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

14 Contracts Signed

Remember last week’s Olshan Luxury Report, which reported that only 5 contracts were signed between September 10-16. Well, the luxury market bounced back nicely last week, stepping into fall with 14 contracts signed at $4 million and above. What has become the new real estate normal, condos outsold co-ops 11-2. There was 1 townhouse sale with historical significance.

That one townhouse sale was at 18 West 11th Street; it has an odd modernist architecture that hints of a violent past. This original Greek Revival House was destroyed in 1970 when members of The Weathermen, a radical leftist group, accidentally blew up the building while assembling a bomb in the basement. The 21-foot wide house, asking $10,995,000, was rebuilt in 1978 by architect Hugh Hardy. It has 3 bedrooms, 3 baths, 2 half baths, and an elevator, and was designed around a central staircase.

The No.1 contract was the 11th floor at 810 Fifth Avenue, asking $21.5 million. This 11-room co-op went on the market in April. The defining feature is a 46-foot living room facing Central Park. The unit has 4 bedrooms and 2.5 baths, and has been renovated in a contemporary style.

The No.2 contract was Penthouse B at 100 Eleventh Avenue, asking $14.95 million, reduced from $17.5 million. The condominium has 4,818 square feet, and is configured as 4 bedrooms and a den. It has 2 terraces, offering spectacular 360-degree views of the Hudson River and city. This distinctive building was designed with 1,700 panes of irregular shaped glass by the Pritzker Prize winning architect Jean Nouvel. The condo’s amenities include concierge, pool, gym, and garden.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
September 17-23, 2012