January 2016 monthly market report Sales Summary... Historial Performance... Notable New Listings... 2 4 7 Snapshot... 8 CityRealty is the website for NYC real estate, providing high-quality listings and tailored agent matching for prospective apartment buyers, as well as in-depth analysis of the New York real estate market.
Summary The average sale price for Manhattan apartments rose in the four weeks leading up to December 1, but the total number of sales dipped. The average price for an apartment taking into account both condo and co-op sales was $2.2 million, up from $1.9 million in the preceding month. The number of recorded sales, 862, was down substantially from the 988 recorded in the preceding month. AVERAGE SALES PRICE CONDOS AND CO-OPS $2.2 Million The average price of a condo was $2.9 million and the average price of a co-op was $1.3 million. There were 467 condo sales and 395 co-op sales. Most Expensive Sales $45.0M Central Park West, #1819B 4 beds, 6+ baths Approx. 5,6 ft 2 ($8,021/ft 2 ) RESIDENTIAL SALES 862 UNITS $1.86B GROSS SALES The top three sales this month were in the two most expensive condominiums constructed in New York City in the past decade: Central Park West and One57. The most expensive sale was unit 1819B in Central Park West, a 5,6-square-foot, fourbedroom condo that sold for $45 million. The second most expensive sale was also in Central Park West unit 8A, a four-bedroom, 4,565-square-foot condo, sold for $35 million. $35.0M Central Park West, #8A 4 beds, 5.5 baths Approx. 4,565 ft 2 ($7,667/ft 2 ) The third most expensive sale was unit 54B in One57, which sold for $34.4 million. The 5,475-square-foot condominium has five bedrooms. 467 CONDOS SOLD AVG PRICE $2.9M AVG PRICE/FT2 $1,845 395 CO-OPS SOLD AVERAGE PRICE $1.3M $34.4M One57, #54B 7 West 57 th Street 5 Beds, 5.5 baths Approx. 5,475 ft 2 ($6,278/ft 2 ) *CityRealty's Manhattan area market comprises the area south of 5th street on the West Side, and south of 96th street on the East Side. **CityRealty s January 2016 market report includes all public records data available through December 31, 20 for deeds recorded the prior month. 2
+31+ MONTHLY MARKET REPORT JANUARY 2016 Manhattan Condo Sales Summary 30-Day Total Sales by Region 31% Upper West Side $427M 31+5+21 % Upper East Side $168M 21% Midtown $279M 31% Downtown $429M 5% Financial District / BPC $62M Downtown was the highest-grossing region in Manhattan, with $429 million in condominium sales. The Upper West Side was the second highest-grossing area, with $427 million in sales. Downtown also had the highest price/ft 2, $2,268/ft 2, and the Upper West Side the second-highest, $1,872/ft 2. DOWNTOWN Chelsea $1,9 / ft 2 (+20.7%) 19 Flatiron / Union Square $2,455 / ft 2 (+.5%) 22 Greenwich Village $2,659 / ft 2 (-.9%) 8 SOHO $1,934 / ft 2 (-0.3) 5 Tribeca $2,224 / ft 2 (+19.2%) West Village $2,575 / ft 2 (+6.8%) 16 FINANCIAL DISTRICT / BCP Battery Park City $1,544 / ft 2 (-1.3%) Financial District $1,390 / ft 2 (+.0%) 23 MIDTOWN Midtown East $2,017 / ft 2 (+36.7%) 23 Midtown West $1,887 / ft 2 (+.0%) 58 Murray Hill $1,516 / ft 2 (+5.1%) 20 Turtle Bay / United Nations $1,397 / ft 2 (+1.3%) 16 UPPER EAST SIDE Carnegie Hill $1,537 / ft 2 (-2.4%) 26 Lenox Hill $1,634 / ft 2 (-27.4%) Park/Fifth Ave. to 79th St. $3,189 / ft 2 (+35.5%) 5 Yorkville $1,355 / ft 2 (-.8%) 33 UPPER WEST SIDE Broadway Corridor $1,451 / ft 2 (-4.1%) 43 Central Park West $2,885 / ft 2 (+31.0%) 19 Lincoln Center $1,847 / ft 2 (-0.3%) 7 Riverside Dr. / West End Ave. $1,866 / ft 2 (+.9%) 63 Avg Price / Ft 2 by Region $2,000 $1,800 avg price / ft 2 $1,600 $1,400 $1,200 $1,000 $800 20 20 20 20 20 key: upper west side upper east side midtown downtown financial district/bpc *Neighborhoods with less than 5 sales in the past are not included in the table. Percentage changes are calculated over the same period of the previous month. **CityRealty s January 2016 market report includes all public records data available through December 31, 20 for deeds recorded the prior month. 3
Historical Performance: Selected Resales Of the 467 condo sales in Manhattan, 5 had sold since 2005. The selected resales listed below are grouped according to the years they were initially purchased. The price difference between the sales and the Compound Annual Growth Rate (CAGR) is indicated. BUILDING, UNIT Original Sale Year : 2005 Total Transactions : SQUARE FEET FIRST SALE MOST RECENT SALE PRICE CHANGE COMPOUND ANNUAL GROWTH RATE 56 Pine Street, #8B 706ft² Dec, 2005 ($4,670) Nov 03, 20 ($740,000) $329,330 (+80.2%) 6.2% 555 West 23rd Street, #S9L 19ft² Dec, 2005 ($1,349,181) Nov 24, 20 ($1,925,000) $575,819 (+42.7%) 3.6% The Chatham in Chelsea, 445 West 19th Street, #8H 500ft² Jun, 2005 ($540,000) Nov, 20 ($780,000) $240,000 (+44.4%) 3.6% The Kingsley, 400 East 70th Street, #06 767ft² Jan 21, 2005 ($599,000) Nov, 20 ($860,000) $261,000 (+43.6%) 3.4% 30 West 86th Street, #4A 2000ft² Dec 21, 2005 ($2,800,000) Nov 04, 20 ($3,840,000) $1,040,000 (+37.1%) 3.3% The Heritage at Trump Place, 240 Riverside Boulevard, #4E 880ft² Aug 17, 2005 ($924,826) Nov, 20 ($1,345,000) $420,174 (+45.4%) 3.8% 160 Wooster Street, #5A 2404ft² Feb, 2005 ($2,571,1) Nov, 20 ($5,435,625) $2,864,544 (+1.4%) 7.2% One Beacon Court, 1 East 58th Street, #41B 1757ft² Apr 29, 2005 ($3,5,662) Nov 20, 20 ($6,550,000) $3,444,338 (+0.9%) 7.4% 2006: Original 22 resales Sale Year : 2006 Total Transactions : 22 Olympic Tower, 641 Fifth Avenue, #26B 38ft² Jun 29, 2006 ($1,600,000) Nov, 20 ($2,647,450) $1,047,450 (+65.5%) 5.5% Riverwalk Place, 455 Main Street, #3N 952ft² Jan 25, 2006 ($641,497) Nov 04, 20 ($960,000) $318,503 (+49.6%) 4.2% Cielo, 450 East 83rd Street, #E 1618ft² Jun 22, 2006 ($1,654,656) Nov 06, 20 ($2,230,000) $575,344 (+34.8%) 3.2% Fifth Avenue Tower, 445 Fifth Avenue, #H 650ft² Nov 20, 2006 ($635,300) Nov, 20 ($870,000) $234,700 (+36.9%) 3.6% The