LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
June 12-18, 2017

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above, the second week in a row of falling sales. Is this a harbinger of a typically sluggish summer ahead? Stay tuned.

The No. 1 contract was PH2009 at 1 Central Park South, asking $39.75 million, reduced from $59 million when it went on the market in 2013. This 6,316-square-foot triplex penthouse has 4 bedrooms, 5.5 bathrooms, and a terrace off a top-floor master suite. It is being sold by London developer Christian Candy, who purchased the Plaza Hotel condo for $25.9 million in 2012. Candy did some reconfiguring of the space, and offered the unit furnished. He is known for selling some of the most expensive properties in the world with record-setting prices for penthouses. In 2010, he sold a $312-million unit in Monte Carlo, and in the same year a 3-story 25,000-square-foot penthouse at his London development, One Hyde Park condominium, for $221 million.

The No. 2 contract was the combination of Townhouse A and Townhouse B at 21 East 12th Street, asking $23.5 million. The units are on the 3rd and 4th floors above a retail space in a new condo building that is under construction and designed by architect Annabelle Selldorf on the site of the former Bowlmor Lanes. The combined space has a total of 6,617 square feet, plus a 6,400-square-foot garden, one of the largest private gardens in Manhattan, that will be delivered fully landscaped by Future Green Studio. Condo amenities include a doorman, fitness room, residents’ lounge, and onsite parking.

DONE DEAL Meg Ryan (When Harry Met Sally…) closed on 6C at 443 Greenwich for $9,387,889, a 3-bedroom condo with 3,155 square feet. The building has turned into a popular haven for celebrities, with features like a private courtyard where you can unload your car and a garage with valet parking. The building has attracted the likes of Justin Timberlake and his wife Jessica Biel, and Jennifer Lawrence. Other amenities include a doorman, lap pool, fitness center, and a roof deck.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 1 0 0 Avg.Ask:
$5,622,500
2
Condos 4 0 1 11 Avg.Ask:
$9,469,333

Avg.$/sq.ft.:
$3,234/sq.ft.

Avg.Size:
2,928 sq.ft.
16
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 1 1 1 Avg.Ask:
$7,998,333

Avg.$/sq.ft.:
$1,876/sq.ft..

Avg.Size:
4,263 sq.ft.
3
TOTALS 5 2 2 12 21
Total Weekly Asking Price Sales Volume: $177,680,000
Average Asking Price: $8,884,000
Median Asking Price: $5,575,000
Average Discount from Original Ask to Last Asking Price: 13%
Average Days on Market: 405
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 18 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

© 2017
Donna Olshan and Olshan Realty
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