AgentIndustry News

Upper East Side holds May’s three largest sales in Manhattan

The neighborhood’s average price per square foot shifts up, Midtown and Financial District trend down
  • The Upper East Side held the second highest-grossing May sales in Manhattan, led by three top listings.
  • A $52 million condo at 4 E. 66th St. went off the market last month, making it the most expensive co-op sale of 2016 and the seventh most expensive co-op in Manhattan history.
  • While Downtown held 49 percent of Manhattan’s total May sales for a gross $621 million, the Upper East Side came in second with 23 percent of sales.
  • The number of total sales in the borough dwindled to 751 from 955 sales in April.

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The Upper East Side, in decline throughout the latter part of last year, has skyrocketed in price over the last few months. According to the latest CityRealty monthly market report, the neighborhood held the second highest-grossing May sales in Manhattan, led by three top listings. A $52 million condo at 4 E. 66th St. went off the market last month, making it the most expensive co-op sale of 2016 and the seventh most expensive co-op in Manhattan history. The four-bedroom, five-bathroom unit offers approximately 7,500 square feet. The top pre-war listing was located in a J.E.R. Carpenter-designed limestone building, also known as 845 Fifth Avenue.  There are just 16 co-ops inside. Just below the pricey co-op was a $42.8 million listing at the Whitney Condos, made up of 10,088 square feet, five bedrooms and six-and-a-half bathrooms. The third most expensive sale was at 151 E. 78th St. for $30.9 million, offering five bedrooms and six bathrooms in just under 7,000 square feet. ...