34 East 74th Street | $24,000,000 | WEB: 00110712
New York City Market Update First Quarter 2016 MANHATTAN BROKERAGES East Side | 38 East 61st Street | t: 212.606.7660 Downtown | 149 Fifth Avenue, 4th Floor | t: 212.431.2440 West Side | 2244 Broadway | t: 212.579.9300
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MANHATTAN MARKET | OVERVIEW CONDOS & CO-OPS OVERVIEW The 1st Quarter of 2016 was much like the 4th Quarter of 2015 - market price measures were pushed to record high levels because of a heavy influence by closings at new construction condos. While the average and median prices have reached record high levels, there is a sense on the ground, that the market momentum upward may be stalling in some market segments. However, with overall inventory remaining at historic lows, the general market is poised to exhibit stability in the near term. With 2,775 closed sales in the 1st Quarter of 2016 (4% fewer than prior year), the overall average sale price was $2,112,000, a 16% increase over prior year. The overall median sale price also had a significant year-over-year increase of 21% to $1,175,000. In the analysis presented by three distinct price tiers – less than $3mil; $3mil to $10mil; and over $10 mil – the rising market price trend is evident in the lowest price bracket. For all properties sold under $3mil, the average sale price was up 10% and the median sale price was higher by 13% with 9% fewer closed sales in this price segment. Prices under $3mil accounted for approximately 81% of total market sales sampled this quarter. In the next price tier $3mil to $10mil – the average and median sale price figures were essentially unchanged at $4,900,000 and $4,300,000, respectively. There were 22% more sales this quarter than last among units sold in this price tier, which accounted for approximately 16% of total sales. The top price tier segment of units sold over $10mil is where market price weakness remains evident given that this sector of the market has the highest months supply of inventory (see absorption section). With fewer record setting sale prices in the top 1% of the market, the average sale price for unit sold over $10mil fell 24% while the median sale price was lower by 9%. UNDER $3M
MANHATTAN OVERVIEW
Q1 : 16
Number of Closed Sales
2,255
$3M TO $10M
Q1 : 15 % Change 2,466
Q1 : 16
-9%
453
OVER $10M
Q1 : 15 % Change 372
22%
Q1 : 16
Q1 : 15
67
47
TOTAL % Change Q1 : 16 43%
Q1 : 15
% Change
2,775
2,885
-4%
Average Days on Market
82
83
-1%
Listing Discount
5%
6%
-17%
Average Sales Price
$1,155,000
$1,051,000
10%
$4,919,000
$4,900,000
0%
$15,788,000
$20,660,000
-24%
$2,112,000 $1,816,000
16%
Median Sales Price
$945,000
$835,000
13%
$4,300,000 $4,350,000
-1%
$14,500,000
$15,900,000
-9%
$1,175,000
$970,000
21%
5464
5141
6%
4.9
5.0
-1%
Listing Inventory
Further detail on page 3
Months of Supply
The average sale price of all recorded Manhattan sales in the 1st Quarter of 2016 was $2,112,000 which is 5% higher than prior quarter and 16% greater than one year ago. The median sale price gained 21% from prior year and 2% from prior quarter. Both the average sale price and the median sale price are record high measures for Manhattan overall prices.
$2,500,000
AVERAGE and MEDIAN SALES PRICE
$2,000,000 $1,500,000 $1,000,000 $500,000
NUMBER OF CLOSED SALES and INVENTORY 6000
$0
Q2:14 Q3:14 Q4:14 Q1:15 Q2:15 Q3:15 Q4:15 Q1:16 Average Sales Price
5000 4000 3000 2000 1000 0
Q2:14
Q3:14
Q4:14
Q1:15
Q2:15
# of Closed Sales
Q3:15
Q4:15
Q1:16
Median Sales Price
Fewer units for sale at the lower end of price spectrum, coupled with falling demand at the higher price tiers, led to a decline in the number of closed sales. The 2,775 closed sales this quarter was just 4% lower than prior year but 18% lower than last quarter. Total inventory remains far below normalized supply levels of 8,0009,000+/- listings. The inventory measure has been well under 6,000 units for nearly 3 years.
