Ten contracts were signed last week at $4 million and above, a disappointing total when you consider that 17 contracts were signed last year in the week leading up to Christmas. Which raises the question: a blip in the market or an early-warning sign of the impact of Trump’s tax bill that caps state, local, and property tax deductions at $10,000? Time will tell.
The No.1 contract was a brownstone at 29 West 75th Street, asking $17,999,999. This 22-foot-wide, 5-story house was purchased for $3,487,500 in December 2003, and then gut- renovated. The house has approximately 9,800 square feet including 7 bedrooms, 8 bathrooms, and an elevator. It was expanded by using most of the 102-foot-deep rear lot. Outdoor space consists of a small garden on the ground floor and a 28-foot terrace on the 4th floor off a family room in the back.
The No. 2 contract was PH1 at 21 West 20th Street, asking $10.95 million, reduced from $13.25 million when it started on the market 13 months ago. This new penthouse condo has 4,841 square feet including 4 bedrooms and 4.5 bathrooms. It has 2 south-facing terraces totaling 541 square feet that are off the living room and master suite. Amenities in this 13-unit building include a doorman.
The Olshan Luxury Report will be releasing its annual Year End Report tomorrow, wrapping up the results of 2017.
Happy Holidays to All!!!!
East | West | Midtown | Downtown | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 1 | 2 | 0 | 1 | Avg.Ask: $6,048,750 |
4 |
Condos | 0 | 1 | 0 | 4 | Avg.Ask: $6,940,000 Avg.$/sq.ft.: $2,213/sq.ft. Avg.Size: 3,136 sq.ft. |
5 |
Condops * | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 0 | 1 | 0 | 0 | Avg.Ask: $17,999,999 Avg.$/sq.ft.: $2,338/sq.ft.. Avg.Size: 7,698 sq.ft. |
1 |
TOTALS | 1 | 4 | 0 | 5 | 10 |
CLICK HERE TO VIEW 9 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 |