LUXURY MARKET REPORT
April 14-20, 2014

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

23 Contracts Signed

The luxury real estate market in Manhattan had a strong showing last week, despite the traditionally weak Passover-Easter period: 23 contracts were signed at $4 million and above. With inventory at an all-time low, new construction has taken up the slack: Year-to-date, 33% of the sales at $4 million and above have been in new condo buildings sold off of floorplans. Many of these units will not be completed for another 2 years.

The No.1 contract was Apartment 5/6D at 19 East 72nd Street, asking $12.975 million, reduced from $14.5 million when it started on the market in October. The co-op duplex was purchased in 2006 for $10 million and renovated by the renowned architecture firm of Beyer Blinder and Belle. It has 4 bedrooms, 4.5 bathrooms, a library, eat-in kitchen, and 2 fireplaces.

The No. 2 contract was apartment PHW at 11 North Moore Street, asking $11 million, reduced from $12.75 million when it started on the market in October. This new 3-bedroom, 3.5-bathroom duplex condo has 3,541 square feet and 11-foot ceilings. Downstairs is a spectacular 48-foot great room that opens onto a 269-square-foot-terrace. The upstairs has a bedroom wing that includes a giant master suite.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 14-20, 2014

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