Photo of One57's unit #77, a 4-bedroom listed for $49 million (Compass)
Prices in high-rise Manhattan condos — while still among the priciest in the city — have fallen over the last 12 months, according to CityRealty’s High-Rise Condos Index.
The index, which tracks closing sale prices in Manhattan buildings with 50 or more floors, shows the average price per ft² in 35 sky-high buildings at $2,431 per ft² over the last 12 months, lower than in the same year-long periods in 2017, 2016, and 2015. The average price per ft² in 2017 was $2,689; the year-over-year decline is 10%. Prices were also higher in 2016 when the average price per ft² was $2,500, and in 2014, when it was $2,530. However, prices in the last several months have begun to inch back up.
The index, which tracks closing sale prices in Manhattan buildings with 50 or more floors, shows the average price per ft² in 35 sky-high buildings at $2,431 per ft² over the last 12 months, lower than in the same year-long periods in 2017, 2016, and 2015. The average price per ft² in 2017 was $2,689; the year-over-year decline is 10%. Prices were also higher in 2016 when the average price per ft² was $2,500, and in 2014, when it was $2,530. However, prices in the last several months have begun to inch back up.
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Several of the sky-high new developments built in recent years are included in the index, including 432 Park Avenue, One57, and the Baccarat Hotel & Residences. The building on the index with the highest closing prices over the past year is 432 Park Avenue, where the average price/ft2 has been $5,798.
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Capture of heat map representing buildings in the High-Rise Condo Index where apartments are currently for sale. Visit index link for full interactive map.
A number of super-tall — and super-expensive — condos are under construction and poised to start closing within the next couple of years, including Extell’s Central Park Tower and JDS’s 111 West 57th Street.
Check out the full High-Rise Condos Index here.
Check out the full High-Rise Condos Index here.
Central Park view from One57's unit #77 (Compass)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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