Summer Bummer Alert! Fourteen contracts were signed last week at $4 million and above, the sixth straight week that total sales fell below 20. The volume of $101,689,990 in contracts was the lowest since the last week in January. One reason for the persistently low totals: the paucity of sales by developers. For example, only 4 new condo units went to contract last week.
The No. 1 contract was 56A at 252 East 57th Street, asking $14.65 million, reduced from $19 million when it went on the market in 2015. This 4,972-square-foot unit has 5 bedrooms, 5.5 bathrooms, a library, a 39-foot living room with a balcony, and spectacular views of Central Park and the East River. The condo has 10.5-foot ceilings, and is in a new building designed by Skidmore, Owings & Merrill. Amenities include a concierge, garage, fitness center, a children’s playroom, a 75-foot swimming pool, a library, billiards and screening rooms, a catering kitchen and dining room, bicycle and storage rooms, and furnished guest suites. There is also a play space and grooming station for your dog.
The No. 2 contract was PHB at 73 Wooster, asking $13.75 million, reduced from $14.45 million when it went on the market in March. This duplex has 5,230 square feet including 4 bedrooms, 4.5 bathrooms, a 46-foot living room with a gas fireplace and 15-foot ceilings. Upstairs is a media room with a wet bar that opens onto a 2,292-square-foot terrace. The penthouse is in a 6-unit, 4-story condo with a doorman. The seller purchased PHB from the developer for $6,489,816 in 2004.
East | West | Midtown | Downtown | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 1 | 1 | 0 | 1 | Avg.Ask: $5,300,000 |
3 |
Condos | 1 | 0 | 3 | 5 | Avg.Ask: $8,110,554 Avg.$/sq.ft.: $2,689/sq.ft. Avg.Size: 3,016 sq.ft. |
9 |
Condops * | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 0 | 0 | 0 | 2 | Avg.Ask: $6,397,500 Avg.$/sq.ft.: $1,170/sq.ft.. Avg.Size: 5,469 sq.ft. |
2 |
TOTALS | 2 | 1 | 3 | 8 | 14 |
CLICK HERE TO VIEW 12 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |