LUXURY MARKET REPORT
April 6-12, 2015

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

30 Contracts Signed

Thirty properties went to contract last week in Manhattan at $4 million and above. Just barely above. The average asking price was $6,377,667, well below the $8.6 million average since the beginning of the year. For whatever reason, the action shifted from higher to lower prices. Is this the beginning of a trend? Only time will tell.

The No.1 contract was Unit 4 at 224 Mulberry Street, asking $13.5 million. This 4,160-square- foot condo has 4 bedrooms, 3.5 bathrooms, a wood burning fireplace, 14-foot ceilings, and a kitchen with Smallbone Devizes cabinets, plus 2 terraces off the bedrooms. The unit also comes with 2 parking spots, and storage. Three of the six units in this new 8-story boutique building have been sold at over $3,200/sq.ft.

The No. 2 contract was 2401 at 150 Central Park South, asking $13 million, reduced from $14.9 million when it went on the market in September. This Hampshire House Hotel co-op has 3 bedrooms and 2.5 bathrooms. The unit features spectacular Central Park views from a 29-foot living room, kitchen, dining room, and master bedroom.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 6-12, 2015

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