CityRealty's monthly rundown of the Manhattan residential real estate market.
The average price of a condo was $3.1 million and the average price of a co-op was $1.4 million. There were 406 condo sales and 345 co-op sales.
While average sale price for Manhattan apartments remained virtually unchanged in the four weeks leading up to June 1, the number of sales dropped dramatically month-to-month. The average price for an apartment—taking into account both condo and co-op sales—was $2.3 million, as it had been the preceding month. The number of recorded sales, 751, was down sharply from the 955 recorded in the preceding month.
Downtown was the highest-grossing region in Manhattan, with $621 million in condominium sales. The Upper East Side was the second highest-grossing area, with $289 million in sales. Downtown also had the highest price/ft2, $2,194/ft2, while the Upper West Side had the second-highest, $1,745/ft2.
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