OLSHAN LUXURY MARKET REPORT

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February 1-7, 2016

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

21 Contracts Signed

Finally. The Manhattan luxury real estate market managed to break 20 last week--21 contracts were signed at $4 million and above—for the first time this year. Not a spectacular number, but we’ll take it.

The No.1 contract was 447 Hudson Street, a house, asking $18.5 million, that is actually 2 connected buildings on a double lot. The complex has 4,466 square feet including a restaurant with 4 apartments above it. It was purchased in 2003 for $250,000 and then renovated.

The No. 2 contract was 17 Harrison Street, asking $12.995 million, reduced from $13.5 million when it went on the market in June. This 23-foot-wide Tribeca house has 2 units that total 5,700 square feet: an owner’s triplex and another apartment. Together there are 7 bedrooms and 4.5 bathrooms. It was last renovated in the middle 1990s.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
February 1-7, 2016

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

2

2

1

2

Avg.Ask:$6,332,857

7

Condos

0

2

1

9

Avg.Ask:$5,414,833
Avg.$/sq.ft.:$2,492/sq.ft.
Avg. Size:2,371sq.ft.

12

Condops *

0

0

0

0



0

Townhouses

0

0

0

2

Avg.Ask:$15,747,500
Avg.$/sq.ft.:$3,098/sq.ft.
Avg.Size: 5,083sq.ft.

2

Totals

2

4

2

13

21

Total Weekly Asking Price Sales Volume: $140,803,000
Average Asking Price: $6,704,905
Median Asking Price: $5,495,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:199
*Condop is a co-op with condo rules.

TO VIEW 19 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:
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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/1604070c04b94a.htm

Donna Olshan
President
dso@olshan.com

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

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