Weekly Luxury Report | Sept. 10th - 17th, 2020

WEEKLY MARKET REPORT Sept. 10th- Sept. 17th, 2020

52 0 W E ST 2 0 T H S T R E E T IN-CONTRACT IN CHELSEA

We e k l y R e p o r t Sept. 10th - Sept. 17th, 2020

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575 MADISON AVENUE, NEW YORK,NY NY10022.

10022. 212.

212. 891.7000 ©© 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTEDPRESENTED HEREIN IS INTENDED FOR INFORMATION 575 MADISON AVENUE, NEW YORK, 891.7000 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL HEREIN IS INTENDED FOR PURPOSES INFORMATION ONLY.ONLY. WHILE,WHILE, THIS INFORMATION IS BELIEVEDISTOBELIEVED BE CORRECT, IT ISCORRECT, REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT ALL PROPERTY PURPOSES THIS INFORMATION TO BE IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES ORNOTICE. WITHDRAWAL WITHOUT INFORMATION, INCLUDING, BUT NOTINCLUDING, LIMITED TO SQUARE FOOTAGE, ROOM COUNT, FOOTAGE, NUMBER OFROOM BEDROOMS AND NUMBER THE SCHOOL IN PROPERTY LISTINGS SHOULD BE NOTICE. ALL PROPERTY INFORMATION, BUT NOT LIMITED TO SQUARE COUNT, OFDISTRICT BEDROOMS AND THE SCHOOL DISTRICT IN VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727 PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727

WEEKLY MARKET REPORT Sept. 10th - Sept. 17th, 2020

All properties listed at $4MM and above.

IN-CONTRACT PROPERTIES This week 12 properties entered into contract. There were 10 condos, 1 co-op, and 1 townhouse, which totaled $93,705,000 in sales volume. Over the last 4 weeks the average amount of contracts signed is 11.75. Two weeks ago there were 9 contracts signed.

The average price per foot rose 10.9% from the last week average of $2,150 per foot.

The most expensive contract of the week was #PH37 at 520 West 28th Street. This is a Zaha Hadid designed new develoment property in Chelsea. It entered contract asking $24,975,000 ($3,644 per s/f ). The 6,835 s/f, 5 bed, and 6.5 bath penthouse featured two small balconies and one 2,500 s/f terrace.

THE NUMBERS

12

Properties In Contract

$93,705,000 Total Sales Volume

9.01%

$7,808,750

Average Contract Price

50.7%

38.2%

176

$2,386

Average Days on Market

Average Price Per Foot

23.9%

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10.9%

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727

WEEKLY MARKET REPORT Sept. 10th- Sept. 17th, 2020

Newly listed properties above $4MM.

NEW TO MARKET

This week 70 new listings were put on the market, which is slightly less than last weeks total of 73. The influx of new inventory can be due to the surge that usually happens post labor day weekend. This week 1 listing over $20MM, and 11 listings over $10MM were put on the market Our most notable new listing of the week is 6A/7B at 875 Fifth Avenue. This duplex has direct Central Park Views, feautures 4 beds and 5.5 baths, and is newly renovated.

It is listed at $11,999,000.

THE NUMBERS

70

New Listings

$536,619,000

$7,665,985

Total Volume

4.1%

Average Ask Price

26.4%

22.0%

$2,301

$7,769

Average Price Per Foot

Average Monthlies

17.4%

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15.2%

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727

WEEKLY MARKET REPORT Sept. 10th - Sept. 17th, 2020

OUR NEW TO MARKET TOP PICKS

8 75 F i f t h Ave n u e

414 Wash ingt on S t . P H

CO - OP 4 BEDS | 5.5 BATHS

CONDO 3 BEDS | 2.5 BATHS |3,140 s/f

Fully renvated, Central Park Views, Smart Home Enabled, Full Ser vice Building

Fully Renovated, Private Roof Terrace, Hudson River Views, Full Service Luxury Condo.

5 5 Ve s t r y S t . 6 C

8 1 2 F i f t h Av e n u e

CONDO 4 BEDS | 3.5 BATHS | 3,000 s/f

CO - OP 4 BEDS | 4.5 BATHS

Boutique Building, Keyed Elevator Entry, Fully Renovated.

Full Floor Residence, Central Park Views, Outdoor Space, Blake Canvas, Full Service Building.

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727

WEEKLY MARKET REPORT Sept. 10th- Sept. 17th, 2020

THIS WEEK’S SIGNED CONTRACTS

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727

WEEKLY MARKET REPORT Sept. 10th - Sept. 17th, 2020

S t ay t u n e d fo r n ex t we e k s m a rke t re p o r t !

Let us know if you would like information on a specific market segment, as we would be happy to provide it.

Please contact us directly to discuss any of this week’s new inventory.

Abraham Sarway ( 9 1 7 ) 75 5 - 0 3 9 4 ASarway@elliman.com 5 75 M a d i s o n Av e n u e , 3 r d F l N e w Yo r k , N Y 1 0 0 2 2

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. Fair Housing Logo CalBRE# 01947727