Manhattan luxury sales increased last two quarters

  • CityRealty's overview shines a positive light on luxury residential sales, contrary to reports of a sluggish market.
  • Several prominent Manhattan residential towers saw drops in average price per square foot.
  • Developers aiming to get out of the oversupply might consider shifting gears to the mid-luxury niche, generally around $1 million to $5 million.

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Between October 2015 and March 2016, Manhattan’s top 100 residential buildings sold 566 apartments combined – a substantial increase from 344 sales in the same period one year prior, according to The CityRealty 100 Index.