LUXURY MARKET REPORT 2016


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
July18-24, 2016

15 Contracts Signed

To paraphrase a Gershwin tune: Summertime, and the selling ain"t easy/ Buyers gone fishing, and the volume is low.

Fifteen contracts were signed last week in Manhattan at $4 million and above, two less than last week and three less than the week before that. We haven’t cracked 20 contracts signed since the last week in June.

The No. 1 contract was 10A at 155 West 11th Street, asking $17,025,000. This 3,951-square-foot unit has 4 bedrooms and 4.5 bathrooms, and features a large living room and a family room off a kitchen with a balcony. It is in the Greenwich Lane, a new complex of 5 buildings with 194 condos and 5 townhouses that is reporting over 96% sold. Remaining inventory is priced north of $3,500/square foot. Amenities include concierge, doorman, fitness center, pool, children’s room, and a garage.

The No. 2 contract was 18F at 530 Park Avenue, asking $11.975 million, reduced from $16.5 million when it went on the market in September. The condo has 3,328 square feet with 3 bedrooms, 3.5 bathrooms, and 2 terraces totaling 1,009 square feet. The living room, dining room, and family room face Park Avenue.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 2 0 2 Avg.Ask:
$5,316,500
6
Condos 2 1 2 4 Avg.Ask:
$8,066,111

Avg.$/sq.ft.:
$3,071/sq.ft.

Avg.Size:
2,627sq.ft.
9
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 3 2 6 15
Total Weekly Asking Price Sales Volume: $104,494,000
Average Asking Price: $6,966,267
Median Asking Price: $5,590,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 333
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 15 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
All Rights Reserved











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