Fifteen contracts were signed last week at $4 million and above, which is the lowest total as we swing into February since 2010, when 15 contracts were also signed. Things could always be worse: In the same week in 2009, with the country in the grip of the Great Recession, only 1 contract was signed.
The No.1 contract was a townhouse at 3 East 89th Street, asking $27 million, reduced from $29.5 million when it went on the market in March 2017. This 40-foot-wide, 6-story limestone building has 13,956 square feet, and is being sold by the National Academy Museum. The house has 7 bedrooms and 7 bathrooms with many original details, like a sweeping marble staircase with wrought-iron railings and French doors. It is in need of a complete renovation that could span years and cost millions.
The No. 2 contract was a townhouse at 49 East 68th Street, asking $23 million, Listed last April, this red brick and limestone 6-story house is 25-feet wide and has 10,250 square feet. It was purchased for $20.4 million in November 2017. The interior was then gutted, and is now being delivered as a raw box with a set of approved plans by the NYC Department of Buildings. At one time, it was the home of Mitch Leigh, the Tony Award-winning composer of Man of La Mancha.
EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 2 | 1 | 0 | 0 | Avg.Ask: $5,741,667 |
3 |
Condos | 0 | 0 | 2 | 8 | Avg.Ask: $6,464,500 Avg.$/sq.ft.: $2,308/sq.ft. Avg.Size: 2,801 sq.ft. |
10 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: |
0 |
Townhouses | Avg.Ask: $25,000,000 Avg.$/sq.ft.: $2,065/sq.ft. Avg.Size: 12,103 sq.ft. |
2 | ||||
TOTALS | 4 | 1 | 2 | 8 | 15 |
CLICK HERE TO VIEW 13 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |