LUXURY MARKET REPORT
April 20-26, 2015

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

41 Contracts Signed

Manhattan was jumping last week with Broadway premieres (Something Rotten!, The Visit, Dr. Zhivago) that grabbed the spotlight—and a luxury real estate market that danced to the tune of a year-to-date high of 41 contracts signed at $4 million and above. Condos outsold co-ops, 28 to 11, nevertheless, it was the highest number of co-op contracts since the first week in December. Two townhouses were in the mix.

The No.1 contract was 14A at 1040 Fifth Avenue, asking $34.5 million, reduced from $43 million when it went on the market in January 2014. This 10-room co-op has 3 bedrooms, 4.5 bathrooms, a library, a master bedroom with a terrace, staff quarters, and an office. The unit features Central Park views from the living room and the formal dining room, off of which is a planting terrace. 14A was purchased in 2008 for $21.42 million by Jeff Blau, the CEO of Related, who then undertook a gut renovation. In March, The Daily News reported that Blau purchased a $51 million townhouse at 113-115 East 70th Street, owned by fashion designer Reed Krakoff, the former executive creative director of Coach.

The No. 2 contract was 14 East 63rd Street, asking $25 million. This 5-story, 25-foot-wide brownstone has 8,519 square feet, and is configured as a 7-bedrooms with 5 bathrooms above a ground-floor gallery space. The house has 4 fireplaces, a south facing garden, and a parlor floor with 14-foot ceilings.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 20-26, 2015

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