According to CityRealty’s monthly market report on New York City condos and co-ops, Manhattan grossed $2.3 billion in residential sales in July. Total home sales, including both condos and co-ops, reached 1,086 — up from 906 the month prior.

  • Manhattan grossed $2.3 billion in residential sales in July.
  • Average price per square foot for new development units was $2,405.
  • Downtown was the highest grossing region in Manhattan, with $829 million in condo sales last month.

According to CityRealty’s monthly market report on New York City condos and co-ops, Manhattan grossed $2.3 billion in residential sales in July. Total home sales, including both condos and co-ops, reached 1,086 — up from 906 the month prior.

Accoridng to the report, all sales in July combined for an average price of $2.1 million.

The average price for all condos sold in Manhattan last month was a staggering $3.1 million, the report says. Co-ops were significantly less steep, with an average price of $1.3 million. Across Manhattan, a respective 489 condos and 597 co-ops sold in July.

The highest grossing Manhattan area was Downtown, with $829 million in condo sales. Midtown was second, with $319 million in sales.

Less new condos, higher prices

Within the condo market, new development units averaged around $700 more in price per square foot ($2,405) than non-new developments, which costed an average $1,691 per-square-foot, the report says.

The frequency of new development sales dropped from 164 to 137 month-over-month, but new developments are significantly more expensive than last year, rising 16 percent in price. The price per square foot for new developments was a 6 percent jump from June.

New development condos sold for an average $4.9 million, amassing a total $668 million in July.

Manhattan region-by-region

New york city condos

Monthly Market Report / CityRealty

As the area with the most sales in Manhattan in July, Downtown has numerous escalating neighborhoods. SoHo saw a 54.8 percent jump in the 30-day price average to reach $2,542 per square foot across 17 sales in July.

Next to Downtown, Midtown encompassed 21 percent of the Manhattan market activity. Most of Midtowns sales were concentrated in Midtown West, where the 30-day price average grew 7.8 percent month-over-month to reach $1,791 per square foot. Midtown West had 60 total sales in July.

The Upper West Side held 12 percent of all sales for a total $176 million. Broadway Corridor held 25 sales in a 30-day period, with average price growing 8.2 percent from June to reach $1,588 per square foot.

Most expensive condo sales

The priciest sale last month was in Walker Tower for $45 million. The penthouse unit holds five bedrooms and five-and-a-half baths across 6,738 square feet.

At no. 2, a penthouse in the Baccarat Hotel & Residences in Midtown West sold for a whopping $42.5 million. This unit was slightly larger, at 7,552 square feet, and also has five bedrooms.

At 15 Central Park West, a $28 million dollar offer closed on unit 38A. The home is 2,846 square feet with three bedrooms and three-and-a-half bathrooms.

Email Jennifer Riner

 

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×