Condo prices up in the boroughs: Fourth quarter 2011 reports by the Real Estate Board of New York show Brooklyn and Queens having significant year-over-year increases in average condo sale prices–eleven and six percent, respectively. One reason for the uptick is that new luxury apartment buildings with amenities--like Northside Piers in Williamsburg (shown)--are able to command a premium, and make up a significant portion of the market in those boroughs. Luxury buildings sold at a brisk pace during the quarter. Williamsburg led Brooklyn, with prices increasing by 25% (REW-online).

Neighborhood parks and perks: Designs for a beachy new riverfront park planned for the Lower East Side include green space and river access. The last in a chain of new parks that link their way around Lower Manhattan, the park has received $16 million in funding and is expected to add even more steam to the increasingly successful revitalization of Manhattan’s downtown waterfront areas. Work on the new “beach” between the Manhattan and Williamsburg bridges is expected to begin in June of 2012 (NYPost).

Record-breaker: The most expensive NYC co-op history just hit the market. The 12,000-square-foot (not including the outdoor space, of which there is plenty) penthouse belongs to songwriter Denise Rich, who hopes to get $65 million for her 20-room home at 785 Fifth Avenue at East 60th Street. If it sells at–or even near–that price, it would best Rupert Murdoch’s record-holding (for a co-op) $44 million 2005 purchase of a penthouse just up the avenue at 834 Fifth by nearly 50 percent (NYObserver).

Apartment selling tip: March is the best month to list your home, according to a recent Matrix article by real estate appraiser and consultant Jonathan J. Miller.