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15 Central Park West, PH41 via Douglas Elliman 15 Central Park West, PH41 via Douglas Elliman
Between the COVID-19 pandemic, the economic fallout of the efforts to contain it, and historically low interest rates, it is hard to say what effect this will have on the New York real estate market. On the one hand, rumblings of a recession and the cancellation of traditional showings may deter some from making big-ticket purchases. At the same time, virtual and video showings are getting more elaborate and personalized every day, some buyers see New York real estate as a safer investment than some banks, and still others are eager to lock in said interest rates.
According to CityRealty's Q1 Residential Market Report, Manhattan sales prices have dipped 10% when compared year-over-year to Q1 2019. While we can't say what the future holds, we can say with certainty which neighborhoods were the most expensive of the first quarter of 2020. With the quarter ending at the end of March, the full effects of the citywide shut down beginning on March 15 are not apparent. All figures reflect condo sales closed in the first quarter of 2020, and the list is ranked by price per square foot (PPSF). The PPSF, total number of condo transactions in the quarter, and the average condo price figures are compared year-over-year to the first quarter of 2019.

The stats below are coupled with each neighborhood's premier condo listing along with its most affordable condo listing. We wanted to show that there are attainable and attractive homes to be found even in the most expensive parts of New York City. The listings are paired with local scenes we look forward to enjoying again.

1) Gold Coast, Upper East Side | Avg. Condo PPSF: $3,058 (-32%)

5 sales (-58%) | Avg. Price: $13M (-20%)

Whitney Condos, 33 East 74th Street, TH Whitney Condos, 33 East 74th Street, TH (via Douglas Elliman)

32-East-76th-Street-01 Gallery Apartments via The Corcoran Group

2) Nolita/Little Italy | Avg. condo PPSF: $2,460 (+50%)

21 sales (+163%) | Avg. price: $3.1M (-5%)

Puck Penthouses The Modlin Group

↓ 200 Bowery, #2D – $1.05M

Condo | 2 Bed, 1 Bath
200-Bowery-01 200 Bowery via Compass

3) West Village | Avg. condo PPSF: $2,418 (-2%)

17 sales (+42%) | Avg. price: $5.7M (-1%)

165 Charles Street, #TRIPLEX (Brown Harris Stevens)

3-Weehawken-Street-01 3 Weehawken Street via Compass

4) Greenwich Village | Avg. condo PPSF: $2,402 (+14%)

20 sales (+18%) | Avg. price: $4.4M (+42%)

37 East 12th Street, #PH (Compass)

1-Morton-Square-01 Morton Square via Compass

5) Lincoln Center | Avg. condo PPSF: $2,320 (+20%)

45 sales (+181%) | Avg. price: $2.5M (+41%)

The Grand Millennium, 1965 Broadway, #PH2B The Grand Millennium, #PH2B (Corcoran)

10-West-End-Avenue-01 10 West End Avenue via The Corcoran Group

6) Noho | Avg. condo PPSF: $2,218 (+61%)

3 sales (-40%) | Avg. price: $5.3M (+103%)

The Carl Fischer Building, 62 Cooper Square, #PH52 The Carl Fischer Building, #PH52 (Douglas Elliman)

14-East-4th-Street-01 The Silk Building via Compass

7) Midtown West | Avg. condo ppsf: $2,203 (-7%)

124 sales (-16%) | Avg. price: $4.3M (-18%)

53W53, 53 West 53rd Street, #PH76 (Corcoran)

393-West-49th-Street-01 Worldwide Plaza via The Corcoran Group

8) Soho | Avg. condo ppsf: $1,935 (-4%)

28 sales (+22%) | Avg. price: $2.6M (-49%)

77-Charlton-Street-01 77 Charlton Street via Toll Brothers Real Estate

9) Riverside Drive/West End Avenue | Avg. condo PPSF: $1,933 (+7%)

60 sales (+15%) | Avg. price: $3M (-8%)

One West End, #29B Cantor-Pecorella One West End, #29B Cantor-Pecorella

200-Riverside-Boulevard-01 200 Riverside Boulevard via Nest Seekers

10) Flatiron/Union Square | Avg. condo ppsf: $1,921 (-3%)

41 sales (-13%) | Avg. price: $3.6M (+33%)

240 Park Avenue South, #Penthouse 240 Park Avenue South, #Penthouse (Sotheby's)

1-Irving-Place-01 Zeckendorf Towers via Compass

11) Central Park West | Avg. condo PPSF: $1,894 (-13%)

30 sales (+20%) | Avg. price: $3.3M (-16%)

Time Warner Center, 25 Columbus Circle, #PH80 Time Warner Center, #PH80 (Corcoran)

300-West-110th-Street-01 Towers on the Park I via Keller Williams

12) Lower East Side | Avg. condo ppsf: $1,807 (-4%)

35 sales (-30%) | Avg. price: $1.6M (-9%)

One Manhattan Square One Manhattan Square (Extell Development Company)

101-Allen-Street-01 101 Allen Street via Compass

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