In 2023, condo and co-op prices rose the most in these Manhattan and Brooklyn neighborhoods

By CityRealty Staff | From Get To Know Friday, January 12, 2024

Presently, the listing inventory in core NYC neighborhoods is below 7,000 active listings, a notable decrease from the approximately 10,200 sales listings seen in these areas at the close of 2020. Throughout 2023, historically low inventory led to a one-third decrease in the number of sales year-over-year. Only three neighborhoods experienced an uptick in condo closings, while just two saw an increase in co-op/condop closings. These limited increases were primarily attributed to the delivery of sponsor inventory in newly completed properties.

In Manhattan, the average price per square foot for a closed condo in 2023 remained flat year-over-year, shifting from an average of $1,801/ft² to $1,795/ft². Similarly, the average price of closed co-ops in the borough remained steady, rising from an average price of $1.31 million in 2022 to $1.32 million in 2023.

Below, we delve into the neighborhoods that experienced the most significant price gains in both condo and co-op values for 2023, and feature an attainably-priced availability within each.

2023 Condo Sales - Biggest Price/ft² Gainers

#10. Downtown Brooklyn

2023 Average Condo PPSF: $1,450 (+5%) | 2023 Condo Sales: 115 (-39%)

Downtown Brooklyn skyline from the Financial District

Toren, #1706
$1,270,000

Downtown Brooklyn | Condominium | 2 Bedrooms, 2 Baths | 1,033 ft²

Toren, #1706 (Douglas Elliman Real Estate)

From the Listing: A corner two-bedroom, two-bath with amazing views in the Toren. A gracious entry foyer and hall, complete with two extra-large closets, lead you into the apartment. Southern and Western views through floor-to-ceiling windows are the first thing you'll see as you walk into the main living space. With a terrific layout offering room to create separate and spacious dining and living areas, the open floor plan lends itself to many furniture configurations. See floor plan and full details here.

#9. Crown Heights

Average PPSF: $1,099 (+8%) | 2023 Condo Sales: 106 (-7%)

Crown Heights rowhouses (CityRealty)

Urban Nostrand, #3R
$1,095,000

Crown Heights | Condominium | 2 Bedrooms, 2 Baths | 1,028 ft²

Urban Nostrand, #3R (Serhant LLC)

From the Listing: Welcome to 720 Nostrand Ave. a boutique elevator building in the heart of Crown Heights. Apt 3R, is a spacious 2 Bed, 2 Bath home spanning 1,028 sq. ft, featuring a balcony and a private storage unit in the basement.The living/dining area is designed with an open and airy motif, while the bedrooms are thoughtfully separated for maximum privacy. The primary bedroom features a large closet and a continuous wall of Pella windows with a sliding glass door to the balcony. The primary en-suite bathroom is complete with contemporary fixtures and a step-in shower with a built-in bench and rain and handheld showerheads. See floor plan and full details here.

#8. Financial District

Average PPSF: $1,534 (+8%) | 2023 Condo Sales: 299 (-22%)

The Financial District from DUMBO

South Star, #8I
$899,000 (-10%)

Financial District | Condominium | 2 Bedrooms, 2 Baths | 1,153 ft²

South Star, #8I (Douglas Elliman Real Estate)

From the Listing: Situated in a tranquil enclave right in the heart of the Financial District, this functional 2-bedroom, 2-bathroom apartment boasts impressive 10' 8" ceilings. Upon entry, you'll be welcomed by a bright and airy foyer that seamlessly flows into an open kitchen, creating a harmonious connection to a spacious living area, ideal for both entertaining and relaxation. See floor plan and full details here.

#7. Boerum Hill

Average PPSF: $1,558 (+9%) | 2023 Condo Sales: 80 (-42%)

Boerum Hill

Smith and Douglass, #A
$2,550,000

Boerum Hill | Condominium | 2 Bedrooms, 2.5 Baths | 2,132 ft²

Smith and Douglass, #A (Douglas Elliman Real Estate)

From the Listing: Residence A is a luxuriously appointed duplex home with its own private backyard. On the upper floor, there is an open plan kitchen and living room, two bedrooms, and two bathrooms. On the lower level, there is an oversized great room with wet bar for entertaining, a powder room, floor-to-ceiling windows and direct access to the paved and landscaped private garden.Situated at the crossroads of classic Brooklyn neighborhoods- namely Boerum Hill, Cobble Hill and Carroll Gardens, 85 Douglass Street provides direct access to some of the most established cultural institutions, parks, entertainment venues, curated boutiques, and more. See floor plan and full details here.

