Twenty-one contracts were signed last week at $4 million and above, the second week in a row of 20 or more signed contracts after a months -long slump in the luxury market. A hat trick of factors likely contributed to the recent relief rally: a robust stock market, low interest rates, and steadily decreasing prices that are enticing buyers to bid.
The No.1 contract was a sponsor unit on the 57th floor at 45 East 22nd Street, asking $14.5 million, reduced from $17.95 million when it was first listed off of floorplans in October 2014. The 4,658-square-foot condo has 4 bedrooms, 4.5 bathrooms, and sweeping, 360-degree views from the East River to the Hudson River. Common charges and real estate taxes total $19,154. The apartment is in a new 65-story glass condo with 83 units next to Madison Square Park. Amenities include a fitness center, basketball court, children’s playroom, and an outdoor terrace.
The No. 2 contract was 3E at 960 Park Avenue, asking $12.75 million; it was listed in September. This 12-room co-op has 6 bedrooms and 5.5 bathrooms. The living room with a fireplace and four of the six bedrooms span 87 feet overlooking Park Avenue. The unit has an eat-in kitchen. The monthly maintenance is $6,800, and the co-op allows 40% mortgage financing.
EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 4 | 1 | 0 | 2 | Avg.Ask: $6,895,714 |
7 |
Condos | 0 | 4 | 2 | 6 | Avg.Ask: $7,101,250 Avg.$/sq.ft.: $2,853/sq.ft. Avg.Size: 2,489 sq.ft. |
12 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: |
0 |
Townhouses | Avg.Ask: $12,050,000 Avg.$/sq.ft.: $1,176/sq.ft. Avg.Size: 10,250 sq.ft. |
2 | ||||
TOTALS | 4 | 7 | 2 | 8 | 21 |
CLICK HERE TO VIEW 19 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 2 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 |