LUXURY MARKET REPORT 2017


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
April 17-23, 2017

30 Contracts Signed

No sooner were the Easter-Passover celebrations over than the luxury market bounced back big time. Thirty contracts were signed last week at $4 million and above, double the previous week’s total.

The No.1 contract was 62A at 252 East 57th Street, asking $13.2 million. This 4,616-square-foot unit has 5 bedrooms and 6 bathrooms, a 39-foot living room with a working fireplace, a balcony, and spectacular views of Central Park and the East River. It also has 11.5-foot ceilings, and is in a new condo designed by Skidmore, Owings & Merrill. Amenities include a concierge, garage, fitness center, a children’s playroom, a 75-foot swimming pool, a library, billiards and screening rooms, a catering kitchen and dining room, bicycle and storage rooms, and furnished guest suites. There is also a play space and grooming station for your dog.

The No. 2 contract was Apartment 5 at 40 East 72nd Street, asking $12.15 million, reduced from $14.45 million when it went on the market in December 2014. The unit has 3,132 square feet including 3 bedrooms, each with its own balcony, and 3.5 bathrooms. A 29.5-foot living room and formal dining room face 72nd Street. The apartment is in a new 6-unit condo with a doorman--but no other amenities.

Done Deal: A record price for the most expensive co-op ever sold on the Upper West Side was recorded last week when a triplex penthouse at 145 Central Park closed for $45 million, reduced from $75 million when it went on the market in 2014. The penthouse was owned by the actress Demi Moore who purchased the property for $7,729,500 in 1990 from Saturday Night Fever producer Robert Stigwood. This south tower penthouse in the legendary San Remo has approximately 7,000 interior square feet and 1,500 square feet of terraces.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 5 0 0 3 Avg.Ask:
$5,653,750
8
Condos 1 4 2 14 Avg.Ask:
$6,635,190

Avg.$/sq.ft.:
$2,452/sq.ft.

Avg.Size:
2,706 sq.ft.
21
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 0 Avg.Ask:
$6,500,000

Avg.$/sq.ft.:
$2,158/sq.ft..

Avg.Size:
3,012 sq.ft.
1
TOTALS 7 4 2 17 30
Total Weekly Asking Price Sales Volume: $191,069,000
Average Asking Price: $6,368,967
Median Asking Price: $5,497,500
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 295
*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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