#6. Morningside Heights

Average PPSF: $1,771 (+9%) | 2023 Condo Sales: 35 (-8%)

Claremont Hall, #11G
$1,500,000 (-9.6%)

Morningside Heights | Condominium | 1 Bedroom, 2 Baths | 1,036 ft²

Claremont Hall, #11G (Corcoran Sunshine Marketing Group)

From the Listing: Spanning 1,036 square feet and offering western views overlooking the grandeur of Riverside Church, Riverside Park, and the Hudson River, 11G is an extra-large one-bedroom home featuring two full baths and a sizable, flexible study space that can accommodate a variety of uses. The corner living and dining room enjoys a sunny southern exposure, while an expansive L-shaped kitchen with breakfast bar and wine refrigerator makes everyday cooking and entertaining a breeze. The primary bedroom features an ensuite bathroom with deep soaking tub, a walk-in closet, and Hudson River views. A full secondary bath with large glass-enclosed walk-in shower completes this distinctive residence. See floor plan and full details here.

#5. West Village

Average PPSF: $2,796 (+11%) | 2023 Condo Sales: 77 (-38%)

254 West 10th Street, #4B
$2,195,000

West Village | Condominium | 2 Bedrooms, 2 Baths | 900 ft²

254 West 10th Street, #4B (Brown Harris Stevens Residential Sales LLC)

From the Listing: This true 2-bedroom, 2-bathroom apartment is located in the heart of the West Village and has everything you would want from a Village apartment: open concept common room, 22 windows (16 of them floor-to-ceiling), 9 Juliette balconies, a gas fireplace surrounded by built-in bookcases in the living room, a renovated, hardwood floors, windowed kitchen with granite counters and stainless steel appliances, two equal sized bedrooms, two full, windowed baths, north, east and west exposures and access to a common landscaped roof terrace! See floor plan and full details here.

#4. Red Hook

Average PPSF: $1,073 (+13%) | 2023 Condo Sales: 11 (10%)

The Red Hook Lofts, #5D3
$2,650,000 (-11.2%)

Red Hook | Condominium | 3 Bedrooms, 3 Baths | 2,782 ft²

The Red Hook Lofts, #5D3 (Living New York)

From the Listing: Own a piece of NYC history in this historic, beautifully restored 1910 warehouse loft building. Full-floor loft with breathtaking New York Harbor, Manhattan and Brooklyn views, 32-foot private dual balconies with panoramic waterfront and city views, gourmet kitchen with premium Liebherr and Miele stainless steel appliances, and bedrooms with luxurious en-suite baths. Sponsor pays 12 months common charges for contracts signed in January. See floor plan and full details here.

#3. Windsor Terrace

Average PPSF: $1,142 (+17%) | 2023 Condo Sales: 14 (-53%)

#2. DUMBO

Average PPSF: $1,888 (+21%) | 2023 Condo Sales: 102 (-23%)

70 Washington Street, #11K
$1,775,000 (-4.1%)

DUMBO | Condominium | 1 Bedroom, 2 Baths | 1,560 ft²

70 Washington Street, #11K (Brown Harris Stevens Residential Sales LLC)

From the Listing: Grand and voluminous, illuminated by massive south-west facing windows, this one bedroom plus home office, two bathroom condo loft will check all your boxes! Located in one of the most desirable and established condominiums in DUMBO on a high floor with sweeping city and harbor views, the rambling layout offers tons of space, storage and versatility. Down a long corridor with lots of wall space for art and decor, enter the open-plan living area with a chef's kitchen and an extra-large peninsula. See floor plan and full details here.

