HABITAT
The Average Manhattan Condo Now Costs Almost $3 Million
For the second quarter in a row, average condo sales prices Manhattan have broken records. The average sales price reached $2.9 million in the first three months of this year, according to new data from CityRealty, a sharp jump from the previous quarter’s record of $2.5 million.
Soon, according to unconfirmed reports, the Department of Transportation is going to start paving the streets of Manhattan with 14-karat gold.
The push to record numbers was driven by sales on the high end, with nearly one-quarter of all condo sales in the first quarter at or above $10 million. New luxury developments, including 432 Park Avenue and 150 Charles Street, did a lot of the lifting that drove average prices into the ionosphere.
Aggregate sales also broke records in the first quarter – rising to $4.59 billion, from $4.57 billion in the last quarter of 2015.
How do you spell b-u-b-b-l-e?
Board Talk
Engage, enrage, ask questions and give answers with your community of board members. Submit your questions and comments here!
Habitat Week by Week
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
Ask the Experts
learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
Subscribe
join nowGot elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!