avenue. This time, it was 93A, asking $40.75 million. The condo has 3,952 square feet including 3 bedrooms and 3.5 bathrooms. It features 12.5-foot ceilings and windows that measure 10 x10 feet with views of Central Park, the Hudson and East Rivers. 432 Park is 96 stories high with 106 units, a concrete-and-glass edifice designed by Rafael Vinoly that is 1,396-feet tall and can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

The No. 2 contract was a 16B/17AB at 211 Central Park West, asking $26.5 million, reduced from $29.5 million when it went on the market in September. This 14-room duplex in the Beresford co-op is being sold by movie producer Bob Weinstein, who paid $20 million in late 2004. The apartment has 5 bedrooms, 6 bathrooms, a powder room, 3 fireplaces, and 2 terraces with south views of Central Park and the Natural History Museum.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 2 0 1 Avg.Ask:
$9,708,000
5
Condos 1 2 4 8 Avg.Ask:
$9,732,000

Avg.$/sq.ft.:
$3,846/sq.ft.

Avg.Size:
2,531 sq.ft.
15
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$26,500,000

Avg.$/sq.ft.:
$3,602/sq.ft..

Avg.Size:
7,357 sq.ft.
1
TOTALS 3 4 4 10 21
Total Weekly Asking Price Sales Volume: $221,020,000
Average Asking Price: $10,524,762
Median Asking Price: $6,995,000
Average Discount from Original Ask to Last Asking Price: 4%
Average Days on Market: 450
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 20 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES

Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com