Average Manhattan Co-op Prices Reach All-Time High in First Half of 2018

The San Remo and the Central Park West skyline (Corcoran)

Friday, Aug 3, 2018 By CityRealty Staff, CityRealty contributor

The average price of a Manhattan co-op was the highest it has ever been in the first two-quarters of 2018, according to research from CityRealty. The average price of a co-op in Manhattan in the first six months of 2018 was $1.43 million, 6% higher than the average price in the first two quarters of last year, when it was $1.36 million.

While there have been no record-breaking co-op sales thus far this year, dozens of very expensive sales have been logged, with 27 closings exceeding $10 million.

The most expensive co-op sale thus far in 2018 is the $35 million closing of the eight-bedroom, 15th Floor unit at 995 Fifth Avenue. There have been four closings in total recorded at 995 Fifth Avenue so far this year, making it the top-selling co-op so far in 2018, with $66.4 million in sales.

Other Upper East Side prewar co-op buildings have also seen multiple big ticket sales. At 730 Park Avenue, there has been $29.8 million in recorded sales: Unit 14C in the building sold for $17.7 million, and Unit 16B sold for $12.1 million. And the postwar co-op Parc V, at 785 Fifth Avenue, has seen $27.8 million in closings, including the $24.5 million closing of Unit 17AB.

See our list of NYC's most prestigous co-ops here

(Clockwise from top left) 960 Fifth Avenue, The Beresford, 834 Fifth Avenue, and The Dakota are among New York's most prestigious co-ops.

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Average Manhattan Co-op Prices Reach All-Time High in First Half of 2018

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Seven tips for getting past NYC&#039;s toughest co-op boards + Prewar gems with open houses

Manhattan sales led by a record-breaking Nolita penthouse and a steeply discounted 432 Park pad; Hanya Yanagihara nets 80% profit on Soho loft condo

Another quiet summer contract week amidst pied-a-terre tax lawsuit; $40.5M full-floor at 1122 Madison finds a buyer

Rebound in Manhattan sales includes Harry Belafonte&#039;s UWS co-op, a $47M Central Park Tower aerie, and trophy deals in landmarks

Flatiron Building half-floor leads quiet summer contract week; Sohmer Piano penthouse sells at auction for 64% discount

Over $500M in Manhattan sales led by $35M Greenwich Lane townhouse; Newly finished UES condo flips at 134% profit

Quiet Manhattan contract week as pied-a-terre tax implementation begins; Fashionable addresses lead NYC deals

Greenwich Village leads nearly $700M in Manhattan sales; Tribeca penthouse tops the week at $13.25M

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Seven tips for getting past NYC's toughest co-op boards + Prewar gems with open houses

Rebound in Manhattan sales includes Harry Belafonte's UWS co-op, a $47M Central Park Tower aerie, and trophy deals in landmarks