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

21 Contracts Signed

It was a fantastic week in the luxury market: 21 contracts were signed, the most since the middle of June. Condos outsold co-ops 18-2, though many of the units had been on the market for over a year, including 4 units at 60 Riverside Boulevard, The Aldyn Condominium, developed by Extell. There was only 1 townhouse sale.

The No. 1 contract of the week was a duplex penthouse at 34 Greene Street, asking $13,750,000. The 4 bedroom, 5.5 bathroom condo loft has 4,998 interior square feet and a terrace with over 2,000 square feet. The apartment has been on the market since April 2009. The No. 2 contract was apartment 30A at 1 Central Park West, also known as Trump International Hotel and Tower, asking $11 million. The corner condo is a renovated 3 bedroom, 3.5 bath, 2,094 square foot unit, with spectacular views of Central Park.

Billionaire buyers accounted for 2 record-breaking closings. PH20 at 15 Central Park West, the most expensive residential property ever sold in Manhattan, finally closed for $88 million to 22-year-old Russian Ekaterina Rybolobleva, a university student here in the US. She is the daughter of fertilizer czar Dmitry Rybolovlev. This 6,744 square foot unit with a wraparound terrace was sold by Sandy Weill, the former CEO and Chairman of Citigroup, who promised to donate the proceeds to charity. The other sale was a 12th floor co-op at 834 Fifth for $42 million to billionaire Robert Bass and his wife Anne. The seller was Damon Mezzacappa, the former Vice Chairman of Lazard Freres.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
February 13-19, 2012

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	2	0	0	0		2
Condos	5	7	1	5	$2,325/sq.ft. 2,858 sq.ft.	18
Condops *	0	0	0	0		0
Townhouses	0	0	1	0	$1,436/sq.ft. 4,700 sq.ft.	1
Totals	7	7	2	5		21

Total Weekly Asking Price Sales Volume: $139,146,000
Average Asking Price: $6,626,000
Median Asking Price: $6,400,000
Average Discount from Original Ask to Last Asking Price:5%
Average Days on Market:408
*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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