Wednesday, May 13, 2015

Inventory is at the lowest point ever in the first quater of 2015 in NYC

From left: 14 East 63rd Street, 1040 Fifth Avenue and Jeff Blau
From left: 14 East 63rd Street, 1040 Fifth Avenue and Jeff Blau
 
Manhattan saw 41 contracts signed for $4 million or more — the highest number in one week so far in 2015 — last week, according to the latest Donna Olshan luxury market report.

Last month also saw the highest number of co-ops sold since the first week of December. Condos still outsold co-ops 28 to 11. Two townhouses went into contract.

The biggest deal of last month was Related’s Jeff Blau’s former unit 14A at 1040 Fifth Avenue for $34.5 million. The three-bedroom, 4.5-bathroom pad first hit the market for $43 million in January 2014. Blau bought a townhouse at 113-115 East 70th Street last month for $51 million.

The second biggest contract of the week was a $25 million townhouse at 14 East 63rd Street. The 8,519-square-foot home includes seven bedrooms, five bathrooms and gallery space. [Olshan Realty] — Claire Moses