LUXURY MARKET REPORT
July 21-27, 2014

Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

18 Contracts Signed

Guess it was too hot not to cool down. And I am not talking about the weather: The Manhattan real estate luxury market, after a July-record three-week run, finally settled into typical summer rhythm, as only 18 contracts were signed at $4 million and above. So far, the average asking price is up 6% over last July.

The No.1 contract: was Apartments 9G and 9M at 15 Central Park West, asking $29 million, reduced from $32 million when they went on the market over a year ago. These 2 apartments need to be combined. They were bought separately by the same owner between 2010 and 2011 for a total of $21,650,000. The 3-bedroom and 2-bedroom units total 4,077 square feet, plus terraces that add up to 3,088 square feet and feature city views with little peeks of Central Park. The asking price translates to $7,113/sq.ft--no surprise for the No.1 condo in New York, and one of the most famous residential buildings in the world.

The No. 2 contract was PHB at 71 Laight Street, asking $23 million. This 5,620-square-foot duplex has 6 bedrooms, 5 baths, 3 powder rooms, a family room, and a 2,625 square foot terrace. It is in the new Sterling Mason condominium, a former masonry warehouse loft that is being transformed into 32 units with amenities that include a concierge, doorman, fitness center, yoga studio, children’s playroom, and a garage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
July 21-27, 2014

...GET MORE >

Email Olshan Olshan on Twitter Olshan on Facebook