LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
November 5-11, 2018

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above, the third week in a row in which more than 20 sales were recorded. Condos outsold co-ops, 13 to 7. One townhouse, in Greenwich Village, also sold. The average days on market was 417, and properties were reduced on average by 9% off the original asking price before they went to contract.

Stat Geek Alert: The 7 co-ops that went to contract marked the highest total of co-op sales since the last week in May (when 10 sold), and all units either had a view of Central Park or a terrace.

The No.1 contract was 72C at 80 Columbus Circle, asking $17.95 million, reduced from $24.5 million when it went on the market in May 2016 (the owner paid $9,291,531 in May 2005). This Time Warner Center condo has 3,170 square feet including 4 Bedrooms and 4.5 bathrooms. The unit has Central Park views from the living room and the master bedroom, while the other bedrooms have Hudson River views. Condo amenities include a fitness center, landscaped terrace, meeting room with Central Park views, and access to the Mandarin Oriental Hotel’s pool and spa.

The No. 2 contract was 12AB at 269 West 87th Street, asking $11.350 million. The unit has 4,626 square feet including 6 bedrooms, 4.5 baths, and 3 terraces that total 1,710 square feet. It is in a new 18-story, 39-unit co-op building called The Chamberlain. Amenities include a doorman/concierge, fitness center, a multi-purpose sports court, and a garden courtyard.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 4 3 0 0 Avg.Ask:
$6,742,857
7
Condos 0 3 3 7 Avg.Ask:
$7,542,385

Avg.$/sq.ft.:
$2,723/sq.ft.

Avg.Size:
2,770 sq.ft.
13
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$7,715,000

Avg.$/sq.ft.:
$2,796/sq.ft..

Avg.Size:
2,760 sq.ft.
1
TOTALS 4 6 3 8 21
Total Weekly Asking Price Sales Volume: $153,001,000
Average Asking Price: $7,285,762
Median Asking Price: $6,500,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 417
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 20 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