More than 800 $4M-plus contracts logged this year

TRD New York /
Dec.December 31, 2012 01:00 PM

This year proved to be the strongest year for the New York City luxury residential market — with 807 contracts signed for homes priced at $4 million and above, representing some $6.6 billion in sales, according to the latest market report from residential brokerage Olshan Realty. The total number of contracts signed signifies a 20 percent jump over 2011, and a 7 percent increase over 2007, the previous top year.

The report cites Streeteasy data showing that 721 recorded sales — representing 427 condos, 228 co-ops and 66 townhouses — closed at $4 million and above, and 129 sales closed at $10 million. Four sales — including the record-smashing $88 million sale of Sandy Weill’s 15 Central Park West penthouse to the daughter of a Russian billionaire — closed for upwards of $50 million.

The average price of all properties in contract was $8.03 million, the median price was $6.25 million, and the average number of days these luxury listings were on market before they went into contract was 248. – Hiten Samtani


Related Articles

arrow_forward_ios
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

From left: Colgate chairman Ian Cook and 1115 Fifth Avenue and 912 Fifth Avenue (Credit: Cuny, StreetEasy)

He sold enough toothpaste to buy this tony Carnegie Hill pad

Larry Silverstein (Credit: Getty Images, iStock)

Silverstein’s lending biz could get a boost from the weak luxury condo market

Vornado’s Steve Roth and 220 Central Park South (Credit: Getty Images)

Another villa unit at 220 Central Park South sells for $47M

220 Central Park South and Vornado chairman Steven Roth (Credit: Google Maps and Getty Images)

Another $60M condo closes at 220 Central Park South

255 West 11th Street with Liv Tyler and 49 East 67th Street  with Thomas and Ann Unterberg (Credit: Getty Images and Google Maps)

Here’s what sold in NYC’s luxury home market last week

110 Central Park South and Aleksandra Melnichenko (Credit: Google Maps and Getty Images)

Who’s buying what? Here are our top luxe resi sales

Lee Radziwill and her home at 160 East 72nd Street (Credit: Getty Images, Brown Harris Stevens)

Longtime home of Lee Radziwill, sister to Jackie O., sells for $4M

arrow_forward_ios