OLSHAN LUXURY MARKET REPORT

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May 7-13, 2012

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

18 Contracts Signed

We came close to another blowout week with 18 contracts signed, though no single unit broke $10 million. Three penthouses were sold, co-ops and condos were split evenly, and no area dominated.

The No.1 contract was a penthouse at 186 Riverside Drive, asking $8.8 million. It consists of 3 apartments that will be combined to create 11 rooms, including 5 bedrooms, 4 baths, and a 1,600 square foot wraparound terrace. The co-op has beautiful river views and four sets of floor-to-ceiling doors that open onto the terrace. The unit was in contract within 3 weeks of listing.

The No. 2 contract was apartment 10D at 770 Park Avenue, asking $7,950,000,which was reduced from $11,750,000 when it started on the market in March 2011. It is a 10-room co-op with 4 bedrooms, a library with a loggia, 2 fireplaces, and 4.5 bathrooms. The views are north over 73rd Street and the monthly maintenance is $8,314.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
May 7-13, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

4

0

1


9

Condos

0

3

2

4

Avg.Price:$2,190/sq.ft.
Avg.Size: 2,603sq.ft.

9

Condops *

0

0

0

0


0

Townhouses

0

0

0

0


0

Totals

4

7

2

5

18

Total Weekly Asking Price Sales Volume: $100,930,000
Average Asking Price: $5,607,222
Median Asking Price: $5,250,000
Average Discount from Original Ask to Last Asking Price:17%
Average Days on Market:227
*Condop is a co-op with condo rules.

TO VIEW 18 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/12071378217cd2.htm

TO VIEW 0 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:

Donna Olshan
President
dso@olshan.com

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

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