LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
January 16-22, 2017

18 Contracts Signed

Eighteen contracts were signed last week at $4 million and above, a disappointment after two robust weeks that started the new year. But if you are one of those folks who looks at a glass as half-full rather than half-empty, that number is an improvement over the same week in 2016, when only 15 contracts were signed.

The No. 1 contract was a Penthouse at 210 West 77th Street, asking $21.5 million. The duplex unit has 5,973 square feet including 5 bedrooms and 5.5 bathrooms, plus a 44-foot living room with a fireplace and Juliet balconies. There is also a top floor terrace measuring over 1000 square feet. Amenities in this new condo include a doorman, fitness center, garage, and a roof deck for tenants.

The No. 2 contract was Apartment G at 1110 Park Avenue, asking $18.9 million, reduced from $25.75 million when it went on the market in October 2014 in a new 9-unit condo built by Toll Brothers. The duplex apartment on the 10th and 11th floors has 5,617 square feet including 4 bedrooms and 4.5 bathrooms, with a 50-foot expanse on both floors that overlooks Park Avenue. It also has a formal dining room, library, 11-foot ceilings, and a gas fireplace. Amenities include a doorman, fitness center, storage, and wine vaults.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 1 0 0 Avg.Ask:
$6,021,250
4
Condos 1 1 2 10 Avg.Ask:
$8,570,829

Avg.$/sq.ft.:
$2,992/sq.ft.

Avg.Size:
2,865 sq.ft.
14
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 4 2 2 10 18
Total Weekly Asking Price Sales Volume: $143,986,600
Average Asking Price: $7,999,256
Median Asking Price: $6,150,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 443
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 18 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

© 2016
Donna Olshan and Olshan Realty
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