Thirty-eight contracts were signed last week at $4 million and above, extending the luxury market’s streak of 30 or more deals to 6 weeks in a row.
Stat Geek Alert I: The top 3 deals inflated last week’s volume of $419,558,500. That total made for the largest weekly dollar volume since March 11-17, 2013, when the volume hit $541,399,000 on 63 properties.
Stat Geek Alert II: Typically, condos at $4 million and above in Manhattan outsell co-ops by a ratio of 3 to 1. So far this year, the gap has widened to over 4 to 1.
The No. 1 contract was first reported in The Wall Street Journal--a townhouse at 12 East 69th Street, asking $79 million, reduced from $88 million. The Wall Street Journal reported that the deal was actually inked around $60 million, surpassing the $51 million on the 28,000-square-foot mansion that closed last week on 9 East 71st Street, the 50-foot-wide former home of the late financier--and accused sex-trafficker--Jeffrey Epstein.
The house at 12 East 69th Street is owned by billionaire Vince Viola, who purchased the house in 2005 for $20 million and then renovated it. It has been on and off the market for years, cycling through 2 brokerage firms, and in 2013, it had an asking price as high as $114 million. The 40-foot-wide, 6-story house has 20,000 square feet and features an indoor saline swimming pool, gym, and a duplex cinema.
The No. 2 contract was PH18/19A at 15 Central Park West, asking $57.9 million, reduced from $65 million when it was listed in September 2019. The seller paid $30,547,500 in April 2008. The duplex condo has 5,902 square feet including 4 bedrooms, 6.5 bathrooms, a library, and an internal elevator. The unit has spectacular views of Central Park. A 1,000-square-foot terrace on the 18th floor surrounds a corner living room with a gas fireplace, a library, entrance gallery, and formal dining room. Upstairs on the 19th floor are the bedrooms, including a master suite that opens onto a balcony and sitting room—all overlooking Central Park.
15 Central Park West was designed by Robert A.M. Stern and completed in 2007. Amenities include a 14,000-square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.
. | EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals |
---|---|---|---|---|---|---|
Co-ops | 3 | 3 | 1 | 1 | Avg.Ask: $5,453,750 |
8 |
Condos | 9 | 3 | 2 | 10 | Avg.Ask: $10,318,063 Avg.$/sq.ft.: $3,657/sq.ft. Avg.Size: .2,822 sq.ft. |
24 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 1 | 3 | 0 | 2 | Avg.Ask: $21,382,500 Avg.$/sq.ft.: $2,467/sq.ft. Avg.Size: 8,669 sq.ft. |
6 |
TOTALS | 13 | 9 | 3 | 13 | . | 38 |
CLICK HERE TO VIEW 32 CONTRACTS SIGNED ON APARTMENTS CLICK HERE TO VIEW PAGE 2 OF 32 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 6 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
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QUICK STATS
for the week of
March 8-14, 2021
Total Weekly Asking Price Sales Volume: $419,558,500
Average Asking Price: $11,041,013
Median Asking Price: $5,995,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 603