OLSHAN LUXURY MARKET REPORT

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July 20-26, 2015

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

23 Contracts Signed

Here’s something we haven’t seen in awhile: Two Upper West Side co-ops registered the top 2 contracts of the 23 signed last week at $4 million and above—and both had a bit of glamour and history associated with them.

The No. 1 contract was the PH at 137 Riverside Drive, asking $24 million, reduced from $38 million when it went on the market in March 2014. This 17-room co-op, once the home of publisher William Randolph Hearst, has 7 bedrooms, 6 bathrooms, 5 powder rooms, and spectacular river views with 5 terraces totaling over 7,000 square feet.

The No. 2 contract was Apartment 43 at 1 West 72nd Street, asking $23.5 million, reduced from $26 million when it went on the market in November. This 9-room co-op, in the legendary Dakota, has a living room, 3 bedrooms, and a library facing Central Park. The unit has 13-foot ceilings with many details from the time the building was completed in 1884 including wainscoting, pocket doors, and a charming library with a floor-to-ceiling window that opens onto a Juliet balcony overlooking the Park.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
July 20-26, 2015

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

2

0

1

Avg.Ask:$14,773,750

4

Condos

4

2

3

7

Avg.Ask:$7,846,656
Avg.$/sq.ft.:$2,972/sq.ft.
Avg.Size: 2,640sq.ft.

16

Condops *

0

0

0

0



0

Townhouses

0

1

0

2

Avg.Ask:$12,833,333
Avg.$/sq.ft.:$2,239/sq.ft.
Avg.Size: 5,732sq.ft.

3

Totals

5

5

3

10

23

Total Weekly Asking Price Sales Volume: $223,141,500
Average Asking Price: $9,701,804
Median Asking Price: $8,000,000
Average Discount from Original Ask to Last Asking Price:10%
Average Days on Market:219
*Condop is a co-op with condo rules.

TO VIEW 20 CONTRACTS SIGNED ON APARTMENTS:
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TO VIEW 3 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/15092377e52c99.htm

Donna Olshan
President
dso@olshan.com

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

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