LUXURY MARKET REPORT 2016


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 21-27, 2016

16 Contracts Signed

Sixteen contracts were signed last week at $4 million and above, the second-best Thanksgiving week total since we started keeping track in 2006. The best Turkey week in the last 10 years? That was in 2014, when 17 contracts were signed.

The No.1 contract was a brownstone at 21 East 37th Street, asking $14.5 million. This 25-foot-wide, four-story house was built in 1862, and retains many original details including decorative 13-foot ceilings. This house last sold in 1997 for $1.6 million.

The No. 2 contract was 3C at 443 Greenwich Street, asking $10.95 million. The apartment has 4 bedrooms, 4.5 bathrooms, and 3,667 square feet. The building was bought in foreclosure in 2012 for $150 million. Built in the late 1880s, it is a former factory that was converted into a 53-unit condo, and features large windows with huge shutters. Closings started in June. Amenities include a lap pool, fitness center, garage with valet parking, landscaped courtyard, roof deck, storage units, and wine cellars.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 2 0 1 Avg.Ask:
$4,887,500
4
Condos 4 0 0 7 Avg.Ask:
$6,175,455

Avg.$/sq.ft.:
$2,098/sq.ft.

Avg.Size:
2,944 sq.ft.
11
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 1 0 Avg.Ask:
$14,500,000

Avg.$/sq.ft.:
$1,559/sq.ft..

Avg.Size:
9,300 sq.ft.
1
TOTALS 5 2 1 8 16
Total Weekly Asking Price Sales Volume: $101,980,000
Average Asking Price: $6,373,750
Median Asking Price: $5,700,000
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 299
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 15 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

© 2016
Donna Olshan and Olshan Realty
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