OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email

Subscribe | Unsubscribe


March 19-25, 2012

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

19 Contracts Signed

Nineteen properties had contracts signed last week, including a year-to-date high of 5 apartments at $10 million and above. The week also was noteworthy for hitting a year-to-date record in total volume: $172,810,000 in contracts signed for properties at $4 million and above. The sales represented 8 coops, 8 condos, and 3 townhouses.

The No. 1 contract of the week was the penthouse at 1107 Fifth Avenue, asking $29.5 million. It is a 10-room co-op, the top floor of the original 54-room triplex apartment that was once owned by Marjorie Merriweather Post. The unit has 4 bedrooms, 3 bathrooms, and a magnificent terrace that wraps around the entire apartment, showcasing views of Central Park and the reservoir. The apartment, which needs a complete renovation, is being sold by the estate of Monique Uzielli, a European aristocrat who purchased the penthouse in 1959.

The No.2 contract was 14/15F at 101 Central Park West, asking $23.55 million. The co-op has been on the market for a year, starting at $26 million. The unit was sold to the current seller by actor Harrison Ford, who combined two 8-room units to make a spectacular duplex that includes a 30’ master bedroom facing Central Park. In all, the apartment has 5 bedrooms, plus 6 bathrooms, and 2 fireplaces.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
March 19-25, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

4

2

1

1


8

Condos

2

1

2

3

$2,716/sq.ft
Avg.Size: 2,893 sq.ft.

8

Condops *

0

0

0

0


0

Townhouses

1

0

0

2

$2,972/sq.ft.
Avg.Size: 3,330 sq.ft.

3

Totals

7

3

3

6

19

Total Weekly Asking Price Sales Volume: $172,810,000
Average Asking Price: $9,095,263
Median Asking Price: $6,700,000
Average Discount from Original Ask to Last Asking Price:3%
Average Days on Market:183
*Condop is a co-op with condo rules.

TO VIEW 16 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/120524e22c0d97.htm

TO VIEW 3 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:
http://media.realplusonline.com/webreports/12052402e37767.htm

Donna Olshan
President
dso@olshan.com

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

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook