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

20 Contracts Signed

I hate to be the bearer of a double-shot of bad news, but here goes: Not only did the stock market continue its record-breaking January slide, but the Manhattan luxury real estate market has also turned in some lousy stats of its own. Take a look: In a similar start-of-the-year period, 2014 saw 59 contracts signed at $4 million and above, 2015 had 46, and 2016 has slipped to 41.

Of the 20 contracts signed last week, the No.1 spot was occupied by PH2 at 295 Lafayette, asking $35.1 million, in a 6-unit Soho boutique condo in the historic cast-iron Puck building. The penthouse has 5,222 square feet including 3 bedrooms and 5.5 bathrooms, plus a large landscaped 799-square-foot terrace. It also features barrel-vaulted ceilings, a 32-foot-square living room with a fireplace, and a grand master suite with 2 bathrooms and 2 dressing rooms.

The No. 2 contract was 29/30G at 300 Central Park West, asking $24.95 million, reduced from $29 million when it went on the market in February 2015. This 5-bedroom, 6.5- bathroom duplex has spectacular 360-degree panoramic views that include Central Park and the Hudson River. It occupies the top two floors of the North Tower of the famed El Dorado co-op at 90th Street and Central Park West. The top floor of the unit serves as a grand entertaining space with a living room, dining room, den, and kitchen, plus 3 small terraces and a solarium; it was once used as a communal club by the early residents of the building and has an oversized fireplace and terra-cotta floor tiles from that period.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
January 11-17, 2016

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	4	2	1	0	Avg.Ask:$9,605,714	7
Condos	0	4	1	5	Avg.Ask:$10,978,400 Avg.$/sq.ft.:$3,567/sq.ft. Avg.Size:3,078sq.ft.	10
Condops *	0	0	0	0		0
Townhouses	1	2	0	0	Avg.Ask:$7,230,000 Avg.$/sq.ft.:$1,384/sq.ft. Avg.Size:5,224sq.ft.	3
Totals	5	8	2	5		20

Total Weekly Asking Price Sales Volume: $198,714,000
Average Asking Price: $9.935,700
Median Asking Price: $7,797,500
Average Discount from Original Ask to Last Asking Price:7%
Average Days on Market:334
*Condop is a co-op with condo rules.

TO VIEW 17 CONTRACTS SIGNED ON APARTMENTS:
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TO VIEW 3 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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