CityRealty's July 2017 market report includes all public records data available through June 30, 2017 for deeds recorded the prior month
CityRealty's monthly rundown of the Manhattan residential real estate market.
The average sales price of a Manhattan apartment dipped in the four weeks leading up to June 1, while the number of sales rose. The average price for an apartment—taking into account both condo and co-op sales—was $2.2 million, down from $2.3 million the prior month. The number of recorded sales, 1,084, represented a big increase from the 807 recorded in the preceding month.
The average price of a condo was $3.1 million and the average price of a co-op was $1.4 million. There were 504 condo sales and 580 co-op sales.
30-Day Total Sales by Region
Downtown was the highest-grossing region in Manhattan, with $619 million in condominium sales. Midtown was the second highest-grossing area, with $306 million in sales. Downtown also had the highest price/ft2, $2,055/ft2, while Midtown had the second-highest at $1,809/ft2.New Developments vs All Other Condos:
New development condo prices averaged $2,330/ft2 this month, compared to $1,717/ft2 for non-new development condominium sales. The average price, $4.7 million, was down this month from $5.7 million the prior month. There were 156 new development sales this month, compared to 133 in the prior month. The price/ft2 of new apartments was 4% higher than it was a year ago, when it was $2,246/ft2, but 7% less than it was last month, when it was $2,482/ft2. The aggregate sales total of new developments was $752 million.
NOTABLE NEW BUILDINGS:
45 PARK PLACE
265 EAST HOUSTON STREET
THE VANTAGE, 308 EAST 38TH STREET
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