LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
December 3-9, 2018

18 Contracts Signed

Eighteen contracts were signed last week, the lowest total for the start of December since 2015, when 19 contracts were signed. In case you are wondering, 30 contracts were signed in the same week in both 2017 and 2016.

The No.1 contract was 603/605 in 1 Central Park South, asking $23.5 million. This Plaza Hotel condo has 3,196 square feet including 4 bedrooms and 4.5 bathrooms. All the rooms face Central Park. The apartment comprises two units that were purchased separately for a total of $15,275,000 in the fall of 2014 and then combined. Plaza condos have access to hotel amenities.

The No. 2 was the 3rd floor at 503 West 24th Street, asking $19 million. It was sold as a raw white box in a new 6-unit condo building called The Getty, designed by Peter Marino. Amenities include a doorman and fitness room.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 0 0 1 Avg.Ask:
$5,847,500
4
Condos 1 2 3 4 Avg.Ask:
$10,204,500

Avg.$/sq.ft.:
$3,134/sq.ft

Avg.Size:
3,256 sq.ft.
10
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 1 0 2 Avg.Ask:
$7,973,750

Avg.$/sq.ft.:
$1,747/sq.ft..

Avg.Size:
4,564 sq.ft.
4
TOTALS 5 3 3 7 18
Total Weekly Asking Price Sales Volume: $157,330,000
Average Asking Price: $8,740,556
Median Asking Price: $5,222,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 400
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

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Donna Olshan and Olshan Realty
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