Inventory
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MANHATTAN MARKET | ABSORPTION RATE CONDOS & CO-OPS
(based on 6 months of closed sales 09.01.2015 - 02.29.2016)
The overall Manhattan absorption rate stands at 4.9 months. However, properties valued $6mil continue to have much higher absorption rates. Inventory shortage persists in the lower price tiers with units under $1mil at 3.2 months supply and units under $2mil at 4.9 months supply. The top 3 price tiers have absorption rates signifying that buyers retain an advantage, particularly at the $20mil+ price segment where there is nearly a 2.5 year supply of inventory at the current pace of sales. Top market price tiers are where buyers have the most choice and the recent trend of price reductions and concessions at new developments is likely to continue. The historic range of equilibrium for the market area is 9+/- months. The absorption rate is calculated by taking the total number of currently active listings and dividing by the average number of closed sales over the 6 month period. Less than $1M $1M - $2M Active Listing Inventory
$2M - $4M
$4M - $6M
$6M - $10M $10M - $20M
$20M+
TOTAL
1,645
1,373
1,175
544
374
228
126
5,465
Average Closed Sales / Month
512
283
189
61
41
16
4
1,106
Months of Supply per Price Category
3.2
4.9
6.2
8.9
9.1
14.3
31.5
4.9
NUMBER OF ACTIVE LISTINGS
ABSORPTION RATE
2%
35
4%
30
7% 30%
< $1mil $1mil - $2mil > $2mil - $4mil > $4mil - $6mil >$6mil - $10mil > $10mil < $20mil $20mil+
10%
22%
25 20 15 10 5 0 Less than $1M
25%
$1M - 2M $2M - $4M $4M - $6M Absorption
$6M $10M
$10M $20M
$20M+
Overall Absorption Rate
AVERAGE DAYS ON MARKET & LISTING DISCOUNT Q2 : 14
Q3 : 14
Q4 : 14
Q1 : 15
Q2 : 15
Q3 : 15
Q4 : 15
Q1 : 16
Average Days on Market
83
74
85
83
84
73
77
82
Listing Discount
3%
6%
7%
6%
4%
4%
6%
5%
86
8%
84
7%
82
6%
80 78
5%
76
4%
74
3%
72
2%
70
1%
68 66
0% Q2:14
Q3:14
Q4:14
Q1:15
Average Days on Market
Q2:15
Q3:15 Listing Discount
Q4:15
Q1:16
AVERAGE DAYS ON MARKET The total number of days a listing is on the active market before an offer is accepted. It is calculated by totaling the total days on market for every closed sale, and dividing the total days by the total number of closed sales. LISTING DISCOUNT The percent change between the original asking (listing) price of a home, and the final sales price of the home. It is calculated by subtracting the sales price from the original listing price, and dividing the result by the original listing price.
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THE ULTRA LUXURY MARKET CO-OPS, CONDOS & TOWNHOUSES OVER $10M Over the 1st Quarter of 2016 there were 79 ultra-luxury sales, 25% more than prior quarter and nearly equal with prior year. The average sale price in this market sector was 6% less than prior quarter and 16% less than the prior year average of $22.138 mil. The highest posted sale price this quarter was $35.336 mil for a 9th floor unit at 101 Central Park West in the Upper West Side market area. Q2 : 14
Q3 : 14
Q4 : 14
Q1 : 15
Q2 : 15
Q3 : 15
Q4 : 15
Q1 : 16
74
75
69
75
49
75
63
79
Average Sales Price
$16,931,000
$17,912,000
$23,927,000
$22,138,000
$19,367,000
$18,733,000
$19,600,000
$18,500,000
Highest Sales Price
$70,000,000
$71,300,000
$100,500,000
$91,500,000
$47,800,000
$37,940,000
$45,000,000
$35,336,000
Number of Closed Sales
NUMBER OF CLOSED SALES and AVERAGE SALES PRICE $30,000,000
90 80
$25,000,000
70
$20,000,000
60 50
$15,000,000
40
$10,000,000
30 20
$5,000,000
10
$0
0
Q2:14
Q3:14
Q4:14
Q1:15
Q2:15
# of Closed Sales
Q3:15
Q4:15
Q1:16
Average Sales Price
SOTHEBYâ&#x20AC;&#x2122;S INTERNATIONAL REALTY - MANHATTAN SIGNIFICANT SALES
101 Central Park West, Apt 9BC
293 Lafayette Street, PH II
481 Greenwich Street, PHB
Last Asking: $38,000,000
Last Asking: $35,100,000
Last Asking: $9,975,000
Randall Gianopulos | 212.606.7622
Nikki Field | 212.606.7669
Jeremy Stein | 212.431.2427
Serena Boardman | 212.606.7611
Mara Flash Blum | 212.431.2447
Robin Stein | 212.431.2446
*Due to client confidentiality the final sales price cannot be disclosed.
