LUXURY MARKET REPORT 2016


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
April 18-24, 2016

21 Contracts Signed

Of the 21 contracts signed last week at $4 million and above, only one was a co-op. The activity included 17 condos and 3 townhouses. By the way, the total number of sales is roughly equivalent to the number of contracts signed in the same week in 2012, a consistent theme so far this year. I guess you could say: 2016 is the new 2012.

The No.1 contract was 28E at 1965 Broadway, asking $15.9 million. This 6-bedroom, 5.5-bathroom unit is in the Grand Millennium condo. It has 4,100 square feet that includes a 48-foot living room/dining room expanse, eat-in kitchen, and a 25-foot master bedroom. The unit features panoramic city views. It was purchased in 2013 for $10.250 million.

The No. 2 contract was 28ABC at 40 East 94th Street, asking $14 million. Three apartments were combined in Carnegie Hill Tower condominium to create a 4,600-square-foot unit with spectacular views of Central Park and the reservoir. The apartment is configured as 5 bedrooms, 4.5 bathrooms, a media room, and a library.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 0 0 0 Avg.Ask:
$7,995,000
1
Condos 1 4 2 10 Avg.Ask:
$8,290,000

Avg.$/sq.ft.:
$2,684

Avg.Size:
3,088
17
Condops * 0 0 0 0


0
Townhouses 0 0 0 3 Avg.Ask:
$11,781,667

Avg.$/sq.ft.:
$2,008.

Avg.Size:
5,868
3
TOTALS 2 4 2 13 21
Total Weekly Asking Price Sales Volume: $184,270,000
Average Asking Price: $8,774,762
Median Asking Price: $7,995,000
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 244
*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











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