LUXURY MARKET REPORT
June 22-28, 2015

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

30 Contracts Signed

With the July 4th weekend approaching, here’s a firecracker of a stat: In the first 6 months of this year, 751 properties had contracts signed at $4 million and above, 49 more than over the same period in 2014. The volume was $6,100,911,973, up from last year’s $5,754,343,800. Condos out sold co-ops 484 to 184; and 79 houses were in the mix, an 8% increase in the number of houses sold over the same period last year. Oh, by the way, 4 condops were also sold.

Of the 30 contracts signed last week at $4 million and above, the No. 1 slot goes to 42 West 71st Street, asking $19.950 million, reduced from $23.5 million when it went on the market in October 2013. This 5-story, 20-foot-wide brownstone was extensively renovated after being purchased for $6.345 million in March 2011. The house has 8,560 square feet including 5 bedrooms, 7 bathrooms, 2 powder rooms, an elevator, a roof-top terrace, and a south-facing garden.

The No. 2 contract was 340 West 12th Street, asking $14 million, reduced from $27 million when it started on the market in April 2014. This 4-story, 24-foot-wide house has a separate carriage house in its rear garden. The property was purchased for $11 million in September 2012, and is being sold gutted with a set of plans that have been approved by the NYC Department of Buildings.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
June 22-28, 2015

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