LUXURY MARKET REPORT 2019


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
February 4-10, 2019

16 Contracts Signed

Sixteen contracts were signed last week at $4 million and above, one more than the previous week, continuing the lackluster trend of the last few months. Condos outsold co-ops, 9 to 5, and 2 townhouses were in the mix. Only 4 condos were sold by developers.

Stat Geek Alert: For the first time since March 2017, the top 2 contracts were in co-ops.

The No.1 contract was 14/15A at 941 Park Avenue, asking $12.5 million, reduced from $13.5 million when it went on the market in August. The duplex has 4 bedrooms and 4.5 bathrooms. Most of the rooms face Park Avenue including a 28’ x 28’ living room, a library, and master suite with a dressing room. The unit also has an eat-in kitchen with wine storage, staff and laundry rooms. The building has a gym.

The No. 2 contract was the 9th floor at 117 East 72nd Street, asking $11.5 million, reduced from $12.5 million when it was listed in October. This 14-room co-op has 4 bedrooms, 6 bathrooms, a library, and 3 fireplaces, plus 2 staff rooms. The living room, library, and master have wood-burning fireplaces, and all of them face south onto 72nd Street. The apartment needs work.

Star Sale: The top townhouse sale was 45 West 84th Street, asking $9.75 million, reduced by $1 million when it was listed in October. The seller was actress Mariska Hargitay of Law & Order: SVU fame. This 6-story, 6,925-square-foot brownstone has an elevator and floor-to-ceiling casement windows that overlook a garden off the kitchen. The house was originally purchased for $10.7 million in July 2012.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 0 0 2 Avg.Ask:
$8,309,000
5
Condos 0 2 3 4 Avg.Ask:
$6,407,222

Avg.$/sq.ft.:
$2,529/sq.ft.

Avg.Size:
2,534 sq.ft.
9
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 1 0 0 Avg.Ask:
$7,322,500

Avg.$/sq.ft.:
$1,203/sq.ft..

Avg.Size:
6,087 sq.ft.
2
TOTALS 4 3 3 6 16
Total Weekly Asking Price Sales Volume: $113,855,000
Average Asking Price: $7,115,938
Median Asking Price: $6,187,500
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 383
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

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

© 2019
Donna Olshan and Olshan Realty
All Rights Reserved











Email Olshan Olshan on Twitter Olshan on Facebook Privacy Policy