August Monthly Market Report

CityRealty's August 2018 market report includes all public records data available through July 31, 2018 for deeds recorded the prior month.

Wednesday, Aug 1, 2018 By CityRealty Staff, CityRealty contributor

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The Highlights:

The average sales price in Manhattan fell in the four weeks leading up to July 1, while the number of recorded sales rose slightly. The average sales price for all units, including co-ops and condos, was $1.9 million, down from $2.2 million in the prior month. The number of recorded sales, 957, was up from the 923 recorded the preceding month.

The average price of a condo was $2.5 million and the average price of a co-op was $1.5 million.There were 408 condo sales and 549 co-op sales.

The number of residential sales was up in the four weeks leading up to July 1, while the aggregate sales total, $1.8 billion, was down from the $2.0 billion sold the prior month. The building with the most aggregate sales recorded this month was 160 Leroy Street, which saw $57 million in sales over 9 closings.

New development condo prices averaged $2,253/ft² this month, compared to $1,639/ft² for non-new development condominium sales. The number of sales was down this month—76, as compared to 92 in the prior month. The average price, $4.0 million, was also down from the $4.4 million average the prior month, but the average price/ft² was up 2.8%. The aggregate sales total of new developments was $302 million.

Most Expensive Sales:

1. Walker Tower, #PH3/4 - $31M

2. The San Remo, #5C - $24M

3. One57, #61B - $23.5M

The most expensive sale this month was at Chelsea’s Walker Tower. PH3/4 in the recent conversion sold for $31 million. The 7,058-square-foot, four-bedroom, five-bathroom unit last sold for $31.3 million in 2014.

The second most expensive sale was in the venerable San Remo, where unit 5C sold for $24 million. The five-bedroom has six+ bathrooms and last sold for $17.5 million in 2014.

The third biggest sale this month was at One57. Apartment 61B in the building sold for $23.5 million. The 4,193-square-foot unit has three bedrooms and three-and-a-half bathrooms.

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