Report: Sales Price for Manhattan Condo and Co-op Prices Averaged $2.3M An Expensive Chelsea Penthouse Leads the Way

(istock.com)

In the four weeks leading up to May 1, Manhattan's average residential sales price increased significantly while the number of recorded sales saw an uptick.

That's what real estate website CityRealty said in its recently-released June report. According to the study, the average price for condos and co-ops was $2.3 million, which is above the $2.1 million figure from the prior month. The number of recorded sales were 820, up from 807 a month ago.

City Realty said that the average price for a condo was $3.5 million, in contrast to a co-op whose average price was $1.3 million. The numbers of condos and co-ops sold were 388 and 432 respectively.

The report also cited some of the most expensive unit sales this month, with the top honor belonging to a penthouse at The Getty on 501 West 24th Street in Chelsea for $59 million. That was followed by a four-bedroom/six-bathroom unit at 15 Central Park West for $50 million; and a four-bedroom/five-bathroom place at 432 Park Avenue for $42 million.

The number of new development sales, said CityRealty, saw a rise this month with 115 compared to 105 from the previous month. The average price was $4.3 million this month as well, up from the average of $3.6 million a month earlier.

As far as Manhattan condos go, according to 30-day total sales by region, Downtown Manhattan was the highest by netting $544 million.

To see the research, visit here.

David Chiu is an associate editor at The Cooperator.  

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