OLSHAN LUXURY MARKET REPORT

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October 13-19, 2014

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

31 Contracts Signed

So far the stomach-churning volatility of the stock market hasn’t seemed to disrupt the steady pace of the Manhattan luxury real estate market. Thirty-one contracts were signed last week at $4 million and above. And for all of you stat geeks, get this: The same number of contracts were sold in the same week last year, and 33 in the year before that. What makes the third week of October so frothy? Who knows?

The No.1 contract last week was 9F at 115 Central Park West, asking $10,950,000. This 3-bedroom, 3.5-bathroom co-op sold within a month of listing, and features Central Park views from the living room, the library/2nd bedroom, and the master bedroom, which has a loggia/sunroom. The unit is in The Majestic, an Art Deco building with doormen and elevator men, a fitness center, a children’s playroom, and a roof terrace with a solarium.

The No. 2 contract was PH58B at 50 West Street, asking $10,550,000. Sold off of floorplans, this 3-bedroom, 4-bathroom unit has 3,594 square feet. 50 West Street is a 64-story condo with 191 units offering breathtaking views of New York Harbor and the Statue of Liberty. Sales started in July, and the developer is reporting 79 contracts signed, averaging $2,189/sq.ft. Designed by Helmut Jahn with interiors by Thomas Juul-Hansen, amenities include a fitness center with a 60-foot pool and a snazzy observatory terrace with a private dining/party space and 2 barbecues. One other cool feature: commercial space on the 3rd floor offering 15 offices for sale with a shared conference facility and pantry.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 13-19, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

2

0

0

Avg.Asking:$6,498,333

5

Condos

3

0

2

19

Avg.Asking:$6,417,955
Avg.$/sq.ft:$2,347/sq.ft.
Avg.Size: 2,734 sq.ft.

24

Condops *

0

0

0

0



0

Townhouses

1

0

0

1

Avg.Asking:$5,750,000
Avg.$/sq.ft.:$1,710/sq.ft.
Avg.Size:3,363 sq.ft.

2

Totals

7

2

2

20

31

Total Weekly Asking Price Sales Volume: $201,940,000
Average Asking Price: $6,514,194
Median Asking Price: $6,150,000
Average Discount from Original Ask to Last Asking Price:2%
Average Days on Market:189
*Condop is a co-op with condo rules.

TO VIEW 29 CONTRACTS SIGNED ON APARTMENTS:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/14121832a95ba1.htm
http://media.realplusonline.com/webreports/141218a2347766.htm

TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/141218dbbf6d3d.htm

Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

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