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.
In this article:
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.
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%)
Townhouse-Condo | 5 Bed, 5 Bath | 10,088 ft2
Whitney Condos, 33 East 74th Street, TH (via Douglas Elliman)
Condo | 1 Bed, 2 Bath | 850 ft2
Gallery Apartments via The Corcoran Group
Condo | 5 Bed, 7.5 Bath | 7,241 ft2
The Modlin Group
Condo | 2 Bed, 1 Bath
200 Bowery via Compass
Condo | 6 Bed, 6.5 Bath | 9,607 ft2
Condo | 1 Bed, 1 Bath
3 Weehawken Street via Compass
Condo | 4 Bed, 4.5 Bath | 6,325 ft2
Condo | 2 Bed, 2.5 Bath | 1,350 ft2
Morton Square via Compass
Condo | 4 Bed, 5 Bath | 3,711 ft2
The Grand Millennium, #PH2B (Corcoran)
Condo | 1 Bed, 1 Bath | 800 ft2
10 West End Avenue via The Corcoran Group
Condo | 4 Bed, 3.5 Bath | 4,506 ft2
The Carl Fischer Building, #PH52 (Douglas Elliman)
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Condo | 1 Bed, 2 Bath | 1,200 ft2
The Silk Building via Compass
Condo | 4 Bed, 4 Bath | 7,973 ft2
Condo | Studio, 1 Bath | 372 ft2
Worldwide Plaza via The Corcoran Group
Condo | 4 Bed, 6+ Bath | 8,000 ft2
Condo | Studio, 1 Bath | 570 ft2
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%)
Condo | 4 Bed, 5.5 Bath | 5,302 ft2
One West End, #29B Cantor-Pecorella
Condo | 1 Bed, 1 Bath | 663 ft2
200 Riverside Boulevard via Nest Seekers
10) Flatiron/Union Square | Avg. condo ppsf: $1,921 (-3%)
41 sales (-13%) | Avg. price: $3.6M (+33%)
Condo | 3 Bed, 4.5 Bath | 3,711 ft2
240 Park Avenue South, #Penthouse (Sotheby's)
Condo | 1 Bed, 1 Bath | 670 ft2
Zeckendorf Towers via Compass
Condo | 5 Bed, 6+ Bath | 8,500 ft2
Time Warner Center, #PH80 (Corcoran)
Condo | 1 Bed, 1 Bath
Towers on the Park I via Keller Williams
Condo | 3 Bed, 3.5 Bath | 2,347 ft2
One Manhattan Square (Extell Development Company)
Condo | 1 Bed, 1 Bath
101 Allen Street via 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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