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

22 Contracts Signed

According to Streeteasy.com, there are 23 properties for sale in Manhattan at $50 million or more. And last week, one went to contract---and it is also the No.1 contract of the year: Penthouse 1 at 212 West 18th Street, asking $55 million, in the Walker Tower Condominium.

The unit has 5,955 square feet including 5 bedrooms, 5.5 bathrooms, and 3 fireplaces. A dramatic space, it has views on all sides, coffered ceilings, and windows that are nearly 13 feet tall. There is a terrace spanning over 45 feet off the living room and dining room. Walker Tower is the original Art Deco headquarters of New York Telephone that was transformed into a condo with some of the highest quality finishes ever seen in new construction in Manhattan. The herringbone floors have radiant heat throughout, while kitchens are outfitted with Smallbone Devizes cabinets, marble and limestone countertops, and an ultra-luxury appliance package. All bathrooms have custom-marble details and Waterworks fittings. One unique feature of the building is a built-in humidification system, the same system that is used in museums. Amenities also include doormen, concierge, a library lounge, children’s playroom, and bike storage, plus a fitness center with a yoga room and sauna. An extra plus: a landscaped common roof deck with a dining area, sun lawn, observation area, and a covered cabana.

The No. 2 contract was PHA in 71 Laight Street, asking $21 million. This is a 4,600-square-foot unit with 4 bedrooms, 4.5 bathrooms, and a 3,459 square foot terrace that surrounds most of the apartment. It is in the Sterling Mason, a 1905 masonry warehouse that was recently converted into a 7-story condo with 33 units and amenities that include a doorman, fitness center, children’s playroom, and garage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 28-November 3, 2013

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	7	1	0	0	Avg.Asking:$7,842,143	8
Condos	0	3	1	8	Avg.Asking:$13,255,417 Avg.$/sq.ft.:$4,122/sq.ft. Avg.Size:3,508sq.ft.	12
Condops *	0	0	0	0		0
Townhouses	0	0	0	2	Avg.Asking:$6,622,500 Avg.$/sq.ft.:$1,753/sq.ft. Avg.Size:3,765sq.ft.	2
Totals	7	4	1	10		22

Total Weekly Asking Price Sales Volume: $235,605,000
Average Asking Price: $10,709,318
Median Asking Price: $7,497,500
Average Discount from Original Ask to Last Asking Price:2%
Average Days on Market:139
*Condop is a co-op with condo rules.

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TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES:
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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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