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#1. Yorkville

Average Condo PPSF: $1,896 (+26%) | 2023 Condo Sales: 249 (-14%)

Yorkville Tower 2, #3H
$1,295,000

Yorkville | Condominium | 2 Bedrooms, 2 Baths | 1,160 ft²

Yorkville Tower 2, #3H (Corcoran Group)

From the Listing: Newly renovated 2-bed, 2-bath condo with garden views to the north and east. Kitchen with granite counters, stainless steel appliances, under-cabinet lighting and undermount sink. Windowed dining area off the kitchen could be flexed into third bedroom/office. White oak floors, 5 closets with adjustable shelving and new doors, designer light fixtures. Both bathrooms have been upgraded, new windows with screens and custom roller shades. See floor plan and full details here.

2023 Co-op Sales - Biggest Price Gainers

#10. Broadway Corridor

Average Co-op Price: $849,000 (+0%) | 2023 Co-op Sales: 288 (-28%)

The Brownstones, #4F
$545,000 (-3.5%)

Broadway Corridor | Cooperative | 1 Bedroom, 1 Bath

The Brownstones, #4F (Brown Harris Stevens Residential Sales LLC)

From the Listing: Welcome to this charming one-bedroom co-op apartment, located in an Upper West Side restored brownstone. As you enter, you'll be greeted by the warmth of hardwood floors that run throughout the apartment. The iconic step-down living room features a decorative fireplace and ceiling-to-floor exposed brick walls, adding character and charm to the space. A galley kitchen, which is both functional and stylish, boasts quartz countertops and Bosch stainless steel appliances. See floor plan and full details here.

#9. Chelsea

Average Co-op Price: $750,000 (+0%) | 2023 Co-op Sales: 266 (-44%)

261 West 22nd Street, #22
$699,000

Chelsea | Cooperative | 1 Bedroom, 1 Bath

261 West 22nd Street, #22 (Compass)

From the Listing: When a fashion photographer designs an apartment, you end up with a truly unique and beautiful home. Hardwood floors, high ceilings, in-unit washer/dryer, and custom elfa closet shelving in the bedroom are just a few of the fantastic features found throughout. The windowed kitchen has been completely renovated with brand-new countertops, a stainless steel dishwasher, and Bertazzoni range. The windowed bathroom has been re-finished with custom ceramic tiling. Each unit in this building has access to its own extra large, private storage unit in the basement. See floor plan and full details here.

#8. Lincoln Center

Average Co-op Price: $700,000 (+0%) | 2023 Co-op Sales: 218 (-30%)

Nevada Towers, #14A
$725,000

Lincoln Center | Cooperative | 1 Bedroom, 1 Bath

Nevada Towers, #14A (Compass)

From the Listing: This coveted A line apartment, the largest one bedroom line in Nevada Towers faces west and is flooded with afternoon sunlight. The large living room is perfect for entertaining, and can accommodate a large sectional or two seating areas. There is a separate dining alcove which alternatively can be set up as a home office and a custom storage closet or pantry. The galley kitchen has attractive wood and glass cabinets. The renovated windowed bathroom has marbled ceramic tile, new vanity and a tub/shower with a custom glass shower door. See floor plan and full details here.

#7. Gramercy Park

Average Co-op Price: $715,000 (+3%) | 2023 Co-op Sales: 260 (-34%)

Little Gramercy, #4CDE
$1,250,000

Gramercy Park | Cooperative | 2 Bedrooms, 3 Baths

Little Gramercy, #4CDE (Douglas Elliman Real Estate)

From the Listing: When you enter unit 4CDE, you are immediately greeted by a harmonious blend of luxury and comfort. The apartment boasts generous living spaces, allowing you the freedom to customize and create your own ideal home environment. Stay on the cutting edge of technology with Samsung SmartThings, which seamlessly connects the apartment lights for effortless control and convenience. Because this apartment was created by adjoining three apartments, it offers the comfort and convenience of three tastefully designed and fully equipped bathrooms. Maintenance includes a $55 charge for bulk rate internet and cable for the building. See floor plan and full details here.

