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

22 Contracts Signed

Wall Street may be dreading the fiscal cliff and hoping for a deal that will catapult the Dow. But the Santa Claus rally is already here in the luxury real estate market. Happy Holidays! There were 22 contracts signed last week at $4 million and above--and 7 were over $10 million. The top 2 sales were downtown penthouse condos.

The No.1 contract was the duplex Penthouse at 350 West Broadway, asking $20,650,000, reduced from $26 million when it went on the market in March 2009. This 5,912 square foot condo is configured as 3 bedrooms, 4 baths, 2 powder rooms, an exercise room, and a media room. The unit has 2 balconies and a 1,330 square foot rooftop terrace. It is a high-end glass box design with 10’ ceilings and 360-degree views.

The No.2 contract was Penthouse C at 200 Chambers Street, asking $16,500,000, reduced from $17,995,000 when it went on the market in July 2011. This is a 4 bedroom, 4.5 bathroom condo with 4,700 square feet and breathtaking Hudson River and city views from the 30th floor. The unit has been renovated with a lot of custom finishes including kitchen cabinets by Poliform. The unit was bought in 2007 for $7,092,111.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
December 3-9, 2012

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	2	1	0	0		3
Condos	4	0	1	9	Avg.Price:$2,811/sq.ft. Avg.Size:3,286sq.ft.	14
Condops *	0	0	0	0		0
Townhouses	2	1	0	2	Avg.Price:$2,063/sq.ft. Avg.Size:5,082sq.ft.	5
Totals	8	2	1	11		22

Total Weekly Asking Price Sales Volume: $206,895,000
Average Asking Price: $9,404,318
Median Asking Price: $7,910,000
Average Discount from Original Ask to Last Asking Price:8%
Average Days on Market:207
*Condop is a co-op with condo rules.

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TO VIEW 5 CONTRACTS SIGNED ON TOWNHOUSES:
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Donna Olshan
President
dso@olshan.com

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

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