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MANHATTAN MARKET | CO-OPS & CONDOS CO-OPS The initial quarter of 2016 saw co-op average sale price fall 7% to $1,321,000 while the co-op median price gained 9% to reach $800,000. The under $3mil price bracket had far fewer closings but charted gains of 6% in average sale price and 10% in median sale price. For co-op units in the price tier ranging from $3mil to $10mil, the average sale price measure posted a 4% drop while the median sale price was lower by 9% from prior year. Within the top tier coop price bracket, $10mil and higher, there were just 7 closed sales as opposed to 15 in prior year. This sector posted an average sale price of $15,609,000, far less than prior year period of $24,562,000. The median price of $14,000,000 was just 3% lower than prior year. UNDER $3M
CO-OPS
Q1 : 16
$3M TO $10M
Q1 : 15 % Change
OVER $10M
TOTAL
Q1 : 16
Q1 : 15
% Change
Q1 : 16
Q1 : 15
% Change
Q1 : 16
Q1 : 15
% Change
1,385
1665
-17%
Number of Closed Sales
1,268
1,522
-17%
110
128
-14%
7
15
-53%
Average Sales Price
$942000
$891,000
6%
$4,778,000
$4,991,000
-4%
$15,609,000
$24,562000
-36%
Median Sales Price
$750,000 $680,000
10%
$4,000,000
$4,395,000
-9%
$14,000,000
$14,500,000
-3%
NUMBER OF CLOSED SALES
2500
$1,321,000 $1,416,000
-7%
$800,000
9%
$ 735,000
AVERAGE and MEDIAN SALES PRICE
$1,600,000 $1,400,000
2000
$1,200,000 $1,000,000
1500
$800,000
1000
$600,000 $400,000
500
$200,000 $0
0 Q2:14
Q3:14
Q4:14
Q1:15 Q2:15 Q3:15 # of Closed Sales
Q4:15
Q2:14
Q1:16
Q3:14 Q4:14 Q1:15 Average Sales Price
Q2:15 Q3:15 Q4:15 Median Sales Price
Q1:16
CONDOS Manhattan overall condo sales showed gains in all facets including total number of closings; average sale price; average price per SF; and median sale price. There were 14% more sales; a gain of 23% in average sale price; an increase of 12% in average price per SF; and lastly, a rise of 30% in the overall median condo price. Within the three distinct price tiers, there was strength in lower prices and falling value measures on the high end this quarter. The average sale price declined 16%; the median sale price decreased 10%; and the average price per SF fell 13% for units over $10mil. UNDER $3M
CONDOS
Q1 : 16
Number of Closed Sales
987
Average Sales Price Average PPSF Median Sales Price
Q1 : 15 % Change Q1 : 16 944
$1,431,000 $1,300,000
$1,470
$3M TO $10M
$1,348
$1,275,000 $1,160,000
5% 10%
343
10%
$2,314
% Change
Q1 : 16
Q1 : 15
% Change
Q1 : 16
Q1 : 15
% Change
244
41%
60
32
88%
1,390
1,220
14%
4%
$15,809,000
$18,832,000
-16%
$2,910,000
$2,365,000
23%
3%
$4,009
$4,610
-13%
$1,795
$1,601
12%
6%
$14,250,000
$15,900,000
-10%
$1,795,000
$1,380,000
30%
$2,243
$4,325,000 $4,073,000
NUMBER OF CLOSED SALES
1800
TOTAL
Q1 : 15
$4,833,000 $4,640,000
9%
OVER $10M
$3,500,000
1600
AVERAGE and MEDIAN SALES PRICE
$3,000,000
1400
$2,500,000
1200 1000
$2,000,000
800
$1,500,000
600
$1,000,000
400
$500,000
200 0 Q2:14
Q3:14
Q4:14
Q1:15
Q2:15
# of Closed Sales
Q3:15
Q4:15
Q1:16
$0 Q2:14 Q3:14 Q4:14 Q1:15 Q2:15 Q3:15 Q4:15 Q1:16 Average Sales Price Median Sales Price
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NEIGHBORHOOD BREAKDOWN UPPER EAST SIDE north of 58th Street and south of 96th Street, Fifth Avenue to East End Avenue There were 385 coop sales which was an 18% drop from the same period in 2015. The average coop price of $1,717,000 was a 12% decline from the prior year while the median coop price posted a 12% gain to $950,000. The average and median condo prices had minor gains of 4% although there were far more closing with 261 units sold versus 146 units sold in the 2015 period.
