OLSHAN LUXURY MARKET REPORT

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December 8-14, 2014

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

30 Contracts Signed

The stock market was mugged by bears last week, but the bulls continued to bet on the Manhattan luxury real estate market. Thirty contracts were signed at $4 million and above, and once again, condos out sold co-ops 22 to 4; there were 4 townhouses in the mix.

The No.1 contract was the Penthouse at 250 West Street, asking $33.2 million, reduced from $42 million when it went on the market in April 2013. The condo has a 5,718-square-foot interior, plus a 4,298-square-foot irrigated, landscaped terrace, featuring a 6-person Jacuzzi and Hudson River views. The unit has 4 bedrooms and 4.5 bathrooms, with a 42-foot living room, gas fireplace, and an eat-in kitchen.

The No. 2 contract was a townhouse at 12 East 77th Street, asking $33 million. This 5-story limestone house was built in 1896, and has 9,525 square feet. It is owned by Brandeis University, and was used for alumni activities. The house has many original details including paneling, fireplaces, and a curved wooden staircase.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
December 8-14, 2014

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

1

2

1

0

Avg.Asking:$7,560,000

4

Condos

4

2

0

16

Avg.Asking:$9,977,045
Avg.$/sq.ft.:$3,139/sq.ft.
Avg.Size: 3,179sq.ft.

22

Condops *

0

0

0

0



0

Townhouses

2

0

0

2

Avg.Asking:$13,062,500
Avg.$/sq.ft.:$2,869/sq.ft.
Avg.Size:4,553sq.ft.

4

Totals

7

4

1

18

30

Total Weekly Asking Price Sales Volume: $301,985,000
Average Asking Price: $10,066,167
Median Asking Price: $6,900,000
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:208
*Condop is a co-op with condo rules.

TO VIEW 26 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/150213ce7868d0.htm
http://media.realplusonline.com/webreports/150213c44af2a1.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/150211d18e362c.htm

Donna Olshan
President
dso@olshan.com

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

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