LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
March 13-19, 2017

30 Contracts Signed

A wicked nor’easter shut down Manhattan for an entire day last week, but it couldn’t muzzle the momentum in the luxury real estate market. Thirty contracts were signed at $4 million and above, a nifty number on the heels of Spring.

The No.1 contract was unit 11 at 207 West 79th Street, asking $12.5 million, sold off of floorplans. This full-floor apartment has 4,205 feet including 5 bedrooms, 5.5 bathrooms, a 49.5-foot great room. plus a library. It is in a new 19-unit condo under construction. Amenities include a doorman, gym, playroom, and storage.

The No. 2 contract was 19A at 875 Fifth Avenue, asking $11,050,000, reduced from $13.25 million when it went on the market in July 2014. The co-op has dramatic Central Park views from a 44-foot terrace that spans the living room, dining room, and library. The unit has 2 bedrooms, 2 powder rooms, and a solarium off the kitchen.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 2 0 1 Avg.Ask:
$7,078,333
6
Condos 4 5 4 10 Avg.Ask:
$6,616,739

Avg.$/sq.ft.:
$2,480/sq.ft.

Avg.Size:
2,668sq.ft.
23
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 1 0 0 Avg.Ask:
$9,500,000

Avg.$/sq.ft.:
$1,455/sq.ft..

Avg.Size:
6,531 sq.ft.
1
TOTALS 7 8 4 11 30
Total Weekly Asking Price Sales Volume: $204,155,000
Average Asking Price: $6,805,167
Median Asking Price: $5,972,500
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 306
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 29 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

© 2017
Donna Olshan and Olshan Realty
All Rights Reserved











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