Manhattan new development sales push average prices to their peak

Despite record price points, sales dropped more than 10 percent annually
  • According to the Brown Harris Stevens Q3 report, Manhattan condos hit an average price of $3 million.
  • The average price within new development alone hit a record $4.39 million.
  • Resale average and median price grew 5 percent and 6 percent, respectively.

The average condominium price in the Big Apple is now over $3 million for the first time in history, driven by sizable high-end Manhattan new development closings in the third quarter, according to a new report.