CO-OPS
CONDOS
Q1 : 16
Q1 : 15
% Change
385
471
-18%
# Closed Sales
Average Sales Price
$1,717,000
$1,946,000
-12%
Median Sales Price
$950,000
$850,000
12%
# Closed Sales
Q1 : 16
Q1 : 15
% Change
261
146
79%
Average Sales Price
$2,663,000
$2,556,000
4%
Median Sales Price
$1,731,000
$1,660,000
4%
UPPER WEST SIDE north of 58th Street and south of 110th Street, Central Park West to Riverside Drive The total number of co-op sales on the Upper West Side was 282, a decrease of 16% from prior year. Coops in this market area posted an average sale price of $1,435,000, a 9% gain over prior year. Fewer closings of ultra-lux condos (priced over $10mil) caused a decline in the average condo sale price from $2,510,000 to $2,196,000. In the 1st Quarter 2016, the highest closed condo unit in this sector was $15.5mil whereas in the 1st Quarter of 2015, there was a high sale price of $35mil. Also, there were nearly twice the number of $10mil + sales in 2015. While these factors contributed to a decline in the average condo sale price, the median sale price was essentially stable at $1,500,000.
CO-OPS
Q1 : 16
Q1 : 15
% Change
282
334
-16%
Average Sales Price
$1,435,000
$1,313,000
9%
Median Sales Price
$875,000
$800,000
9%
# Closed Sales
CONDOS
Q1 : 16
Q1 : 15
% Change
162
167
-3%
Average Sales Price
$2,196,000
$2,510,000
-13%
Median Sales Price
$1,500,000
$1,538,000
-2%
# Closed Sales
MIDTOWN north of 34th Street and south of 57th Street The average coop sale price in this market area increased 8% to $999,000 while the median coop price posted a 4% gain to $650,000. There were nearly equal amount of condo unit closings in 1st Quarter 2016 versus 1st Quarter 2015. With the start of closings at the ultra-luxury project 432 Park Avenue, the condo average sale price measure was 13% higher. The median measure also posted a substantial increase with a median sale price of $1,800,000, a 35% gain from prior year.
CO-OPS
CONDOS
Q1 : 16
Q1 : 15
% Change
227
272
-17%
# Closed Sales
Average Sales Price
$999,000
$923,000
8%
Median Sales Price
$650,000
$625,000
4%
# Closed Sales
Q1 : 16
Q1 : 15
% Change
336
345
-3%
Average Sales Price
$3,075,000
$2,729,000
13%
Median Sales Price
$1,800,000
$1,330,000
35%
UPTOWN north of 96th Street on the East Side and north of 110th Street on the West Side The average sale price of co-op sales was higher by 6%, reaching $526,000. The median co-op sale price posted a decline of 4% to $426,000. Market measures were much lower in the condo sector as there were far fewer, new construction units sold.
CO-OPS
Q1 : 16
Q1 : 15
% Change
119
156
-24%
Average Sales Price
$526,000
$498,000
6%
Median Sales Price
$426,000
$445,000
-4%
# Closed Sales
CONDOS
Q1 : 16
Q1 : 15
% Change
87
160
-46%
Average Sales Price
$701,000
$903,000
-22%
Median Sales Price
$570,000
$750,000
-24%
# Closed Sales
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NEIGHBORHOOD BREAKDOWN DOWNTOWN south of 34th Street through Tribeca The 352 co-op sales in the 1st Quarter of 2016 was a decline of 18% as compared to prior year. However, coop price measures were much higher with a 16% gain in the average sale price and a 10% gain in the median sale price. Because of closings at 150 Charles and The Greenwich Lane project, this was another period of large gains in Downtown condo price measures. There was a 38% increase in the average price of a condo and a 39% increase in the median condo sale price.