#6. Lower East Side

Average Co-op Price: $743,000 (+5%) | 2023 Co-op Sales: 131 (-25%)

Hillman Coop, #E12E
$638,000

Lower East Side | Cooperative | 1 Bedroom, 1 Bath | 750 ft²

Hillman Coop, #E12E (LoHo Realty Inc)

From the Listing: Experience the epitome of urban living in this one-bedroom, one-bathroom gem boasting unrivaled elegance and exceptional amenities. Gaze upon the mesmerizing downtown skyline and the iconic One World Trade Center right from your window. With a generous 750 square feet, this apartment offers unheard-of space in the heart of Manhattan. Beamed nine-foot ceilings add a touch of grandeur to your living space. Stay organized with three generous walk-in closets. See floor plan and full details here.

#5. Hamilton Heights

Average Co-op Price: $407,500 (+6%) | 2023 Co-op Sales: 25 (-48%)

The Paul Revere, #21
$665,000

Hamilton Heights | Cooperative | 2 Bedrooms, 1 Bath

The Paul Revere, #21 (Compass)

From the Listing: This spacious home has pre-war details that allow the grandeur of this floor plan to flow room to room seamlessly. An extra-large living room and formal dining room make for great entertaining. You can convert it to a three bedroom without sacrificing space or have a legit home office. Queen sized bedrooms to sleep in and a bathroom with a clawfoot tub to relax in minimizes the stress of the city after a long day. This lucky buyer gets what every New Yorker wants, an in-unit washer and dryer. See floor plan and full details here.

#4. Harlem

Average Co-op Price: $510,000 (+7%) | 2023 Co-op Sales: 45 (-48%)

The Renaissance, #330
$519,000

Harlem | Cooperative | 2 Bedrooms, 1 Bath

The Renaissance, #330 (Compass)

From the Listing: This beautiful home was recently renovated with a Modern minimalist kitchen and bathroom with elegant gray stone ceramic walls and floors and sleek white cabinets. Built-in custom-made hand-varnished dining bar table and ample interior lighting in the kitchen and a spacious living room. The main bedroom easily accommodates a king-size bed with all your furniture and the second bedroom accommodates a queen bed. The modern bathroom is a must-see, completely renovated with a Duravit toilet, modern bathtub, and Kohler fixtures. See floor plan and full details here.

#3. Murray Hill

Average Co-op Price: $550,000 (+9%) | 2023 Co-op Sales: 240 (-32%)

67 Park Avenue, #8E
$499,000 (-9.3%)

Murray Hill | Cooperative | 1 Bedroom, 1 Bath | 715 ft²

67 Park Avenue, #8E (Compass)

From the Listing: Perfect for entertaining, this spacious apartment has separate living and dining room spaces, wood-burning fireplace, a bedroom that comfortably fits a king-size bed. The apartment features an open kitchen equipped with a Sub-Zero fridge drawer system, Miele dishwasher, granite counter tops and custom cabinets. Beautiful pre-war details, high ceilings and ample closet space, this home is not to be missed. See floor plan and full details here.

#2. Midtown East

Average Co-op Price: $589,000 (+10%) | 2023 Co-op Sales: 215 (-29%)

155 East 49th Street, #3A
$425,000

Midtown East | Cooperative | 1 Bedroom, 1 Bath

155 East 49th Street, #3A (Compass)

From the Listing: As you enter this gorgeous junior 4 apartment, you will be greeted by a large foyer, spacious living room, and dining area with a full wall of southern facing windows overlooking a serene tree lined street. The alcove area off of the living room is currently used as a dining room, but could easily be converted into a small bedroom or office depending on the buyers needs. There is a great amount of closet space with five large closets in total and one spacious walk-in-closet with a window. The seller is offering $6.500 maintenance credit for one year to a new buyer if a contract is signed by end of this year. See floor plan and full details here.

#1. West Village

Average Co-op Price: $951,000 (+18%) | 2023 Co-op Sales: 163 (-35%)

720 Greenwich Street, #9G
$795,000

West Village | Cooperative | Studio, 1 Bath

720 Greenwich Street, #9G (Compass)

From the Listing: Located in the charming West Village between Charles and Perry, this open, architect-designed studio loft has sweeping views of the NYC skyline and the tree-lined historic brownstone blocks from the oversized casement window. The beauty of this open space is in the details, from the original barrel vaulted ceilings, maple floors with distinctive Brazilian cherry inlay, casement window, cleverly designed built-in desks that disappear when not in use and abundant closet space. A perfect starter home or pied-a-terre! See floor plan and full details here.

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