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

27 Contracts Signed

Super Bowl week turned out some super-sized sales including the most expensive townhouse ever sold in Manhattan: 19 East 64th Street, which went to contract for over $90 million.

19 East 64th Street is a Beaux Arts 41-foot-wide-limestone building that was sold to the government of Qatar to use as a consulate. It was built in 1931 as an art gallery for the Wildenstein family, international art dealers. The 5-story house has 18,860 square feet with a façade detailed with limestone carvings, interiors with double-height ceilings and gilded-wood paneling. The family has been embroiled in lawsuits in France, including one involving an estate within the Wildenstein family, and others that include allegations of tax evasion, money-laundering, and missing and stolen art. The sale to Qatar will result in a loss of $396,796 in annual real estate taxes to New York City because foreign governments do not pay real estate taxes.

The No. 2 contract was PHSN at 155 Franklin Street, asking $19.950 million reduced from $21.5 million when it went on the market last May. It is 2 separate duplex condos that together total 8,018 square feet. They are being sold by Lord of The Rings director Peter Jackson. The units have 12-foot ceilings and over 6,000-square feet of wraparound terraces. PHSN comes with an architect’s plan for combining the units.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 27-February 2, 2014

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	2	3	0	1	Avg.Asking:$7,861,667	6
Condos	3	6	0	8	Avg.Asking:$6,695,588 Avg.$/sq.ft.:$2,350/sq.ft. Avg.Size:2,850sq.ft.	17
Condops *	0	0	0	0		0
Townhouses	3	1	0	0	Avg.Asking:$35,812,500 Avg.$/sq.ft.:$3,211/sq.ft. Avg.Size;11,512sq.ft.	4
Totals	8	10	0	9		27

Total Weekly Asking Price Sales Volume: $303,885,000
Average Asking Price: $11,255,000
Median Asking Price: $5,995,000
Average Discount from Original Ask to Last Asking Price:2%
Average Days on Market:142
*Condop is a co-op with condo rules.

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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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