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

Market Reports & Research

CityRealty October Real Estate Market Report CityRealty's October 2018 market report includes all public records data available through September 30, 2018 for deeds recorded the prior month.

The Highlights:


  • The average sales price in Manhattan dipped slightly in the four weeks leading up to September 1, but the number of recorded sales went up. The average sales price for all units, including co-ops and condos, was $1.95 million, down from $2.2 million in the prior month. The number of recorded sales, 1024, was up from the 980 recorded the preceding month.


  • The average price of a condo was $2.8 million and the average price of a co-op was $1.3 million, both of which are just slightly down from last month. There were 447 condo sales and 577 co-op sales.


  • The number of residential sales was up in the four weeks leading up to September 1, and the aggregate sales total, $2.0 billion, was the same total from the prior month. The building with the most aggregate sales recorded this month was the new Herzog & de Meuron-designed 160 Leroy Street (again), which saw $111 million in sales over 9 closings. One57 came in second place with 3 pricey units that sold for a total of $55 million.


  • New development condo prices averaged $2,302/ft2 this month, compared to $1,760/ft2 for non-new development condominium sales. The number of sales was up this month—104, as compared to 96 in the prior month. The average price, $4.7 million, was up slightly from the $4.6 million average the prior month. The aggregate sales total of new developments reached $485 million this month, a substantial increase from last month's $438 million. As expected, most of these sales came from Downtown ($392 million), but the Upper East Side was responsible for a respectable $54 million.

Most Expensive Sales:

$42 Million

$28 Million

$24 Million

one 57 77 One 57, 157 West 57th Street, #77 - $42M
160 leroy PHS 160 Leroy, #PHS - $28M
70 vestry 8S 70 Vestry Street, #8S - $24M
The most expensive sale this month was at Extell's One57 at 157 West 57th Street in Midtown West. Unit 77 in the new condo sold for $42 million. The 6,240-square-foot, four-bedroom, four-bathroom was sold at a $6 million loss. A European buyer bought the apartment for $47.8 million in 2015.
The second most expensive sale was at the new development 160 Leroy, where unit PHS sold for $28 million, making it the second priciest unit sold in the West Village condo. The four-bedroom spread measures 4,889 square feet and features a 2,600-square-foot rooftop terrace.
The third biggest sale this month was at 70 Vestry Street. Unit 8S sold for $24 million and at 4,888 square feet, it is one of the largest units in the building – even slightly bigger than Tom Brady and Gisele Bundchen's apartment on the 12th floor, a five-bedroom pad that was last listed for $29.5 million a year ago.
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