CO-OPS
CONDOS
Q1 : 16
Q1 : 15
% Change
352
427
-18%
# Closed Sales
Average Sales Price
$1,283,000
$1,102,000
16%
Median Sales Price
$845,000
$765,000
10%
# Closed Sales
Q1 : 16
Q1 : 15
% Change
447
307
46%
Average Sales Price
$3,979,000
$2,891,000
38%
Median Sales Price
$2,772,000
$2,000,000
39%
FINANCIAL DISTRICT | BATTERY PARK CITY There were 97 condo units closed in the 1st Quarter of 2016, a slight increase over prior year. This market area had significantly higher average and median condo prices as record high prices were reached in the market areaâ&#x20AC;&#x2122;s ultra-luxury product. The average sale price of $1,751,000 was a 40% increase while the median price posted a gain of 25% to reach $1,340,000.
CO-OPS
Q1 : 16
Q1 : 15
% Change
20
5
300%
Average Sales Price
$731,000
$823,000
-11%
Median Sales Price
$710,000
$790,000
-10%
# Closed Sales
CONDOS
Q1 : 16
Q1 : 15
% Change
97
95
2%
Average Sales Price
$1,751,000
$1,251,000
40%
Median Sales Price
$1,340,000
$1,075,000
25%
# Closed Sales
AVERAGE SALES PRICE
TOTAL NUMBER OF SALES 1400
1400 1400
1400
1200
1200 1200
1200
1000
1000 1000
1000
800
800800
800
600
600600
600
400
400400
400
200
200
200
0
Q3:13
0
1200
$2,500,000
1000
$2,000,000
800 $1,500,000
200
0
1400
$3,000,000
Q2:14
Q3:14
Q4:14
Q1:15
Q2:15
Q3:15
Q4:15
Q1:16
Q4:13Q3:13 Q1:14Q4:13 Q2:14Q1:14 Q3:14Q2:14 Q4:14Q3:14 Q1:15Q4:14 Q2:15Q1:15 Upper East Side
Upper East Side Upper East Side Midtown Midtown Downtown Midtown Downtown Downtown
Upper West Side
0
600 $1,000,000 $500,000 $0
Q2:15 Q3:13
400 200 0
Q2:14 Q3:14 Q4:14 Q1:15 Q2:15 Q3:15 Q4:15 Q1:16 Q4:13 Q3:13 Q1:14Q4:13 Q2:14Q1:14 Q3:14Q2:14 Q4:14Q3:14 Q1:15Q4:14 Q2:15Q1:15 Q2:15
Upper Upper EastEast SideSide Upper East Side Upper West SideUpper West Side Uptown Midtown Midtown Midtown Uptown Financial Uptown District / Battery Park City Downtown Downtown Financial DistrictFinancial / BatteryDistrict Park City / Battery Park City Downtown
Upper WestSide Side Upper West Upper West Side Uptown Uptown Uptown FinancialDistrict District BatteryDistrict Park City City Financial Financial / /Battery Park / Battery Park City
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MARKET COMPARISONS Comparing the first quarter of 2015 and the first quarter of 2016, all three markets posted gains in price per sq. ft. with San Francisco seeing the largest increase at 14.1%, New York City at 11.5%, and Los Angeles at 8.2%. Comparing this quarter and last quarter New York City increased by 5.1% and San Francisco also increased with a modest 1.7%. Los Angeles remained flat compared to last quarter.
