AgentMarkets & Economy

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.

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SoHo/Flickr user Shinya Suzuki 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 in February, albeit falling slightly from the $591 million in transactions in January. At number two in grossing sales in the report, Midtown procured $278 million in residential transactions in February. Both Downtown and Midtown boasted top price per square foot averages at $2,228 and $1,916, respectively. According to CityRealty’s report, Manhattan pulled $1.8 billion in aggregate sales in February, down from $1.9 billion in January. Sales prices in Manhattan still climbing Following this year’s trend of rising prices in Manhattan, the average sales price scaled to $2.3 million in February. The month prior, the average price was $2.1 million. For condos, 397 units sold at an average price of $...