Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

14 Contracts Signed

News Flash: For the first time this year, an entire week passed without a single co-op going to contract at $4 million and above. In all, 10 condos and 4 townhouses comprised last week’s luxury market activity.

The No.1 contract was the 8th floor at 40 Bond Street, asking $25 million, reduced from $27 million when it went on the market in April. It was purchased 6 years ago for $17,972,112. The unit has 5,364 square feet including 4 bedrooms, 4 bathrooms, 11-foot ceilings, and a landscaped terrace spanning approximately 130-feet across the front of the building. 40 Bond is an 11-story, 26-unit condo designed by Pritzker Prize winning architects Herzog & de Meuron. It is known for its outstanding contemporary design including a green-glass-molded façade and a graffiti-inspired, sculptured-metal entrance. Herzog & de Meuron designed the Beijing Olympic Stadium that was dubbed the “Bird’s Nest” and the Tate Modern Museum in London. They are also the architects for the new, almost-sold-out condo at 56 Leonard Street.

The No. 2 contract was 26B at 15 Central Park West, asking $16,888,000. This 2-bedroom, 2.5-bath unit has 2,367 square feet with a 27-foot living room and a 20-foot formal dining room facing Central Park. It was purchased in 2008 for $11,850,000. 15 Central Park West is the most expensive condominium in New York. It is a limestone structure designed by Robert A.M. Stern with a host of amenities including a 14,000–square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 9-15, 2013

	East	West	Midtown	Downtown	Asking $/sq.ft.	Totals
Co-ops	0	0	0	0		0
Condos	2	4	1	3	Avg.Asking:$10,308,300 Avg.$/sq.ft.:$2,440/sq.ft. Avg.Size:4,225sq.ft.	10
Condops *	0	0	0	0		0
Townhouses	1	0	0	3	Avg.Asking:$8,111,250 Avg.$/sq.ft.:$1,399/sq.ft. Avg.Size:5,800sq.ft.	4
Totals	3	4	1	6		14

Total Weekly Asking Price Sales Volume: $135,528,000
Average Asking Price: $9,680,571
Median Asking Price: $7,425,000
Average Discount from Original Ask to Last Asking Price:4%
Average Days on Market:214
*Condop is a co-op with condo rules.

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TO VIEW 4 CONTRACTS SIGNED ON TOWNHOUSES:
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Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

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