Manhattan Condo Market Hits New Highs in Q1

May 03, 2016

Four years after Superstorm Sandy devastated the coastal properties in the Northeast

The Manhattan condo market set a new record on condo sales prices and totals in the first quarter of this year, according to new data from CityRealty, breaking the historic levels achieved in the fourth quarter of 2015.

During the first quarter, the Manhattan condo market his new heights for aggregate sales ($4.59 billion, up from the previous quarter’s $4.57 billion), the average sale price ($2.9 million, up from the previous quarter’s $2.5 million) and the price per square foot ($1,821, up from the previous quarter’s $1,713). Nearly one-quarter of all condo sales for this market were at or above $10 million.

As for the biggest sale of the quarter, that honor went to the $44.8 million transaction on the 4,019-square-foot apartment 64A in 432 Park Avenue, which features three bedrooms and four-and-a-half bathrooms.

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Phil Hall

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May 03, 2016

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