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Twenty-three contracts were signed last week at $4 million and above, the 6th straight week of 20+ sales. Only 1 co-op was sold, the first time that’s happened since the last week in January. Going into the summer, consider this: Will interest rates continue to decline—and what will be the impact on the luxury market?
The No.1 contract was PH39 at 50 United Nations Plaza, asking $26.25 million, sold by the sponsor who started sales in the Fall of 2013. This 5,893- square-foot condo has 5 bedrooms, 2 staff rooms, and 6.5 bathrooms. A living room, dining room, and library span 73 feet and overlook the East River. The building, designed by Foster+ Partners, has a concierge, fitness center, 75-foot swimming pool, a garage, children’s playroom, and storage.
The No. 2 contract was a townhouse at 9 East 84th Street, asking $21.975 million. The house was reported under contract in the middle of December, but the deal fell through and it was re-listed at the end of January. This 25-foot-wide limestone house has 12,500 square feet including 7 bedrooms and 9 bathrooms. It suffered extensive damage in March 2017, when a fire ripped through the neighboring townhouse at 7 East 84th Street. The house was repaired, and is being delivered as a white box with new mechanical systems and an elevator. The owner paid $15.35 million in April 2007.
East | West | Midtown | Downtown | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 1 | 0 | 0 | 0 | Avg.Ask: $5,295,000 |
1 |
Condos | 5 | 3 | 1 | 9 | Avg.Ask: $8,490,111 Avg.$/sq.ft.: $2,803/sq.ft. Avg.Size: 3,029 sq.ft. |
18 |
Condops * | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 2 | 1 | 0 | 1 | Avg.Ask: $13,342,500 Avg.$/sq.ft.: $1,737/sq.ft.. Avg.Size: 7,682 sq.ft. |
4 |
TOTALS | 8 | 4 | 1 | 10 | 23 |
CLICK HERE TO VIEW 19 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 4 CONTRACTS SIGNED ON TOWNHOUSES
Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com
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Donna Olshan and Olshan Realty
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