Twenty-five contracts were signed last week at $4 million and above, the 10th straight week of 20+ sales. Condos outsold co-ops, 16 to 6, and 3 townhouses were in the mix. Properties on average were reduced by 10% before they went to contract. The average days on the market was 534.
Stat Geek Alert: Seven of these properties, all condos sold by developers, went to contract and closed in the same week, thus avoiding the increases in the new New York State Mansion Tax that went into effect today (July 1).
The No. 1 contract was a townhouse at 36-38 East 74th Street, asking $28.75 million. It was also the site of this year’s Kips Bay Decorator’s Show House. The 6-story, 40-foot-wide home has 14,000 square feet, 12 bedrooms, 8 bathrooms, a powder room, 10 fireplaces, a 40’ x 38’ garden, and an elevator.
The No. 2 contract was a duplex condo at 515 Park Avenue, asking $26.8 million. It has 6,500 square feet including 5 bedrooms, 5.5 bathrooms, a 40-foot living room, a 30-foot formal dining room, and views of Central Park. The owner purchased the unit for $23.98 million in January 2010.
EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 3 | 2 | 0 | 1 | Avg.Ask: $6,537,000 |
6 |
Condos | 3 | 3 | 1 | 9 | Avg.Ask: $9,447,500 Avg.$/sq.ft.: $2,970/sq.ft. Avg.Size: 3,393 sq.ft |
16 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: |
0 |
Townhouses | Avg.Ask: $15,465,000 Avg.$/sq.ft.: $1,965/sq.ft. Avg.Size: 7,870 sq.ft. |
3 | ||||
TOTALS | 7 | 5 | 1 | 12 | 25 |
CLICK HERE TO VIEW 22 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 3 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |