OLSHAN LUXURY MARKET REPORT

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August 18-24, 2014

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

19 Contracts Signed

I am tempted to say that only 19 properties went to contract last week at $4 million and above, but on second thought, for the next to last week of August it’s pretty good. With one week more to go in August, traditionally a very slow month, the Manhattan luxury real estate market held up nicely.

The No.1 contract: was Apartment 9A at 15 Union Square West, asking $10,750,000, reduced $1 million from when it went on the market in December. This duplex condo has 2,806 square feet including 3 bedrooms and 3.5 baths. It also has a 483-square-foot terrace and 2 gas fireplaces, and features beautiful views of Union Square Park.

The No. 2 contract was a townhouse at 395 Bleecker Street, asking $9 million. This landmark 4-story, 2-family house built in 1853, has 3,040 square feet and shares a private landscaped garden with other townhouses, known as Bleecker Gardens. The houses, located between Bleecker and Perry Streets, share services provided by a superintendent, gardener, and managing agent.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
August 18-24, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

0

0

1

Avg. Asking:$6,375,000

2

Condos

0

3

4

6

Avg.Asking:$5,996,923
Avg.$/sq.ft.:$2,284/sq.ft.
Avg.Size: 2,626sq.ft.

13

Condops *

0

0

0

0



0

Townhouses

2

0

0

2

Avg.Asking:$7,573,750
Avg.$/sq.ft.:$2,189/sq.ft.
Avg.Size:3,460sq.ft.

4

Totals

3

3

4

9

19

Total Weekly Asking Price Sales Volume: $121,005,000
Average Asking Price: $6,368,684
Median Asking Price: $5,500,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:264
*Condop is a co-op with condo rules.

TO VIEW 15 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/1410236c31e825.htm


TO VIEW 4 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/14102341c96eb2.htm

Donna Olshan
President
dso@olshan.com

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

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