AVERAGE PRICE PER SQ. FT. | CONDOS ONLY $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 Q2:14
Q3:14
Q4:14
Q1:15
New York City
Q2:15 San Francisco
Q3:15
Q4:15
Q1:16
Los Angeles
SOTHEBY’S INTERNATIONAL REALTY - ON THE MARKET, AROUND THE WORLD
PHUKET, THAILAND | $22,000,000
SYDNEY, AUSTRALIA | Price Upon Request
WEB: 5QP5B3
WEB: DKZTNR
ROME, ITALY | $4,380,546 WEB: YK87NF
Hunter Sotheby’s International Realty
Sydney Sotheby’s International Realty
Italy Sotheby’s International Realty
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FEATURED LISTINGS
1120 FIFTH AVENUE | $15,200,000
230 WEST 10TH STREET | $14,500,000
2 RIVER TERRACE | $12,000,000
5 BR / 4.5 BA | WEB: 00110700
Approx. 6,700 sq. ft. | WEB: 00110478
5 BR / 7.5 BA | WEB: 00110619
Lisa Maysonet | 212.606.7603
Martine D. Capdevielle | 212.400.8702
Craig George | 212.400.8754
Gary Kabol | 212.606.7606
Vannessa A. Kaufman | 212.606.7639
Nikki Field | 212.606.7669
820 PARK AVENUE | $9,500,000
250 WEST 82ND STREET | $3,500,000
232 EAST 6TH STREET, 3B | $2,650,000
4 BR / 4.5 BA | WEB: 00110665
4 BR / 2.5 BA | WEB: 0138340
3 BR / 2 BA | WEB: 0138456
Serena Boardman | 212.606.7611
Debra Pinto | 212.810.4975
Sandra Cohen | 212.810.4973 Alain Azaria | 212.431.2472
59 FOURTH AVENUE, APT 7A | $2,250,000
416 WASHINGTON STREET | $2,200,000
170 SECOND AVENUE, 8A | $1,600,000
2 BR / 2 BA | WEB: 0138336
1 BR / 1.5 BA | WEB: 0138466
2 BR / 1 BA | WEB: 0138391
Jeremy V. Stein | 212.431.2427
Torsten Krines | 212.431.2471
Janet Greenberg | 212.431.2466
Jennifer Lanza | 212.810.4960
Beverly Sonnenborn | 212.431.2453
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END NOTES A MESSAGE FROM OUR MANAGERS: With the end of daylight savings time, the days are getting longer and the spring market is gaining its stride and we anticipate an active spring market. With the continued excitement and desire to make New York City home, there is still a shortage of inventory in the studio and one-bedroom markets. The new construction properties being introduced to the market are anticipated to be larger-sized units with luxury price points above $4 million. We at Sotheby’s International Realty are excited to have been appointed the exclusive sales and marketing agency for The Woolworth Tower Residences, a collection of 33 condominium residences designed by Thierry W. Despont atop a celebrated New York landmark. At Sotheby’s International Realty, we ensure that every property marketed is shown in its best light and prepared for an international debut. Let us put the power of the Sotheby’s International Realty brand to work for you. If you are considering selling your property, we look forward to assisting you.
EAST SIDE MANHATTAN Ellie Johnson Brokerage Manager t: 212.606.7660 38 East 61st Street New York, New York 10065
DOWNTOWN MANHATTAN Diane Levine Brokerage Manager t: 212.431.2440 149 Fifth Avenue, 4th Floor New York, New York 10010
WEST SIDE MANHATTAN Diane Levine Brokerage Manager t: 212.579.9300 2244 Broadway New York, New York 10024
35 EAST 76TH STREET, SUITE 2906 | $6,000,000 | WEB: 00110734 Roberta Golubock, 212.606.7704 © MMXVI Sotheby’s International Realty, Inc. All Rights Reserved. All information in this report is provided by Vanderbilt Appraisal Company and other third party reports. Since all final closed data for the current quarter had not been reported at the time this report was compiled, the available closed data was extrapolated in an attempt to approximate full results for the current quarter. Actual results may materially vary from the approximated results. This offering is subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity.
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ON THE MARKET
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METROPOLITAN MARKETS NEW YORK, NY | Web: 0138268 | $5,650,000 SAN FRANCISCO, CA | Web: 0087780 | $5,395,000 HOUSTON, TX | Web: 1240556 | $5,250,000 RESORT MARKETS SONOMA, CA | Web: 0243927 | $5,275,000 AMAGANSETT, NY | Web: 1050627 | $5,250,000 MONTECITO, CA | Web: 0113951 | $5,950,000 FOREIGN MARKETS INDIA | Web: G6ZBKG | $5,684,793 SPAIN | Web: B858KK | $5,528,256 HONG KONG | Web: QGJQX9 | $5,671,492 sothebysrealty.com
AUCTION CALENDAR MAY 2016
© 2016 Calder Foundation, New York / Artists Rights Society (ARS), New York
Property Formerly in the Collection of Alfred H. Barr, Jr. Alexander Calder Untitled, circa 1942 Estimate $2,500,000-3,500,000
Orfèvrerie, Boîtes en Or et Objets de Vitrine
Impressionist & Modern Art Day Sale
Contemporary Art Day Auction
New York 10 May
New York 12 May
Contemporary Art Evening Auction
Important Chinese Art
New York 11 May
London 13 May
Finest and Rarest Wines
RM Sotheby’s: Monaco
London 11 May
Monte Carlo 14 May
Paris 3 May MALCOLM Part One: New York
New York 7 May Impressionist & Modern Art Evening Sale
New York 9 May
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