The average price of a co-op in Manhattan increased last month to $1.5 million, up from $1.3 million the prior month, according to research from CityRealty. The neighborhoods with the highest increases in average co-op prices were the West Village, the stretch of the Upper East Side covering Fifth Avenue to Park Avenue, and Morningside Heights.
The average price of a co-op was up dramatically in the West Village, where it was $3.6 million, up from $1.1 million the prior month. There were 12 co-op closings in the neighborhood last month, with the most expensive being the sale of Unit 6 in 165 Perry Street, a penthouse once owned by Robert De Nero that sold for $18 million.
The average price of a co-op was up dramatically in the West Village, where it was $3.6 million, up from $1.1 million the prior month. There were 12 co-op closings in the neighborhood last month, with the most expensive being the sale of Unit 6 in 165 Perry Street, a penthouse once owned by Robert De Nero that sold for $18 million.
165 Perry Street penthouse via Dolly Lenz
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The section of the Upper East Side comprising the area between Park and Fifth Avenues up to 79th Street saw the second largest increase in average co-op prices. The average price of a co-op in the area last month was $5.0 million, based on 20 closings, compared to $2.6 million the prior month. The most expensive sale in the neighborhood was for unit 17AB in Parc V at 785 Fifth Avenue, a five-bedroom that sold for $24.5 million.
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The Upper East Side's Park-Fifth Avenue neighborhood (CityRealty)
Morningside Heights saw the third-biggest gain in average co-op prices last month. The average price in the neighborhood was $1.1 million, compared to $705,700 the prior month. The priciest sale in the neighborhood was unit 2E in The Hamilton at 420 Riverside Drive, a three-bedroom that sold for $2.0 million.
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