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

18 Contracts Signed

The two snowstorms that hit Manhattan last week couldn’t bury the luxury real estate market: 18 contracts were signed at $4 million and above, with condos outselling co-ops 12 to 5. There was one townhouse in the mix.

The No.1 contract was PH3B at 150 Columbus Avenue, asking $16.5 million, reduced from $29 million when it went on the market 13 months ago. This duplex condo has 5 bedrooms, 6.5 baths, and 5,500 square feet with a 1,100 square foot terrace and spectacular views of the city and Lincoln Center. The living room is 37 feet in length and has a double-height ceiling.

The No. 2 contract was M4 at 150 West 12th Street, asking $15,770,000. This 6,299-square- foot duplex maisonette in the new Greenwich Lane condo has 5 bedrooms, 5.5 bathrooms, and a 986-square foot garden. Other features include 11- to 12-foot ceilings with a sitting room and loggia off the master bedroom. The Greenwich Lane is a 5-building condo complex being built by the Rudin Organization on the site of the former St. Vincent’s Hospital. Amenities include a doorman, concierge, health club, a 25-meter pool, garage, and storage. Completion of the complex is not expected for another 2 years.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
February 3-9, 2014

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	4	1	0	0	Avg.Asking:$5,909,000	5
Condos	0	4	1	7	Avg.Asking:$8,767,083 Avg.$/sq.ft.:$2,542/sq.ft. Avg.Size:3,449sq.ft.	12
Condops *	0	0	0	0		0
Townhouses	0	1	0	0	Avg.Asking:$9,900,000 Avg.$/sq.ft.:$2,012/sq.ft. Avg.Size:4,920sq.ft.	1
Totals	4	6	1	7		18

Total Weekly Asking Price Sales Volume: $144,650,000
Average Asking Price: $8,036,111
Median Asking Price: $5,937,500
Average Discount from Original Ask to Last Asking Price:8%
Average Days on Market:89
*Condop is a co-op with condo rules.

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TO VIEW 1 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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