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

23 Contracts Signed

You can’t argue with last week’s action in the Manhattan Luxury real estate--23 contracts were signed at $4 million and above, surpassing last year’s pre-Thanksgiving week when 19 properties went to contract.

The No.1 contract was apartment 16B at 21 East 61st Street, asking $25 million for a 10-room unit with 3 bedrooms, a library, and 4.5 bathrooms. It has 3,582 square feet, featuring an impressive 1,101-square foot terrace that wraps around most of the unit. The apartment has beautifully portioned rooms and includes a 33-foot living room and a 22-foot formal dining room. 16B is in the former Carlton House that is being converted from a rental to a condop by Extell Development. (A condop is a co-op with condo rules.)

The No. 2 contract was 56 Walker Street, asking $20 million, reduced from $22.5 million when it went on the market in February 2012. This is a 25-foot wide, 6-story, 1860s cast-iron building with 18,500 square feet that has been divided into 5 full-floor loft units. The ground floor is zoned for commercial space. It was purchased in 2003 for $3 million.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
November 18-24, 2013

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	4	1	0	2	Avg.Asking:$7,677,143	7
Condos	1	1	2	6	Avg.Asking:$5,929,500 Avg.$/sq.ft.:$2,683/sq.ft. Avg.Size:2,260sq.ft.	10
Condops *	1	0	0	0	Avg.Asking:$25,000,000 Avg.$/sq.ft.:$6,979/sq.ft. Avg.Size:3,582sq.ft.	1
Townhouses	1	2	0	2	Avg.Asking:$10,549,000 Avg.$/sq.ft.:$1,406/sq.ft. Avg. Size: 7,504sq.ft.	5
Totals	7	4	2	10		23

Total Weekly Asking Price Sales Volume: $190,780,000
Average Asking Price: $8,294,783
Median Asking Price: $5,900,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:161
*Condop is a co-op with condo rules.

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TO VIEW 5 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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