WEEKLY MARKET REPORT Sept. 17th - Sept. 24th, 2020
15 8 M E R C E R S T R E E T AVA I L A B L E I N S O H O
We e k l y R e p o r t Sept. 17th - Sept. 24th, 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. 17th - Sept. 24th, 2020
All properties listed at $4MM and above.
IN-CONTRACT PROPERTIES This week 16 properties entered into contract, which is up from last week’s 12. There were 10 condos, 5 co-ops, and 1 townhouse, which totaled $107,515,000 in sales volume. Over the last 4 weeks the average amount of contracts signed is 11.25. Two weeks ago there were 11 contracts signed. The average price per foot rose 7.12% from the last week average of $2,386 per foot. The most expensive contract of the week was #5DC at 101 Central Park West. The 5 Bed 4.5 bath residence features 60’ of Central Park frontage. The apartment is fully finished and move in ready. The building is one of the most coveted and desirable buildings on Central Park West. It entered contract asking $12,500,000.
THE NUMBERS
16
Properties In Contract
$107,515,000 Total Sales Volume
33.3%
$6,719,687
Average Contract Price
14.7%
13.9%
107
$2,556
Average Days on Market
Average Price Per Foot
39.2%
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7.12%
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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. 17th - Sept. 24th, 2020
Newly listed properties above $4MM.
NEW TO MARKET
This week 57 new listings were put on the market, which is siginificantly less than last weeks total of 70. The last two weeks saw a surge in new inventory due to the usual post labor day listing frenzy. 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 10M at 158 Mercer Street, the home of André Balazs. Located in the tallest building in SoHo, this 4,200 s/f residence is fully renovated, and features some of the best views downtown. It is listed for $12,000,000.
THE NUMBERS
57
New Listings
$483,036,000
$8,474,315
Total Volume
18.5%
Average Ask Price
10%
10.5%
$2,567
$8,117
Average Price Per Foot
Average Monthlies
11.5%
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4.47%
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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. 17th - Sept. 24th, 2020
OUR NEW TO MARKET TOP PICKS
158 Mercer St.
20 9 E ast 61 st S t ree t
CONDO 4 BEDS 2.5 BATHS | 4,200 S/F
TWNHS 5 BEDS 3.5 BATHS | 5,000 s/f
Fully renvated, Full Floor Res idence, Oversized Closet, InUnit Gym, Full Ser vice Building.
Renovated, 20’ Wide, 13’ Ceilings, Tenant in Place unit 8/2021
252 East 57th Street
7 1 5 Pa r k Av e n u e
CONDO 3 BEDS | 3.5 BATHS | 2,996 s/f
CONDO 4 BEDS | 5 BATHS | 2,600 s/f
Newly Developed Building, Private Baclony, Hudson River Views, Full Service Building.
High Floor Unit, Park Ave Views, Private Outdoor Space, 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. 17th - Sept. 24th, 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. 17th - Sept. 24th, 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