OLSHAN LUXURY MARKET REPORT

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April 23-29, 2012

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

22 Contracts Signed

It was the blowout week of the year! 22 contracts were signed, the most recorded for 2012. 10 of the contracts were in downtown condos, underscoring the popularity of new construction in Manhattan.

The No.1 contract was Apartment 8N/9W at 88 Central Park West, asking $22 million. This 12-room duplex co-op has 5 bedrooms, 5.5 bathrooms , a 30 x 20 family room, and approximately 6,000 square feet. The living room and master bedroom face Central Park.

The No. 2 sale was a brownstone at 62 East 83rd Street, asking $11,450,000. It went to contract within a month of listing. The 7,500 square foot house is 20’ wide with 5 bedrooms, an elevator, and a garden facing south. The new occupants will be hit with a hefty property tax bill-- $102,000/year.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 23-29, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

3

2

1

1


7

Condos

2

0

0

10

Avg.Price:$1,990sq.ft.
Avg.Size:2,809sq.ft.

12

Condops *

0

0

0

0


0

Townhouses

2

1

0

0

Avg.Price:$1,523sq.ft.
Avg.Size:6,116sq.ft.

3

Totals

7

3

1

11

22

Total Weekly Asking Price Sales Volume: $151,780,000
Average Asking Price: $6,899,091
Median Asking Price: $6,037,500
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:181
*Condop is a co-op with condo rules.

TO VIEW 19 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/120628b2d24931.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/120628c91df988.htm

Donna Olshan
President
dso@olshan.com

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

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