CITYREALTY MONTHLY MARKET - New York Real Estate Newstherealdeal.com/.../09/CityRealty_Monthly_Market... · as well as in-depth analysis of the New York real estate market. Sales

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S E P T E M B E R 2 0 1 5 | M O N T H LY M A R K E T R E P O R T

MONTHLYMARKETR E P O R T

C I T Y R E A LT Y

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.

Sales Summary Historical PerformanceNotable New ListingsSnapshot

2-34-6

78

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The average sale price for Manhattan apartments was virtually unchanged in the four weeks leading up to August 1, while the number of recorded closings dropped slightly. The average price for co-ops and condos was $1.8 million, the same as in the prior month’s reporting period. The number of recorded sales, 1,076, dropped slightly from the 1,150 recorded in the preceding four weeks.

The average price of a condo was $2.4 million and the average price of a co-op was $1.3 million. There were 474 condo sales, down from the 486 recorded in the prior month, and 602 co-op sales, down from the 664 in the preceding four weeks.

The top sale of the month was a four-bedroom co-op in the prewar, Rosario Candela-designed building at 1040 Fifth Avenue. Related CEO Jeff Blau sold the unit after buying it in January 2008 for $21.4 million and undertaking an extensive renovation.

The second-highest sale, for $28 million, was for a 4,116-square-foot unit on the 67th floor of One57. The third-highest sale, for $21.4 million, was also in One57, for a 3,466-square-foot unit on the 56th floor.

MONTHLY MARKET REPORT SEPTEMBER 2015

Summary

$30.0M1040 Fifth Avenue, #14A4 Bed, 6+ Bath Approx 4,700 ft2 ($6,383/ft2)

$28.0MOne57, #67B157 West 57th Street3 Bed, 3.5 Bath Approx 4,116 ft2 ($6,804/ft2)

$21.4MOne57, #56C157 West 57th Street4 Bed, 4.5 Bath Approx 3,466 ft2 ($6,170/ft2)

Most Expensive Sales

*CityRealty's Manhattan area market comprises the area south of 125th street on the West Side, and south of 96th street on the East Side.

**CityRealty’s September 2015 market report includes all public records data available through August 31, 2015 for deeds recorded the prior month.

AVERAGE SALES PRICE

$1.8 Million CONDOS AND CO-OPS

UNITS GROSS SALES

RESIDENTIAL SALES

1,076 $2.0B

CONDOS SOLD474

AVG PRICE

$2.4MAVG PRICE/FT2

$1,675AVERAGE PRICE

$1.3M

CO-OPS SOLD602

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32+11+24+16+17MONTHLY MARKET REPORT SEPTEMBER 2015

Manhattan Condo Sales Summary

Midtown$279M

24%

UpperEast Side $197M

17%

UpperWest Side

$181M

16%

Financial District / BPC$127M

11%

MIDTOWN30-DAY

PRICE AVG*SALES / PAST

30 DAYS

Midtown EastMidtown WestMurray HillTurtle Bay/United Nations

$1,699 / ft2 (+9%)$2,009 / ft2 (+23%) $1,478 / ft2 (-11%) $1,549 / ft2 (+2%)

19453617

DOWNTOWN30-DAY


30 DAYS

ChelseaEast VillageFlatiron/Union SquareGramercy ParkGreenwich VillageTribecaWest Village

$2,061 / ft2 (-9%) $1,718 / ft2 (-11%) $1,657 / ft2 (-10%)$1,768 / ft2 (+19%)$2,156 / ft2 (+11%)$2,225 / ft2 (+23%)$2,390 / ft2 (+38%)

2512796

259

UPPER WEST SIDE30-DAY


30 DAYS

Broadway CorridorCentral Park WestLincoln CenterRiverside Drive/West End Avenue

$1,663 / ft2 (-13%)$1,375 / ft2 (-25%)$1,456 / ft2 (-23%)$1,577 / ft2 (+2%)

31209

26

FINANCIAL DISTRICT / BPC30-DAY


30 DAYS

Battery Park CityFinancial District

$1,377 / ft2 (+15%) $1,332 / ft2 (-59%)

4238

UPPER EAST SIDE30-DAY


30 DAYS

Carnegie HillLenox HillYorkville

$2,163 / ft2 (+9%)$1,611 / ft2 (+1%)$1,241 / ft2 (-3%)

75024

2013 2014 201520122011

AV

G P

RIC

E / F

T2

$2,000

$1,800

$1,600

$1,400

$1,200

$1,000

$800

30-Day Total Sales by Region

Avg Price / Ft2 by Region

Downtown$371M

32%

Downtown was the highest grossing region in Manhattan, with $371 million in condominium sales. Midtown was the second highest grossing region, with $279 million in sales. Downtown had the highest price/ft2, $2,025, an increase over the prior month’s average, $1,962, and Midtown had the second highest price/ft2, $1,719.

KEY: UPPER WEST SIDE UPPER EAST SIDE MIDTOWN DOWNTOWN FINANCIAL DISTRICT/BPC

*Neighborhoods with less than 5 sales in the past 30 days are not included in the table. Percentage changes are calculated over the same period of the previous month.

**CityRealty’s September 2015 market report includes all public records data available through August 31, 2015 for deeds recorded the prior month.

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Total Transactions : 14

79 White Street, #2E

Straus Park, 272 West 107th Street, #3C

The Chelsea Mercantile, 252 Seventh Avenue, #3S

The East Side Townhouse, 250 East 31st Street, #2B

The Fitzgerald, 201 West 74th Street, #15B

Murray Hill Terrace, 201 East 36th Street, #7C

Liberty Court, 200 Rector Place, #33L

1724 Second Avenue, #6RS

Original Sale Year : 2006 Total Transactions : 17

Clinton West, 516 West 47th Street, #N4E

Liberty Lofts, 43 West 64th Street, #7B

Park West Village, 400 Central Park West, #10C

The Orion, 350 West 42nd Street, #27A

Three Ten, 310 East 53rd Street, #26B/C

Millennium Tower Residences, 30 West Street, #12G

3 Weehawken Street, #5A

Block Hall, 21 South William Street, #7A


South Star, 80 John Street, #10C

The Plaza, 768 Fifth Avenue, #1603

Atelier, 635 West 42nd Street, #17E

Manhattan Place, 630 First Avenue, #24K

Trump Park Avenue, 502 Park Avenue, #19F

Cielo, 450 East 83rd Street, #2C

Century Tower, 400 East 90th Street, #12C

The Revere, 400 East 54th Street, #12H


20 Pine Street, #1903

Riverhouse - 1 Rockefeller Park, 2 River Terrace, #15A

1600 Broadway, #14G

158 Franklin Street, #1A

Dorchester Towers, 155 West 68th Street, #18-33

Downtown by Starck, 15 Broad Street, #2002

147 Waverly Place, #8

133 West 22nd Street, #5L


Caledonia, 450 West 17th Street, #2302

425 Fifth Avenue, #45C

The A Building, 425 East 13th Street, #7H

Wellington Tower, 350 East 82nd Street, #6U

The Prime, 333 West 14th Street, #8

30 West 9th Street, #4

Trump Place, 220 Riverside Boulevard, #10A

211 East 3rd Street, #5R

BUILDING, UNIT

Aug 17, 2005 ($1,476,462)

Jan 11, 2005 ($1,303,360)

Aug 25, 2005 ($1,200,000)

Jun 15, 2005 ($804,000)

Jul 25, 2005 ($518,971)

Sep 13, 2005 ($1,225,000)

Sep 01, 2005 ($585,000)

Jun 03, 2005 ($500,000)

Jan 24, 2006 ($506,797)

Jan 25, 2006 ($3,150,000)

Jun 28, 2006 ($1,090,000)

Aug 03, 2006 ($855,330)

Nov 27, 2006 ($7,142,707)

Dec 26, 2006 ($997,885)

Nov 09, 2006 ($550,000)

May 03, 2006 ($505,986)

Jun 22, 2007 ($1,513,628)

Jun 21, 2007 ($9,997,168)

Mar 27, 2007 ($792,707)

Nov 02, 2007 ($1,030,000)

Nov 19, 2007 ($1,858,306)

May 10, 2007 ($997,885)

Jul 31, 2007 ($385,320)

Mar 27, 2007 ($520,000)

Jul 07, 2008 ($1,140,440)

Aug 18, 2008 ($1,731,025)

Jan 10, 2008 ($1,488,000)

May 07, 2008 ($500,000)

Apr 30, 2008 ($646,000)

Jul 25, 2008 ($975,000)

Mar 24, 2008 ($5,753,112)

Nov 25, 2008 ($814,600)

Sep 04, 2009 ($982,611)

Sep 03, 2009 ($600,000)

Oct 23, 2009 ($760,000)

Aug 12, 2009 ($950,000)

Jun 08, 2009 ($2,100,000)

Aug 13, 2009 ($955,000)

Oct 21, 2009 ($800,000)

Jan 07, 2009 ($1,299,000)

FIRST SALE

2,134ft²

1,669ft²

958ft²

1,000ft²

500ft²

1,200ft²

613ft²

540ft²

600ft²

2,331ft²

1,200ft²

741ft²

4,062ft²

1,190ft²

526ft²

457ft²

1,055ft²

1,967ft²

700ft²

1,000ft²

991ft²

902ft²

415ft²

560ft²

820ft²

1,524ft²

1,144ft²

945ft²

750ft²

1,051ft²

3,494ft²

634ft²

730ft²

524ft²

573ft²

1,130ft²

2,341ft²

939ft²

979ft²

1,332ft²

SQUARE FEET

+7.5%

+5.4%

+2.9%

+1.5%

+2.9%

+0.8%

+1.9%

+2.6%

+5.4%

+6.7%

+4.9%

+3.9%

+0.8%

+3.4%

+12.5%

+0.6%

+2.4%

+0.0%

+1.4%

+2.9%

+2.4%

+0.9%

+3.6%

+2.8%

-0.04%

+4.9%

+2.3%

+32.7%

+4.0%

+4.2%

+7.3%

+7.3%

+12.0%

+4.4%

+4.0%

+9.1%

+12.5%

+16.7%

+7.1%

+8.8%

COMPOUND ANNUAL

GROWTH RATE

$1,523,538 (+103.2%)

$971,640 (+74.5%)

$395,000 (+32.9%)

$131,000 (+16.3%)

$171,029 (+33.0%)

$100,000 (+8.2%)

$120,000 (+20.5%)

$145,000 (+29.0%)

$328,203 (+64.8%)

$2,650,000 (+84.1%)

$598,000 (+54.9%)

$344,670 (+40.3%)

$507,293 (+7.1%)

$327,115 (+32.8%)

$975,000 (+177.3%)

$29,014 (+5.7%)

$316,372 (+20.9%)

$2,832 (+0.0%)

$97,293 (+12.3%)

$245,000 (+23.8%)

$366,694 (+19.7%)

$72,115 (+7.2%)

$125,680 (+32.6%)

$133,000 (+25.6%)

-$440 (-0.04%)

$668,975 (+38.6%)

$277,000 (+18.6%)

$3,200,000 (+640.0%)

$209,000 (+32.4%)

$320,000 (+32.8%)

$3,896,888 (+67.7%)

$484,400 (+59.5%)

$917,389 (+93.4%)

$170,000 (+28.3%)

$190,000 (+25.0%)

$625,000 (+65.8%)

$2,200,000 (+104.8%)

$1,395,000 (+146.1%)

$380,000 (+47.5%)

$951,000 (+73.2%)

PRICE CHANGE

Jul 01, 2015 ($3,000,000)

Jul 17, 2015 ($2,275,000)

Jul 13, 2015 ($1,595,000)

Jul 20, 2015 ($935,000)

Jul 01, 2015 ($690,000)

Jul 10, 2015 ($1,325,000)

Jul 13, 2015 ($705,000)

Jul 22, 2015 ($645,000)

Jul 16, 2015 ($835,000)

Jul 02, 2015 ($5,800,000)

Jul 29, 2015 ($1,688,000)

Jul 01, 2015 ($1,200,000)

Jul 01, 2015 ($7,650,000)

Jul 21, 2015 ($1,325,000)

Jul 14, 2015 ($1,525,000)

Jul 17, 2015 ($535,000)

JJul 01, 2015 ($1,830,000)

Jul 06, 2015 ($10,000,000)

Jul 31, 2015 ($890,000)

Jul 01, 2015 ($1,275,000)

Jul 10, 2015 ($2,225,000)

Jul 10, 2015 ($1,070,000)

Jul 28, 2015 ($511,000)

Jul 24, 2015 ($653,000)

Jul 14, 2015 ($1,140,000)

Jul 17, 2015 ($2,400,000)

Jul 01, 2015 ($1,765,000)

Jul 02, 2015 ($3,700,000)

Jul 01, 2015 ($855,000)

Jul 16, 2015 ($1,295,000)

Jul 30, 2015 ($9,650,000)

Jul 15, 2015 ($1,299,000)

Jul 13, 2015 ($1,900,000)

Jul 31, 2015 ($770,000)

Jul 16, 2015 ($950,000)

Jul 02, 2015 ($1,575,000)

Jul 14, 2015 ($4,300,000)

Jul 10, 2015 ($2,350,000)

Jul 13, 2015 ($1,180,000)

Jul 29, 2015 ($2,250,000)

MOST RECENT SALE


Historical Performance : Selected ResalesOf the 474 condo sales in Manhattan, 184 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.

Original Sale Year : 2005

5


610 West 110th Street, #4D

535 West End Avenue, #7A

Riverwalk Court, 415 Main Street, #6-D

Lumiere, 350 West 53rd Street , #5J

Centurion, 33 West 56th Street, #5A

Louis Philippe Condo, 312 West 23rd Street, #2T

The Village Green, 311 East 11th Street, #PH1C

303 East 33rd Street, #8B


8 Greene Street, #6

610 West 110th Street, #7A

58 West 106th Street, #1B

555 West 23rd Street, #N4G

Centro 505, 505 West 47th Street, #PH5-S

Bridge Tower Place, 401 East 60th Street, #19A

The Lausanne, 333 East 45th Street, #21E

230 Riverside Drive, #6M


Element, 555 West 59th Street, #6H

"+Art", 540 West 28th Street, #8B

Carriage House, 510 East 80th Street, #14B

507 East 80th Street, #6R

Fifty Franklin, 50 Franklin Street, #4B

386 Columbus Avenue, #15A

The Lausanne, 333 East 45th Street, #9D

Onyx Chelsea, 261 West 28th Street, #8B


The Link, 310 West 52nd Street, #39A

250 West Street, #3D

Dag Hammarskjold Tower, 240 East 47th Street, #9D

Hudson Condo, 225 West 60th Street, #14D

The Charleston, 225 East 34th Street, #12C

Walker Tower, 212 West 18th Street, #14E

200 Chambers Street, #6N

Carnegie Plaza, 162 West 56th Street, #706


7 East 17th Street, #3S

The Belaire, 524 East 72nd Street, #33F

Hudson Condo, 225 West 60th Street, #11D

The Jefferson, 211 East 13th Street, #1E

Block Hall, 21 South William Street, #5A

160 East 22nd Street, #20A

Philip House, 141 East 88th street, #10C

BUILDING, UNIT

Feb 08, 2010 ($1,180,000)

Dec 14, 2010 ($8,700,000)

May 11, 2010 ($534,836)

Dec 16, 2010 ($1,025,000)

May 06, 2010 ($2,443,800)

May 13, 2010 ($412,500)

Jun 18, 2010 ($1,965,000)

Dec 14, 2010 ($640,988)

Mar 31, 2011 ($1,550,000)

May 10, 2011 ($610,950)

Apr 20, 2011 ($522,000)

Dec 13, 2011 ($506,000)

Feb 03, 2011 ($2,275,000)

Jun 08, 2011 ($1,800,000)

Jul 26, 2011 ($615,000)

May 19, 2011 ($405,000)

Oct 30, 2012 ($875,000)

Aug 10, 2012 ($965,803)

Sep 12, 2012 ($1,175,000)

May 04, 2012 ($660,000)

Jun 14, 2012 ($615,000)

Feb 17, 2012 ($1,862,500)

Jul 17, 2012 ($595,000)

Nov 12, 2012 ($1,600,000)

Nov 04, 2013 ($1,526,000)

May 14, 2013 ($5,142,163)

Aug 22, 2013 ($1,205,000)

Nov 26, 2013 ($932,000)

Dec 16, 2013 ($1,450,000)

Dec 06, 2013 ($6,975,013)

May 10, 2013 ($925,000)

Mar 31, 2013 ($650,000)

Jun 30, 2014 ($3,300,000)

Feb 11, 2014 ($575,000)

Feb 28, 2014 ($920,000)

Sep 30, 2014 ($969,338)

Feb 20, 2014 ($673,800)

Dec 16, 2014 ($3,054,740)

Jul 17, 2014 ($9,039,037)

FIRST SALE

1,157ft²

4,396ft²

885ft²

1,050ft²

1,198ft²

300ft²

1,216ft²

596ft²

1,700ft²

1,452ft²

1,215ft²

508ft²

1,450ft²

1,569ft²

552ft²

403ft²

773ft²

1,181ft²

1,220ft²

897ft²

604ft²

1,200ft²

564ft²

1,265ft²

787ft²

2,505ft²

1,074ft²

612ft²

1,248ft²

1,985ft²

625ft²

800ft²

2,678ft²

471ft²

612ft²

641ft²

674ft²

1,206ft²

3,847ft²

SQUARE FEET

+5.4%

+7.6%

+9.0%

+10.1%

-0.3%

+3.8%

+8.1%

+6.0%

+16.2%

+28.3%

+22.0%

+11.6%

+4.8%

+4.7%

+6.1%

+8.0%

+4.3%

+27.6%

+11.9%

+6.3%

+10.4%

+3.7%

+7.2%

+18.5%

+0.9%

+7.4%

+7.9%

+4.2%

+17.6%

+19.5%

+21.1%

+14.0%

+6.8%

+6.5%

+8.4%

+55.5%

+10.4%

+14.2%

+6.8%

$385,000 (+32.6%)

$3,450,000 (+39.7%)

$300,164 (+56.1%)

$555,000 (+54.1%)

-$43,800 (-1.8%)

$87,000 (+21.1%)

$935,000 (+47.6%)

$197,512 (+30.8%)

$1,385,000 (+89.4%)

$1,114,050 (+182.3%)

$673,000 (+128.9%)

$244,000 (+48.2%)

$520,737 (+22.9%)

$375,000 (+20.8%)

$160,000 (+26.0%)

$150,000 (+37.0%)

$105,000 (+12.0%)

$959,197 (+99.3%)

$426,000 (+36.3%)

$140,000 (+21.2%)

$220,000 (+35.8%)

$237,500 (+12.8%)

$134,000 (+22.5%)

$880,000 (+55.0%)

$24,000 (+1.6%)

$857,837 (+16.7%)

$180,000 (+14.9%)

$63,000 (+6.8%)

$400,000 (+27.6%)

$2,274,987 (+32.6%)

$475,000 (+51.4%)

$222,500 (+34.2%)

$225,000 (+6.8%)

$50,000 (+8.7%)

$105,000 (+11.4%)

$380,662 (+39.3%)

$101,200 (+15.0%)

$245,260 (+8.0%)

$560,963 (+6.2%)

PRICE CHANGE

Jul 24, 2015 ($1,565,000)

Jul 23, 2015 ($12,150,000)

Jul 13, 2015 ($835,000)

Jul 15, 2015 ($1,580,000)

Jul 06, 2015 ($2,400,000)

Jul 02, 2015 ($499,500)

Jul 10, 2015 ($2,900,000)

Jul 15, 2015 ($838,500)

Jul 01, 2015 ($2,935,000)

Jul 15, 2015 ($1,725,000)

Jul 01, 2015 ($1,195,000)

Jul 21, 2015 ($750,000)

Jul 15, 2015 ($2,795,737)

Jul 14, 2015 ($2,175,000)

Jul 09, 2015 ($775,000)

Jul 07, 2015 ($555,000)

Jul 28, 2015 ($980,000)

Jul 07, 2015 ($1,925,000)

Jul 01, 2015 ($1,601,000)

Jul 21, 2015 ($800,000)

Jul 21, 2015 ($835,000)

Jul 09, 2015 ($2,100,000)

Jul 08, 2015 ($729,000)

Jul 08, 2015 ($2,480,000)

Jul 21, 2015 ($1,550,000)

Jul 14, 2015 ($6,000,000)

Jul 10, 2015 ($1,385,000)

Jul 24, 2015 ($995,000)

Jul 09, 2015 ($1,850,000)

Jul 30, 2015 ($9,250,000)

Jul 29, 2015 ($1,400,000)

Jul 15, 2015 ($872,500)

Jul 20, 2015 ($3,525,000)

Jul 02, 2015 ($625,000)

Jul 15, 2015 ($1,025,000)

Jul 02, 2015 ($1,350,000)

Jul 24, 2015 ($775,000)

Jul 31, 2015 ($3,300,000)

Jul 09, 2015 ($9,600,000)

MOST RECENT SALE


Selected Resales, Cont.COMPOUND

ANNUAL GROWTH RATE

6

Apple Bank Building, #7/8ET2112 Broadway

250 West Street, #3D

The Lucida, #17J151 East 85th Street

$6.0M +7.4%ANNUAL GROWTH RATE (2YRS)*

$6.0M

$5.5M +$857,837AGGREGATE PRICE CHANGE

CLOSING HISTORY:Jul 14, 2015 • $6,000,000

May 14, 2013 • $5,142,163

+4.3%ANNUAL GROWTH RATE (5YRS)*

$8.0M

$6.0M +$1,369,607AGGREGATE PRICE CHANGE


Jun 21, 2010 • $5,880,393

$7.3M

+3.8%ANNUAL GROWTH RATE (8YRS)*

$8.0M



Aug 07, 2007 • $5,600,000

40 Bond Street, #6C $7.6M


Historical Performance : Featured Resales

*The annual growth rate compares the first sale to the most recent sale.

$5.5M +2.1%ANNUAL GROWTH RATE (7YRS)*

$6.0M

$5.0M +$758,000AGGREGATE PRICE CHANGE


May 14, 2008 • $4,700,000

The Brompton, #10CD205 East 85th Street $4.8M +4.0%

ANNUAL GROWTH RATE (6YRS)*

$5.0M



Apr 17, 2009 • $3,758,825

2003 1514131211100908070604 05

2003 1514131211100908070604 05

2003 1514131211100908070604 05

2003 1514131211100908070604 05

2003 1514131211100908070604 05

7


Notable New Listings in NYC

$60.0M The Baccarat, #PHApprox 7,381 ft2

5 Bed, 5.5 Bath

This 5,840-square-foot, six-bedroom duplex comes with over 3,000 square feet of private landscaped terraces. The corner master bedroom suite features 25 feet of frontage overlooking the Hudson River, dual walk-in closets and an en-suite bathroom.

$44.0M 150 Charles Street, #9AApprox 5,840 ft2

6+ Bed, 6+ Bath

This 5,317-square-foot duplex on the fourth and fifth floors of a prewar condo features 5 bedrooms, 6 full baths, library, den, and a large eat-in kitchen with direct views of Central Park.

$36.5M 15 Central Park West, #38AApprox 2,846 ft2

3 Bed, 3.5 Bath

This 5,317-square-foot duplex on the fourth and fifth floors of a prewar condo features 5 bedrooms, 6 full baths, library, den, and a large eat-in kitchen with direct views of Central Park.

$7.99M 455 Central Park West, #LM17Approx 5,317 ft2

5 Bed, 6+ Bath

This 5,000-square-foot, two-level penthouse is located on the top two floors of the new Williamsburg condo Oosten. The unit has en-suite baths, river, bridge and Manhattan views, a plunge pool, and a private elevator that takes the resident to their own private garage.

$6.4M The Oosten, #PH5Approx 5,086 ft2

6+ Bed, 6+ Bath

This five-bedroom, duplex penthouse in the Baccarat boasts 7,281 square feet of interior space and 600 square feet of loggia. The master suite measures over 1,000 square feet, and there are four additional suites as well as a study.

8


Snapshot

Cookbook author and New York Times scribe

Mark Bittman sold his Upper West Side co-op

at 17 West 71st Street for $1.8 million. Bittman and his wife bought the two-bedroom apartment for

$999,999 in 2009.

Soccer star Cristiano Ronaldo bought an $18.5 million apartment at the Trump Tower from Italian real estate mogul Alessandro Proto. The 2,509-square-foot condo has three bedrooms and a corner location that offers panoramic views of Central Park, the Empire State Building, One World Trade Center and the Hudson River.

Superstar tennis sisters Venus and Serena Williams sold their Midtown West apartment at 28 West 38th Street for $2.1 million. The sisters purchased the 1,800-square-foot unit for $1.4 million in 2005.

I was starting to feel very claustrophobic

in New York. I was tired of apartment

living, and I didn’t want my comings and

goings to be noted by a doorman.”

–Singer Jessica Molaskey on her move from the Upper East Side to an Upper West Side brownstone.

-The New York Times

Alessandra and Allegra Gucci, the great-granddaughters of Guccio

Gucci, who founded the eponymous world-famous fashion label, have

listed their 9,450-square-foot, eight-bedroom penthouse in Midtown

East’s Olympic Tower for $45 million. The duplex is on the building’s 50th

and 51st floors.

9

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 [email protected]

or by phone at 212-209-8809.

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.

Visit us at www.cityrealty.com for more sales information.

Documents

CITYREALTY MONTHLY MARKET - New York Real Estate Newstherealdeal.com/.../09/CityRealty_Monthly_Market... · as well as in-depth analysis of the New York real estate market. Sales