Week-over-week, the inventory of Manhattan residential condos on the market fell slightly to 3,613 listings, while the borough's median price ticked slightly up to $2.2M ($1,725/ft2). With a high volume of contract-signings showing renewed strength in the market, many ultra-high-end homes de-listed during the dark days of the pandemic have returned to the market. Cooperative listings were similarly flat, falling marginally to 3,581 listings priced at a median of $895K.
Both listings and closing prices are substantially down from years prior. Our records show the median asking price of a Manhattan condo is down 12% from last year and the median closing price/ft2 has fallen to 2013/204 levels. Below, we take a look at new-to-the-market listings priced substantially below their building's closing price/ft2 average. We compared the unit's sticker price to the average closing price of sales in the last four years for that particular unit type.
Both listings and closing prices are substantially down from years prior. Our records show the median asking price of a Manhattan condo is down 12% from last year and the median closing price/ft2 has fallen to 2013/204 levels. Below, we take a look at new-to-the-market listings priced substantially below their building's closing price/ft2 average. We compared the unit's sticker price to the average closing price of sales in the last four years for that particular unit type.
In this article:
Isis Condominium, #5A | $1,849,000
Lenox Hill | Condominium | 2 Bedrooms, 2.5 Baths | 1,250 ft2Priced 4% below Isis' recent 2-bed closing average
From the Listing: Boutique condominium living at its best! 30 residences are spread out over 18 floors with only 1-2 apartments per floor. This 1,250sf two bedroom, 2.5 bathroom apartment is in excellent condition and has superb sunlight all day. The South and East exposures offer wonderful light from floor-to-ceiling Wausau windows. See floor plan and full details here.
The Edge South Tower, #6G | $1,100,000
Williamsburg | Condominium | 1 Bedroom, 1 Baths | 827 ft2Priced 13% below The Edge South Tower's recent 1-bed closing average
From the Listing: Residence 6G at the South Tower of The Edge is an oversized, ideally laid out 1 bedroom, 1 bathroom home with large windows and river views. This airy space offers plenty of room for lounging and dining and abundant room for an at-home office. Open great room features floor-to-ceiling windows, with views of the riverfront park and pier. See floor plan and full details here.
18 Gramercy Park South, #7 | $13,500,000
Gramercy Park | Condominium | 4 Bedrooms, 5.5 Baths | 4,207 ft2Priced 13% below 18 Gramercy Park South's recent 4-bed closing average
From the Listing: If a very private, full-service residence with only 16 full-floor apartments, and provides abundant light and space in the highly sought-after Gramercy Park location, look no further. The splendor and elegance of the stunning residence, Apartment 7, at 18 Gramercy Park South checks all the boxes. Created by the same master craftsman whose genius brought us 15 Central Park West, an internationally acclaimed residence, this 1927 pre-war edifice has been re-imagined as a state-of-the-art condominium full-service residence that sets a new standard in downtown living. Two elegant key-locked elevators provide direct access into the 4200 square foot full-floor apartment which enjoys 40 feet of frontage on Gramercy Park, 130 feet on Irving Place with 28 windows and beautiful views of the revered and much-heralded private Gramercy Park and noteworthy nearby buildings. See floor plan and full details here.
Citylights, #23D | $399,999
Long Island City | Condop | 1 Bedroom, 1 Baths | 640 ft2Priced 14% below Citylights' recent 1-bed closing average
From the Listing: This original Citylights one-bedroom apartment is priced to sell and make it your own! Perfectly situated on the 23rd floor with north-facing views of Long Island City, East River and beyond. This apartment features views, large closets, a pass-thru kitchen, a spacious bedroom, and large living room big enough for a dining table. See floor plan and full details here.
55 Poplar Street, #2F | $1,150,000
Brooklyn Heights | Condominium | 2 Bedrooms, 1 Bath | 1,080 ft2Priced 16% below 55 Poplar Street's recent 2-bed closing average
From the Listing: Sunny One Bedroom Condo With Two Lofts in Brooklyn Heights! This renovated one bedroom with two additional lofts is a serene oasis in the heart of historic Brooklyn. Enter the apartment and you are immediately greeted by soaring ceilings and oversized windows, allowing for uninterrupted light and unadulterated views of the award-winning garden below. See floor plan and full details here.
411 West 44th Street, #22 | $700,000
Midtown West | Cooperative | 2 Bedrooms, 1 Bath | 700 ft2Priced 17% below 411 West 44th Street's recent 2-bed closing average
From the Listing: RENOVATED TWO-BEDROOM featuring 3 exposures with sunny windows in every room; high ceilings, washer & dryer (inside the apt), dishwasher, lots of storage, hardwood floors, and original molding. Only 3 floors up, A/C in every room. See floor plan and full details here.
The Madison Parq, #9D | $600,000 (-14%)
Flatiron/Union Square | Cooperative | 1 Bedroom, 1 Baths | 675 ft2Priced 17% below The Madison Parq's recent 1-bed closing average
From the Listing: This large 1 BR apartment is pin-drop quiet. It has loft-like 10' ceilings with oversize windows to let in the light and hardwood floors throughout. Storage won't be a problem with 4 large closets. Subletting is permitted after only 2 years.