Rambusch Building, 40 West th Street, #R6 2860ft² Feb 17, 2006 ($3,025,000) Nov 03, 20 ($4,800,000) $1,775,000 (+58.7%) 4.9% 345 West th Street, #1A 1800ft² Dec, 2006 ($1,687,500) Nov 03, 20 ($2,447,500) $760,000 (+45.0%) 4.3% Urban Glass House, 330 Spring Street, #9B 1894ft² Dec 04, 2006 ($3,767,525) Nov, 20 ($3,800,000) $32,475 (+0.9%) 0.1% 325 Fifth Avenue, #20H 98ft² Dec 04, 2006 ($1,634,291) Nov 03, 20 ($2,275,000) $640,7 (+39.2%) 3.8% Original Sale Year : 20 Total Transactions : 20 The Link, 3 West 52nd Street, #9B 678ft² May, 20 ($751,500) Oct 21, 20 ($850,000) $98,500 (+.1%) 1.5% The Delegate, 301 East 45th Street, #5C 330ft² Jan, 20 ($390,000) Oct 02, 20 ($478,000) $88,000 (+22.6%) 2.4% Millennium Tower Residences, 30 West Street, #2F 525ft² Oct 31, 20 ($405,000) Oct 22, 20 ($495,000) $90,000 (+22.2%) 2.6% 237 East 88th Street, #303 768ft² Apr 03, 20 ($920,000) Oct 20, 20 ($1,325,000) $405,000 (+44.0%) 4.4% Princeton House, 2 West 95th Street, #16C 6ft² Mar 16, 20 ($449,498) Oct 30, 20 ($776,000) $326,502 (+72.6%) 6.6% The Ansonia, 29 Broadway, #42352 31ft² Jul 18, 20 ($1,682,9) Oct, 20 ($2,725,000) $1,042,8 (+61.9%) 6.1% 184 Thompson Street, #6P 6ft² Oct, 20 ($640,000) Oct, 20 ($819,000) $179,000 (+28.0%) 3.2% The Centria, 18 West 48th Street, #20D 45ft² Oct 19, 20 ($1,318,633) Oct 01, 20 ($1,700,000) $381,367 (+28.9%) 3.3% Original Sale Year : 20 Total Transactions : 23 Atelier, 635 West 42nd Street, #9L 633ft² Jul 23, 20 ($725,000) Nov, 20 ($840,000) $5,000 (+.9%) 2.1% 6 West 0th Street, #E 17ft² Sep, 20 ($1,282,995) Nov 24, 20 ($1,635,000) $352,005 (+27.4%) 3.4% 59 West th Street, #6G 900ft² Jul 31, 20 ($1,220,000) Nov 25, 20 ($1,565,000) $345,000 (+28.3%) 3.5% 425 Fifth Avenue, #48C 530ft² Apr 29, 20 ($775,000) Nov, 20 ($795,500) $20,500 (+2.6%) 0.3% Park West Village, 400 Central Park West, #19G 545ft² Sep, 20 ($585,000) Nov 20, 20 ($780,000) $195,000 (+33.3%) 4.1% Wellington Tower, 350 East 82nd Street, #3K 718ft² Apr 30, 20 ($7,683) Nov, 20 ($775,000) $67,317 (+9.5%) 1.2% The Continental, 321 East 48th Street, #A 960ft² Jun 02, 20 ($880,000) Nov 17, 20 ($1,9,500) $229,500 (+26.1%) 3.2% 30 East 85th Street, #5D 750ft² Jan 18, 20 ($917,000) Nov 24, 20 ($1,735,000) $818,000 (+89.2%) 8.5% Original Sale Year : 20 Total Transactions : Millennium Tower Residences, 30 West Street, #29C 68ft² Feb, 20 ($1,629,200) Oct 28, 20 ($2,5,500) $456,300 (+28.0%) 3.8% Princeton House, 2 West 95th Street, #G 46ft² Nov 30, 20 ($1,475,000) Oct 30, 20 ($2,0,000) $625,000 (+42.4%) 6.2% 200 West End Avenue, #21A 28ft² Mar 26, 20 ($1,575,000) Oct 28, 20 ($2,375,000) $800,000 (+50.8%) 6.4% The Monarch, 200 East 89th Street, #28C 6ft² Sep, 20 ($487,000) Oct 22, 20 ($650,000) $163,000 (+33.5%) 4.9% 20 Pine Street, #2405 58ft² Jul 03, 20 ($875,000) Oct 29, 20 ($1,425,000) $550,000 (+62.9%) 8.1% Evans Tower, 171 East 84th Street, #17E 750ft² Dec 28, 20 ($825,000) Oct, 20 ($1,375,000) $550,000 (+66.7%) 9.3% District, 1 Fulton Street, #320 684ft² Sep 24, 20 ($701,000) Oct 02, 20 ($775,000) $74,000 (+.6%) 1.7% 0 West Condos, 0 West 93rd Street, #5K 1805ft² Dec 18, 20 ($2,700,000) Oct 22, 20 ($3,855,000) $1,5,000 (+42.8%) 6.3% 4
Selected Resales, Cont. BUILDING, UNIT SQUARE FEET FIRST SALE MOST RECENT SALE PRICE CHANGE COMPOUND ANNUAL GROWTH RATE Original Sale Year : 20 Total Transactions : 7 5 East 72nd Street, #6K ft² Mar 19, 20 ($1,376,865) Nov 06, 20 ($550,458) ($826,4) (-60.0%) -.1% 50 Orchard Street, #5-D ft² Feb 25, 20 ($1,069,162) Nov 20, 20 ($1,800,000) $730,838 (+68.4%) 9.6% The Dillon, 425 West 53rd Street, #502 ft² Nov 02, 20 ($1,020,000) Nov 23, 20 ($1,675,000) $655,000 (+64.2%).4% Bridge Tower Place, 401 East 60th Street, #32B 27ft² Mar 26, 20 ($1,700,000) Nov, 20 ($2,285,000) $585,000 (+34.4%) 5.4% The Setai Wall Street, 40 Broad Street, #24F 521ft² Mar, 20 ($476,9) Nov, 20 ($680,000) $203,3 (+42.6%) 6.5% 327 Central Park West, #D 99ft² Jan, 20 ($1,170,987) Nov 04, 20 ($1,961,000) $790,0 (+67.5%) 9.4% 2 East 51st Street, #E 98ft² May, 20 ($1,476,462) Nov 24, 20 ($1,900,000) $423,538 (+28.7%) 4.7% Original Sale Year : 20 The Total Aldyn, Transactions 60 Riverside : Boulevard, #2301 1618ft² Jul 06, 20 ($2,800,187) Nov 23, 20 ($3,600,000) $799,8 (+28.6%) 6.0% The Aldyn, 60 Riverside Boulevard, #2301 1618ft² Jul 06, 20 ($2,800,187) Nov 23, 20 ($3,600,000) $799,8 (+28.6%) 6.0% One Rector Park, 333 Rector Place, #06 627ft² Nov, 20 ($544,763) Nov 05, 20 ($763,000) $218,237 (+40.1%) 9.0% Sheffield 57, 322 West 57th Street, #53U 585ft² Feb, 20 ($830,000) Nov 04, 20 ($1,300,000) $470,000 (+56.6%).1% 291 Seventh Avenue, #4 3370ft² Apr, 20 ($3,250,000) Nov 30, 20 ($3,750,000) $500,000 (+.4%) 3.2% Devonshire House, 28 East th Street, #D 93ft² Jul 06, 20 ($2,189,237) Nov 16, 20 ($3,500,000) $1,3,763 (+59.9%).4% The Level Club, 253 West 73rd Street, #H 50ft² Dec, 20 ($1,435,000) Nov, 20 ($1,850,000) $4,000 (+28.9%) 6.9% 200 Chambers Street, #29C 34ft² May 20, 20 ($2,400,000) Nov 23, 20 ($3,795,000) $1,395,000 (+58.1%).7% The Siena, 188 East 76th Street, #9A 2006ft² Jun 21, 20 ($3,5,000) Nov 19, 20 ($4,425,000) $1,300,000 (+41.6%) 8.4% Original Sale Year : 20 505 Total Greenwich Transactions Street, : #E 35ft² Jan, 20 ($1,885,000) Nov, 20 ($2,450,000) $565,000 (+30.0%) 7.2% 505 Greenwich Street, #E 35ft² Jan, 20 ($1,885,000) Nov, 20 ($2,450,000) $565,000 (+30.0%) 7.2% 422 West 20th Street, 422 West 20th Street, #3H 906ft² Dec 20, 20 ($1,0,440) Nov, 20 ($1,870,000) $729,560 (+64.0%) 19.1% Twenty9th Park Madison, 39 East 29th Street, #B 855ft² Jan 17, 20 ($1,0,000) Nov 24, 20 ($1,725,000) $605,000 (+54.0%).9% Worldwide Plaza, 350 West 50th Street, #4EE 4ft² Nov 16, 20 ($435,000) Nov 17, 20 ($582,000) $7,000 (+33.8%).2% One Rector Park, 333 Rector Place, #705 84ft² Jun, 20 ($1,0,000) Nov, 20 ($1,700,000) $560,000 (+49.1%).4% Sheffield 57, 322 West 57th Street, #22P1 79ft² Jul 16, 20 ($1,425,550) Nov 16, 20 ($2,050,000) $624,450 (+43.8%).5% Three Ten, 3 East 53rd Street, #23A 1603ft² Sep, 20 ($2,700,000) Nov 24, 20 ($3,400,000) $700,000 (+25.9%) 7.6% 2 West 88th Street, #3A 5ft² Jul 03, 20 ($5,000) Nov, 20 ($745,000) $235,000 (+46.1%).0% Original Sale Year : 20 52 Total Park Transactions Avenue, #17 : 28ft² Apr 04, 20 ($1,842,500) Nov, 20 ($3,250,000) $1,4,500 (+76.4%) 24.6% 52 Park Avenue, #17 28ft² Apr 04, 20 ($1,842,500) Nov, 20 ($3,250,000) $1,4,500 (+76.4%) 24.6% Laight House, 52 Laight Street, #R6 18ft² Oct 03, 20 ($3,054,750) Nov 19, 20 ($4,900,000) $1,845,250 (+60.4%) 25.5% Carriage House, 5 East 80th Street, #1C 750ft² Oct 28, 20 ($965,000) Nov 02, 20 ($903,000) ($62,000) (-6.4%) -3.3% 50 Pine Street, #9S 18ft² Oct, 20 ($1,231,000) Nov 20, 20 ($1,521,000) $290,000 (+23.6%).7% The Lispenard, 46 Lispenard Street, #4A 1920ft² Jun, 20 ($2,800,188) Nov 02, 20 ($3,800,000) $999,8 (+35.7%).0% The Devon, 333 East 34th Street, #5L 85ft² Apr 24, 20 ($1,0,000) Nov 18, 20 ($1,327,500) $177,500 (+.4%) 5.9% 264 West 77th Street, #3 3ft² Mar 25, 20 ($339,690) Nov, 20 ($560,000) $220,3 (+64.9%) 21.4% Manhattan House, 200 East 66th Street, #D0203 60ft² Jul, 20 ($2,392,888) Nov, 20 ($3,022,500) $629,6 (+26.3%).5% Original Sale Year : 20 Channel Total Transactions Club, 455 : East 7 86th Street, #31B 1640ft² Apr, 20 ($2,5,000) Nov 17, 20 ($2,432,0) $357,0 (+17.2%).6% Channel Club, 455 East 86th Street, #31B 1640ft² Apr, 20 ($2,5,000) Nov 17, 20 ($2,432,0) $357,0 (+17.2%).6% Battery Pointe, 300 Rector Place, #2A 6ft² May 30, 20 ($355,000) Nov 06, 20 ($4,7) $58,7 (+16.5%).4% Tower 270, 270 Broadway, #A 1951ft² Jun 06, 20 ($2,900,005) Nov, 20 ($3,670,000) $769,995 (+26.6%) 18.1% The Jefferson, 2 East th Street, #3I 03ft² Aug 20, 20 ($1,570,5) Nov, 20 ($1,960,000) $389,895 (+24.8%) 20.9% Chelsea Green, 1 West 21st Street, #9D 695ft² Nov 17, 20 ($1,053,889) Nov 19, 20 ($1,550,000) $496,1 (+47.1%) 47.1% Central Park West, #1819B 56ft² May, 20 ($48,000,000) Nov, 20 ($45,000,000) ($3,000,000) (-6.3%) -4.5% Trump Parc East, 0 Central Park South, #3A 938ft² Feb 28, 20 ($2,851,0) Nov, 20 ($3,000,000) $8,900 (+5.2%) 3.1% 5
Historical Performance : Featured Resales Twenty9th Park Madison 481 Washington Street, #B $1.7M $2.0m +8.4% annual growth rate (3yrs)* $1.0M +$619,000 Nov 4, 20 $1,650,000 Dec, 20 $1,031,000 Central Park West, #8A $35M $35M +9.9% Annual growth rate (4yrs)* $16M +18,005,4 Nov 17, 20 $35,000,000 Feb 29, 20 $16,994,592 Atelier 635 West 42nd Street, #32D $1.6M $2.0M +2.3% annual growth rate (6yrs)* $1.0M +$266,275 Nov 25, 20 $1,590,000 Sep 19, 20 $1,323,725 The Julliard Building 18 Leonard Street, #1D Lloyd 54 445 West 54th Street, #2C $6.4M $1.3M $7.0M +9.2% annual growth rate (7yrs)* $3.0M +$3,3,000 $2.0M Nov 5, 20 $6,435,000 July 25, 20 $3,5,000 +5.6% annual growth rate (9yrs)* $1.0M +$600,000 Nov 30, 20 $1,300,000 Jun 22, 2004 $700,000 *The annual growth rate compares the first sale to the most recent sale. 6
Notable New Listings in NYC $23.25M 42 Wooster Street, #5N Approx. 4,800 ft 2 3 Beds, 3.5 Baths This three-bedroom Soho loft includes designer furnishings, a decorative fireplace in the living room, a built-in humidifier, European oak flooring, a private balcony and custom lighting. $.49M Pierhouse 90 Furman Street, #N Approx. 4,187 ft 2 5 Beds, 4 Baths This five-bedroom penthouse will be in Pierhouse, the first newly constructed condo within Brooklyn Bridge Park. The unit includes private outdoor space and a landscaped roof terrace with views of Lower Manhattan and the East River. $9.0M 443 Greenwich Street, #2F Approx 3,6 ft 2 3 Beds, 3.5 baths This three-bedroom condominium is in the newly converted Tribeca condominium at 443 Greenwich Street. The development features a 71-foot indoor swimming pool, a children s playroom, a 5,000-square-foot landscaped roof terrace and a fitness center. $5.25M Museum Tower West 53rd Street, #35A Approx 2,248 ft 2 3 Beds, 2.5 baths This three-bedroom in the Museum Tower condominium has a living room with floor-to-ceiling corner windows that face north and east. The unit has a formal dining room that can be converted to a library or additional bedroom. $4.95M The Aurora 554 Third Avenue, #PHD Approx 3,549 ft 2 4 beds, 4.5 baths This penthouse in Murray Hill s Aurora condominium includes four balconies with four separate perspectives. The unit also features multiple walk-in closets, a surround-sound stereo system and custom interior design work. 7
MONTHLY MARKET REPORT january 2016 Snapshot Today show meteorologist Dylan Dreyer has listed her Upper West Side co-op for $862,000. Dreyer purchased the one-bedroom unit for $580,000 in 20. Actor Jonah Hill was reportedly seen eyeing the new Noho conversion The Schumacher at 36 Bleecker Street. Hill is currently trying to sell a Soho loft that he bought three years ago. Celebrity photographer David LaChapelle sold his one bedroom in West Chelsea s 427 West 21st Street for $2.46 million after purchasing it for $1.74 million in 20. I wanted to bring a visceral sense of Europe to New York. Which is the same thing I ve done with my apartment. -Restaurateur Mark Barak on his West 16th Street apartment in a Greek Revival townhouse, which he bought because it reminded him of a London flat. -The New York Times Supermodel Irina Shayk has listed her West Village condo at 166 Perry Street for $3.995 million. Shayk purchased the duplex, which includes a large media room, for $1.96 million in 20. 8
Gabby Warshawer, CityRealty Director of Research and Communications, welcomes any questions and comments regarding the New York City real estate market. She can be reached at GWarshawer@cityrealty.com or by phone at 2-2-88. Visit us at www.cityrealty.com for more sales information. All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no property included in this report shall the number of bedrooms listed be considered a legal conclusion. 9