LUXURY MARKET REPORT 2018
Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
December 10-16, 2018
16 Contracts Signed
Sixteen contracts were signed last week at $4 million and above, the weakest performance for mid-December since 2011, when 13 contracts were signed. Condos outsold co-ops, 11 to 3, and 2 townhouses were in the mix. Five properties went to contract asking above $10 million.
Stat Geek Alert: For the 3rd time this year, properties averaged more than 700 days on the market. The other 2 weeks: one in January and one in October.
The No.1 contract was a townhouse at 9 East 84th Street, asking $20.25 million. 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.
The No. 2 contract was PH52B at 56 Leonard, asking $17.75 million, raised from $15 million when it was first offered off of floorplans in 2013. The unit has 3,709 square feet including 4 bedrooms and 4.5 bathrooms, plus a balcony off the master suite. It features 14-foot-high ceilings, and has breathtaking city and Hudson River views. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.
Total Weekly Asking Price Sales Volume: $132,615,000
Average Asking Price: $8,288,438
Median Asking Price: $5,627,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 728
*Condop is a co-op with condo rules.
CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES