JANUARY 2016 MONTHLY MARKET REPORT SALES SUMMARY .......................... 2 HISTORIAL PERFORMANCE ......... 4 NOTABLE NEW LISTINGS ............. 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. MONTHLY MARKET REPORT JANUARY 2016 Summary MOST EXPENSIVE SALES 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 $45.0M 15 Central Park West, #1819B $2.2 Million 4 beds, 6+ baths Approx. 5,610 ft2 ($8,021/ft2) 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. RESIDENTIAL SALES 862 $1.86B UNITS GROSS SALES The top three sales this month were in the two most expensive condominiums constructed in New York City in the past decade: 15 Central Park West and One57. $35.0M The most expensive sale was unit 1819B in 15 Central Park West, a 5,610-square-foot, four- 15 Central Park West, #8A bedroom condo that sold for $45 million. The second most expensive sale was also in 15 4 beds, 5.5 baths Central Park West—unit 8A, a four-bedroom, 4,565-square-foot condo, sold for $35 million. Approx. 4,565 ft2 ($7,667/ft2) 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. 467 395 $34.4M CONDOS SOLD CO-OPS SOLD One57, #54B AVG PRICE AVG PRICE/FT2 AVERAGE PRICE th $2.9M $1,845 157 West 57 Street $1.3M 5 Beds, 5.5 baths Approx. 5,475 ft2 ($6,278/ft2) *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. 2 **CityRealty’s January 2016 market report includes all public records data available through December 31, 2015 for deeds recorded the prior month. MONTHLY MARKET REPORT JANUARY 2016 Manhattan Condo Sales Summary 30-DAY SALES / PAST 30-Day Total Sales by Region DOWNTOWN PRICE AVG* 30 DAYS Chelsea $1,913 / ft2 (+20.7%) 19 Flatiron / Union Square $2,455 / ft2 (+13.5%) 22 12% Greenwich Village $2,659 / ft2 (-13.9%) 8 Upper East Side SOHO $1,934 / ft2 (-0.3) 5 $168M Tribeca $2,224 / ft2 (+19.2%) 11 31% West Village $2,575 / ft2 (+6.8%) 16 Downtown $429M 30-DAY SALES / PAST FINANCIAL DISTRICT / BCP PRICE AVG* 30 DAYS Battery Park City $1,544 / ft2 (-1.3%) 15 Financial District $1,390 / ft2 (+12.0%) 23 31% 30-DAY SALES / PAST Upper MIDTOWN PRICE AVG* 30 DAYS West Side $427M Midtown East $2,017 / ft2 (+36.7%) 23 Midtown West $1,887 / ft2 (+11.0%) 58 5% Murray Hill $1,516 / ft2 (+5.1%) 20 Financial District 2 / BPC Turtle Bay / United Nations $1,397 / ft (+1.3%) 16 $62M 30-DAY SALES / PAST 21% UPPER EAST SIDE PRICE AVG* 30 DAYS Midtown $279M Carnegie Hill $1,537 / ft2 (-2.4%) 26 31+521+3112 2 Lenox Hill $1,634 / ft (-27.4%) 14 Park/Fifth Ave. to 79th St. $3,189 / ft2 (+35.5%) 5 Downtown was the highest-grossing region in Manhattan, with Yorkville $1,355 / ft2 (-13.8%) 33 $429 million in condominium sales. The Upper West Side was 30-DAY SALES / PAST the second highest-grossing area, with $427 million in sales. UPPER WEST SIDE PRICE AVG* 30 DAYS 2 2 Downtown also had the highest price/ft , $2,268/ft , and the Broadway Corridor $1,451 / ft2 (-4.1%) 43 Upper West Side the second-highest, $1,872/ft2. Central Park West $2,885 / ft2 (+31.0%) 19 Lincoln Center $1,847 / ft2 (-0.3%) 7 Riverside Dr. / West End Ave. $1,866 / ft2 (+11.9%) 63 Avg Price / Ft2 by Region $2,000 $1,800 2 $1,600 FT / / $1,400 PRICE $1,200 VG VG A $1,000 $800 2011 2012 2013 2014 2015 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. 3 **CityRealty’s January 2016 market report includes all public records data available through December 31, 2015 for deeds recorded the prior month. MONTHLY MARKET REPORT JANUARY 2016 Historical Performance: Selected Resales Of the 467 condo sales in Manhattan, 135 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. COMPOUND SQUARE MOST RECENT PRICE ANNUAL BUILDING, UNIT FEET FIRST SALE SALE CHANGE GROWTH RATE Original Sale Year : 2005 Total Transactions : 15 56 Pine Street, #8B 706ft² Dec 14, 2005 ($410,670) Nov 03, 2015 ($740,000) $329,330 (+80.2%) 6.2% 555 West 23rd Street, #S9L 1079ft² Dec 14, 2005 ($1,349,181) Nov 24, 2015 ($1,925,000) $575,819 (+42.7%) 3.6% The Chatham in Chelsea, 445 West 19th Street, #8H 500ft² Jun 14, 2005 ($540,000) Nov 10, 2015 ($780,000) $240,000 (+44.4%) 3.6% The Kingsley, 400 East 70th Street, #1506 767ft² Jan 21, 2005 ($599,000) Nov 13, 2015 ($860,000) $261,000 (+43.6%) 3.4% 30 West 86th Street, #4A 2000ft² Dec 21, 2005 ($2,800,000) Nov 04, 2015 ($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 09, 2015 ($1,345,000) $420,174 (+45.4%) 3.8% 160 Wooster Street, #5A 2404ft² Feb 08, 2005 ($2,571,081) Nov 12, 2015 ($5,435,625) $2,864,544 (+111.4%) 7.2% One Beacon Court, 151 East 58th Street, #41B 1757ft² Apr 29, 2005 ($3,105,662) Nov 20, 2015 ($6,550,000) $3,444,338 (+110.9%) 7.4% 2006:Original 22 resales Sale Year : 2006 Total Transactions : 22 Olympic Tower, 641 Fifth Avenue, #26B 1238ft² Jun 29, 2006 ($1,600,000) Nov 13, 2015 ($2,647,450) $1,047,450 (+65.5%) 5.5% Riverwalk Place, 455 Main Street, #3N 952ft² Jan 25, 2006 ($641,497) Nov 04, 2015 ($960,000) $318,503 (+49.6%) 4.2% Cielo, 450 East 83rd Street, #11E 1618ft² Jun 22, 2006 ($1,654,656) Nov 06, 2015 ($2,230,000) $575,344 (+34.8%) 3.2% Fifth Avenue Tower, 445 Fifth Avenue, #15H 650ft² Nov 20, 2006 ($635,300) Nov 12, 2015 ($870,000) $234,700 (+36.9%) 3.6% The Rambusch Building, 40 West 13th Street, #R6 2860ft² Feb 17, 2006 ($3,025,000) Nov 03, 2015 ($4,800,000) $1,775,000 (+58.7%) 4.9% 345 West 13th Street, #1A 1800ft² Dec 15, 2006 ($1,687,500) Nov 03, 2015 ($2,447,500) $760,000 (+45.0%) 4.3% Urban Glass House, 330 Spring Street, #9B 1894ft² Dec 04, 2006 ($3,767,525) Nov 10, 2015 ($3,800,000) $32,475 (+0.9%) 0.1% 325 Fifth Avenue, #20H 1198ft² Dec 04, 2006 ($1,634,291) Nov 03, 2015 ($2,275,000) $640,709 (+39.2%) 3.8% Original Sale Year : 2007 Total Transactions : 20 The Link, 310 West 52nd Street, #9B 678ft² May 08, 2007 ($751,500) Oct 21, 2015 ($850,000) $98,500 (+13.1%) 1.5% The Delegate, 301 East 45th Street, #5C 330ft² Jan 11, 2007 ($390,000) Oct 02, 2015 ($478,000) $88,000 (+22.6%) 2.4% Millennium Tower Residences, 30 West Street, #2F 525ft² Oct 31, 2007 ($405,000) Oct 22, 2015 ($495,000) $90,000 (+22.2%) 2.6% 237 East 88th Street, #303 768ft² Apr 03, 2007 ($920,000) Oct 20, 2015 ($1,325,000) $405,000 (+44.0%) 4.4% Princeton House, 215 West 95th Street, #16C 611ft² Mar 16, 2007 ($449,498) Oct 30, 2015 ($776,000) $326,502 (+72.6%) 6.6% The Ansonia, 2109 Broadway, #42352 1331ft² Jul 18, 2007 ($1,682,912) Oct 08, 2015 ($2,725,000) $1,042,088 (+61.9%) 6.1% 184 Thompson Street, #6P 608ft² Oct 12, 2007 ($640,000) Oct 07, 2015 ($819,000) $179,000 (+28.0%) 3.2% The Centria, 18 West 48th Street, #20D 1245ft² Oct 19, 2007 ($1,318,633) Oct 01, 2015 ($1,700,000) $381,367 (+28.9%) 3.3% Original Sale Year : 2008 Total Transactions : 23 Atelier, 635 West 42nd Street, #9L 633ft² Jul 23, 2008 ($725,000) Nov 09, 2015 ($840,000) $115,000 (+15.9%) 2.1% 610 West 110th Street, #12E 1017ft² Sep 11, 2008 ($1,282,995) Nov 24, 2015 ($1,635,000) $352,005 (+27.4%) 3.4% 59 West 12th Street, #6G 900ft² Jul 31, 2008 ($1,220,000) Nov 25, 2015 ($1,565,000) $345,000 (+28.3%) 3.5% 425 Fifth Avenue, #48C 530ft² Apr 29, 2008 ($775,000) Nov 13, 2015 ($795,500) $20,500 (+2.6%) 0.3% Park West Village, 400 Central Park West, #19G 545ft² Sep 15, 2008 ($585,000) Nov 20, 2015 ($780,000) $195,000 (+33.3%) 4.1% Wellington Tower, 350 East 82nd Street, #3K 718ft² Apr 30, 2008 ($707,683) Nov 10, 2015 ($775,000) $67,317 (+9.5%) 1.2% The Continental, 321 East 48th Street, #12A 960ft² Jun 02, 2008 ($880,000) Nov 17, 2015 ($1,109,500) $229,500 (+26.1%) 3.2% 30 East 85th Street, #5D 750ft² Jan 18, 2008 ($917,000) Nov 24, 2015 ($1,735,000) $818,000 (+89.2%) 8.5% Original Sale Year : 2009 Total Transactions : 14 Millennium Tower Residences, 30 West Street, #29C 1168ft² Feb 09, 2009 ($1,629,200) Oct 28, 2015 ($2,085,500) $456,300 (+28.0%) 3.8% Princeton House, 215 West 95th Street, #14G 1546ft² Nov 30, 2009 ($1,475,000) Oct 30, 2015 ($2,100,000) $625,000 (+42.4%) 6.2% 200 West End Avenue, #21A 1328ft² Mar 26, 2009 ($1,575,000) Oct 28, 2015 ($2,375,000) $800,000 (+50.8%) 6.4% The Monarch, 200 East 89th Street, #28C 612ft² Sep 10, 2009 ($487,000) Oct 22, 2015 ($650,000) $163,000 (+33.5%) 4.9% 20 Pine Street, #2405 1158ft² Jul 03, 2009 ($875,000) Oct 29, 2015 ($1,425,000) $550,000 (+62.9%) 8.1% Evans Tower, 171 East 84th Street, #17E 750ft² Dec 28, 2009 ($825,000) Oct 08, 2015 ($1,375,000) $550,000 (+66.7%) 9.3% District, 111 Fulton Street, #320 684ft² Sep 24, 2009 ($701,000) Oct 02, 2015 ($775,000) $74,000 (+10.6%) 1.7% 100 West Condos, 100 West 93rd Street, #5K 1805ft² Dec 18, 2009 ($2,700,000) Oct 22, 2015 ($3,855,000) $1,155,000 (+42.8%) 6.3% 4 MONTHLY MARKET REPORT JANUARY 2016 Selected Resales, Cont.