See floor plan and full details here.
Trump Tower, #44EF | $4,000,000
Midtown East | Condominium | 2 Bedrooms, 2.5 Baths | 2,195 ft2Priced 17% below Trump Tower's recent 2-bed closing average
From the Listing: Perched high above the City overlooking Central Park, dont miss this one-of-a-kind, beautifully combined 2,195 square foot two-bedroom, two and one-half bathroom apartment featuring stunning Central Park views from every room. Entering the apartment, you are immediately greeted by Central Park and drawn forward into the expansive living room and dining area. The space flows seamlessly emphasizing the luxurious open floor plan, perfect for entertaining. Two separate kitchen areas currently serve the space affording convenience and option. See floor plan and full details here.
111 Barrow Street, #2F | $1,445,000
West Village | Cooperative | 1 Bedroom, 1 Baths | 1,350 ft2Priced 17% below 111 Barrow Street's recent 1-bed closing average
From the Listing: West Village loft. 1 1/2 blocks from the Hudson River Park. A few minutes from the New PayPal, Disney and Google developments. 12 foot high beamed ceilings here lend an extra sense of luxury to this spacious 1 bedroom apartment. It includes an extra interior room which can be used as an office or a reading room. The oversized windows and a working fireplace add charm and elegance. The dining room is contiguous to an open island kitchen. Generous closets and lots of storage throughout this apartment are augmented by a basement storage space included in the sale. See floor plan and full details here.
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20 Pine Street, #1706 | $1,025,000
Financial District | Condominium | 1 Bedroom, 1 Baths | 1,070 ft2Priced 18% below 20 Pine Street's recent 1-bed closing average
From the Listing: Welcome home to this turn-key 1,070 SF loft with open, beautiful South facing views overlooking the New York Stock Exchange. Designed by Armani Casa, this high-floor apartment offers a bright and spacious great room which is ideal for retreating from the city or entertaining your guests. In the exquisitely designed kitchen first-class appliances include a Sub Zero refrigerator, Fisher Paykel dishwasher, Miele gas range and contemporary walnut cabinetry. The grand bathroom includes a soaking tub and a separate rain shower. See floor plan and full details here.
Azure, #28C | $2,995,000
Yorkville | Cooperative | 4 Bedrooms, 4 Baths | 2,952 ft2Priced 20% below Azure's recent 4-bed closing average
From the Listing: Welcome to apartment 28CD boasting nearly 3,000 square-feet, four-bedrooms, four full en-suite bathrooms and one half-bath, an oversized chef's kitchen for entertaining, flanked by two large great rooms, a private balcony, and floor-to-ceiling windows. Experience three open skyline exposures with full southern views of NYC's most iconic buildings as well as eastern views of the river and western views toward Central Park. See floor plan and full details here.
53W53, #20C | $2,700,000
Midtown West | Condominium | 1 Bedroom, 1.5 Baths | 1,428 ft2Priced 19% below 53W53's recent 1-bed closing average
From the Listing: Nestled on the 20th floor of Jean Nouvel's masterpiece, "Moma Tower" this palatial 1 bedroom / 1.5 bathroom is the first re-sale in the history of the building. 20C features a generously proportioned layout with over 1400 sqft throughout housing a full utility closet, expansive walk-in closet, and palatial living room and bedroom size.
When you negotiate with a developer, you as the buyer start off with the responsibility of paying the transfer tax, a material sum of money. When you come to a resale, you are not responsible for this tax. The savings in this price range is over $50,000. 20C is by far, the greatest value for one-bedroom apartments in the building! See floor plan and full details here.
When you negotiate with a developer, you as the buyer start off with the responsibility of paying the transfer tax, a material sum of money. When you come to a resale, you are not responsible for this tax. The savings in this price range is over $50,000. 20C is by far, the greatest value for one-bedroom apartments in the building! See floor plan and full details here.
865 UN Plaza, #3C | $835,000 (-1%)
Turtle Bay/United Nations | Condominium | 1 Bedroom, 1 Bath | 947 ft2Priced 20% below 865 UN Plaza's recent 1-bed closing average
From the Listing: Sun-drenched with Eastern exposures and a view of the UN, this renovated 1-BR condo is an easy place to call home! Big & spacious with 934 square feet, the apartment boasts a very grand living/dining room, high beamed ceilings, over-sized bedroom, and windowed kitchen with stunning countertops, sub-zero refrigerator, dishwasher, and plenty of cabinets. The bathroom features marble finishes, custom vanity, and a deep soaking tub. Great closets including two walk-ins. Refinished hardwood floors throughout. See floor plan and full details here.
SoHo Mews, #4I | $2,750,000
SoHo | Condominium | 2 Bedrooms, 2.5 Baths | 1,745 ft2Priced 20% below Soho Mews' recent 2-bed closing average
From the Listing: With a wonderful double-wide, light-filled Great Room, this 2-bedroom, 2.5 bathroom home offers 1,745 square feet of luxurious living. As you make your way beyond a proper entry foyer and into the great room you are welcomed with brilliant light from the floor to ceiling West facing windows and 10-foot ceilings; the Vulcano oak wide plank flooring throughout allows the space to flow effortlessly. Open to the graciously appointed loft-like living and dining space is the gorgeous and highly functional kitchen featuring custom Valcucine cabinets, Jet Mist counters, breakfast bar, and top-of-the-line Gaggenau, SubZero, and Miele appliances. See floor plan and full details here.
