LUXURY MARKET REPORT 2019


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
January 14-20, 2019

12 Contracts Signed

Twelve contracts were signed last week at $4 million and above, a depressing total even for this time of year. How depressing? It’s the lowest total for the 3rd week in January since 2012, when 7 contracts were signed.

The No. 1 contract was PH54 at 56 Leonard Street, asking $22 million, reduced from $30 million when it went on the market in June 2017. The unit is selling below what the owner paid ($23, 982,851) in January 2017. It has 5,492 square feet including 4 bedrooms, 4.5 bathrooms, and outdoor space with 2 terraces and 2 balconies that total 1,567 square feet. The apartment has 14-foot-high ceilings and breathtaking city and Hudson River views. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.

The No.2 contract was a townhouse at 109 West 11th Street, asking $11.65 million. This 4-story Greek Revival-style red brick house has 4,100 square feet including 5 bedrooms, 2 bathrooms, and 2 powder rooms, plus a landscaped garden. It was purchased for $3 million in 2002 and then gut renovated. It was listed last April.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 0 0 1 Avg.Ask:
$5,625,000
2
Condos 2 1 0 6 Avg.Ask:
$8,262,667

Avg.$/sq.ft.:
$2,558/sq.ft.

Avg.Size:
3,230 sq.ft.
9
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$11,650,000

Avg.$/sq.ft.:
$2,841/sq.ft.

Avg.Size:
4,100 sq.ft.
1
TOTALS 3 1 0 8 12
Total Weekly Asking Price Sales Volume: $97,264,000
Average Asking Price: $8,105,333
Median Asking Price: $6,497,500
Average Discount from Original Ask to Last Asking Price: 14%
Average Days on Market: 747
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 11 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES

Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com