index sales rentals agents press salesfaq company services marketreport Search Listings
Fair Housing Notice


OLSHAN LUXURY MARKET REPORT

Fill in your address below to receive this regular report via email



Subscribe | Unsubscribe


December 24-30, 2012

2012 YEAR END REPORT

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

4 Contracts Signed 12/24/2012-12/30/2012

Four contracts were signed last week, bringing the total for 2012 to 807 contracts at $4 million and above, representing $6.6 billion in sales. It was the strongest year in the luxury market, with 7% more contracts signed than the 2007 peak and a 20% increase over 2011.

Streeteasy.com is reporting that to date 721 recorded sales have closed at $4 million and above. That number represents 427 condos, 228 co-ops, and 66 townhouses. Also, according to Streeteasy.com, there were 129 sales that closed at $10 million and above, while 4 closed north of $50 million. This included the all-time record holder: The penthouse at 15 Central Park West, an $88 million condo that went to contract in 2011 but closed in February. The No.2 spot was the 30th and 31st floor condo at 50 Central Park South, which closed for $70 million in June.

As for the last week of 2012, the No.1 contract was Apartment 8W at 135 East 79 th Street, asking $10,195,000. This 4-bedroom, 3.5-bath is a new condo that started on the market in September, and by November, the developer raised the asking price by $645,000. The unit has 3,287 square feet with a study, a 31-foot living room, and a large eat-in kitchen by Christopher Peacock loaded with high end appliances.



Contracts Signed as Reported by Olshan Realty
January 1- December 30, 2012 on Asking Prices $4 million and Above

# of Sales

Avg. Price

Avg. Price/Sq.ft

Avg. Size

Condo Sales

458

$7,446,294

$2,476/sq.ft.

3,010 sq.ft.

Co-op Sales

223

$7,741,322

 

 

Condop Sales

10

$10,182,222

$2,702/sq.ft.

3,497 sq,ft

Townhouse Sales

116

$ 8,527,581

$1,599/sq.ft.

5,348 sq.ft.

Total

807

 

 

 

Total Volume of 2012 Contracts Signed at $4 million and above: $6,629,532,414
Average Price of All Properties: $8,034,877
Median: $6,254,490
Average discount before property went into contract: 6%
Average Days on Market Before Contract Was Signed: 248



Recorded Closed Sales as Reported by Streeteasy.com
January 1-December 30, 2012: $4 million and Above

# of Sales

Avg. Price

Avg. Price/Sq.ft

Avg. Size

Condo Sales

427

$7,292,033

$2,685/sq.ft.

2,944 sq.ft.

Co-op Sales

228

$8,547,808

 

 

Townhouse Sales

66

$10,109,359

$2,190/sq.ft.

4,984 sq.ft.



Recorded Closed Sales as Reported by Streeteasy.com
January 1-December 30, 2012: $10 million and Above

# of Sales

Avg. Price

Avg. Price/Sq.ft

Avg. Size

Condo Sales

56

$17,207,999

$4,856/sq.ft.

3,856 sq.ft.

Co-op Sales

46

$20,066,340

 

 

Townhouse Sales

27

$15,087,933

$2,573/sq.ft.

6,178 sq.ft.



NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
December 24-30, 2012

East

West

Midtown

Downtown

Asking $/sq.ft.

Totals

Co-ops

0

0

0

0


0

Condos

1

0

1

1

Avg. Price: $2,295 sq.ft.
Avg. Size : 2,966 sq.ft.

3

Condops *

0

0

0

0


0

Townhouses

1

0

0

0

Avg. Price: $1,750/sq.ft.
Avg. Size: 3,200 sq.ft.

1

Totals

2

0

1

1

4

Total Weekly Asking Price Sales Volume: $26,020,000
Average Asking Price: $6,505,000
Median Asking Price: $5,775,000
Average Discount from Original Ask to Last Asking Price: 0%
Average Days on Market:159
*Condop is a co-op with condo rules.

4 Closed Sales in 2012 North of $50 million:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/1302289066e836.htm

TO VIEW 3 CONTRACTS SIGNED ON APARTMENTS:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/1302284496bab4.htm

TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES:
Please click here to view the listings. If that doesn't work, please copy and paste the following address into your browser. Alternatively, you can Press Control and Click on the link below:
http://media.realplusonline.com/webreports/130228b08cf3c2.htm

Luxury Property Specialists:

Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

CLICK HERE TO VIEW PAST MARKET REPORTS.

Email Olshan Olshan on Twitter Olshan on Facebook Privacy Policy

© 2024 Olshan Realty | All Rights Reserved.
This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.