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A blog from CityRealty (Links below will take you to the 6sqft site)
 
 

Market Reports & Research

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

The Highlights:


  • The average sales price in Manhattan rose substantially in the four weeks leading up to May 1, while the number of recorded sales was up slightly. The average sales price for all units, including co-ops and condos, was $2.3 million, up from $2.1 million the prior month. The number of recorded sales, 820, was up slightly from the 807 recorded the preceding month.


  • The average price of a condo was $3.5 million and the average price of a co-op was $1.3 million. There were 388 condo sales and 432 co-op sales.


  • The number of residential sales was up slightly in the four weeks leading up to May 1, and the aggregate sales total, $1.9 billion, was also up from the $1.7 billion sold the prior month. The building with the most aggregate sales recorded this month was The Four Seasons Private Residences at 30 Park Place, which saw $94 million in sales over 4 closings.


  • The number of new development sales was up this month—115, as compared to 105 in the prior month. The average price, $4.3 million, was up from the $3.6 million average the prior month, and the average price/ft2 was essentially unchanged. The aggregate sales total of new developments was $492 million.


  • The aggregate value of luxury contracts was down from last month— $442M, compared to last month's impressive $601 million. 82 luxury contracts were signed, compared to last month's 67.

Most Expensive Sales:

The Getty, #PH
15 Central Park West, #16/17B
432 Park Avenue, #77B
The most expensive sale this month was at The Getty, a new Chelsea condo. The penthouse in the Peter Marino-designed condo on the High Line sold for $59 million. The 10,137-square-foot unit commanded $5,826/ft2.
The second most expensive sale was in 15 Central Park West, where a combination unit, 16/17B, sold for $50 million. The 5,417-square-foot unit has four bedrooms and six bathrooms.
The third biggest sale this month was at 432 Park Avenue. Apartment 77B in the building sold for $42 million. The 5,421-square-foot unit has four bedrooms and five bathrooms.
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