Downtown Manhattan leads borough in yielding sales, again

For the second month in a row, CityRealty says average price rose while number of sales dipped
  • At no. 2 in grossing sales in the report, Midtown procured $278 million in residential transactions in February.
  • According to CityRealty’s report, Manhattan pulled $1.8 billion in aggregate sales in February, down from $1.9 billion in January.
  • Manhattan closed 818 units across all apartment types in February, down from 894 the preceding month.
  • Three major contenders assisted in Manhattan’s excessive average cost: the Whitney Condos on 33 E. 74th St., the Puck Penthouses at 293 Lafayette St. in SoHo and 432 Park Ave.

Downtown Manhattan’s dominance in 2016 condo sales continues, according to a recent market report from CityRealty. With $575 million in condo sales, the Downtown neighborhood delivered the highest portion of earnings in the borough again last month, albeit falling slightly from the $591 million in transactions in February.