30E31, #20 | $2,510,000 (-36%)
Murray Hill | Condominium | 2 Bedrooms, 2.5 Baths | 1,677 ft2Priced 22% below 30E31's recent 2-bed closing average
From the Listing: Residence 20 is a FULL-floor 2BR/2.5BTH residence of 1,677sq.ft., with 9'-9" ceilings, offering abundant light and views to the north, west, and south, capturing the dynamic New York City skyline. This sophisticated home offers 7' wide-plank white oak flooring throughout, expansive picture-frame windows, and multi-zone climate control. The residence boasts a 4-pipe HVAC system, allowing for simultaneous heating and cooling in different zones. See floor plan and full details here.
The Toy Factory Lofts, #2C | $790,000 (-4%)
Downtown Brooklyn | Condominium | 1 Bedroom, 1 Bath | 811 ft2Priced 22% below The Toy Factory Lofts' recent 1-bed closing average
From the Listing: Conveniently located at the foot of the Manhattan Bridge, this loft-like one-bedroom, a one-bath apartment inside Brooklyn's coveted Toy Factory complex puts you at the heart of one of the most thriving sections of Downtown Brooklyn. The living space expertly combines classic pre-war details with sleek, high-end amenities such as stainless steel appliances in the open kitchen. Large east-facing windows fill the apartment with natural light and illuminate the gorgeous hardwood floors, while the soaring ceilings allow the space plenty of room to breathe.
See floor plan and full details here.
15 East 91st Street, #11FLA | $2,945,000
Carnegie Hill | Cooperative | 3 Bedrooms, 3.5 Baths | 2,400 ft2Priced 23% below 15 East 91st Street's recent 3-bed closing average
From the Listing: Welcome to apartment 11A at 15 East 91st Street. This nearly 2,400 square foot home features abundant space and natural light from three exposures. Residents are greeted in a stately entry foyer with two closets, and stunning herringbone-patterned hardwood floors that lead into the formal living room. The latter space has exposures West and North, with views of Central Park, the Reservoir, and Fifth Avenue to the West. The formal living room also features a wood-burning fireplace. See floor plan and full details here.
88 & 90 Lex, #307 | $3,995,000 (-6%)
Flatiron/Union Square | Condominium | 3 Bedrooms, 4 Baths | 2,319 ft2Priced 24% below 88 & 90 Lex's recent 3-bed closing average
From the Listing:
Beautiful three-bedroom, three-and-a-half bath residence featuring dramatic 10' ceilings and oversized windows with southern exposures. Thoughtfully designed by architect workshop/apd, this residence offers an open floorplan configuration with an OVERSIZED living room and dining area ideal for entertaining. Interior details include cove and recessed overhead lighting and 8' solid wood interior doors. The contemporary open kitchen features custom cabinetry made from European oak, a polished glass composite slab countertop, an antique grey marble slab backsplash, Dornbracht fixtures, a Bertazzoni double-oven and cooktop, and a Sub-Zero refrigerator, freezer, and wine cooler with dual zones.
See floor plan and full details here.
685 West End Avenue, #8C | $1,375,000
Riverside Dr./West End Ave. | Cooperative | 2 Bedrooms, 1.5 Baths | 1,300 ft2Priced 28% below 685 West End Avenue's recent 2-bed closing average
From the Listing: Oversized two-bedroom apartment offered by original Sponsor, neither subject to board approval nor to financing limitations. This spacious 1300 sq ft apartment can accommodate a home office in every room in addition to your king-size bed and furniture. Two large bedrooms, windowed 1.5 baths easy to convert to 2 full, master bathroom with shower stall and tub, eat-in windowed kitchen with room to install easily a washer/dryer. The dining area can be situated comfortably in either the living room or the gracious entry foyer. New windows, bright southern and northern exposures, six ample (2 walk-in) closets, 9-foot beamed ceilings, hardwood floors, crown moldings, only 4 apartments on the floor.
See floor plan and full details here.
147 West 22nd Street, #1E | $1,998,000 (-9%)
Chelsea | Cooperative | 2 Bedrooms, 2 Baths | 2,632 ft2Priced 30% below 147 West 22nd Street's recent 2-bed closing average
From the Listing: Welcome to this massive, 2,632 square foot, quintessential and authentic artists loft in the heart of Chelsea. Bring your architect to see and transform this expansive, one-of-a-kind loft into your dream home. The loft is currently configured as a 2-bedroom, 2-bathroom live/work loft but consider it a blank canvas awaiting your transformative renovation. This is a truly rare offering as the original owner/artist had called this their home and artist gallery for 30+ years. This ground floor level loft was completely gut renovated by the recent homeowners in 2019. See floor plan and full details here.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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