Last week, the Manhattan apartment sale market recorded 227 closings totaling $420.7 million, down from the prior week’s 250 closings and $482.1 million. The median sale price was about $1.2 million, while the average was $1.85 million.
The week’s top sale was a three-bedroom condo at 220 Central Park South #36B, which closed for $34.25 million, or $11,255 per square foot, by far the week’s highest price per square foot. Records show the seller paid $23 million in May 2021, so the apartment resold at roughly a 49% gain. It was followed by a four-bedroom condo at One High Line (500 West 18th Street #W26D) at $13.5 million, and penthouse #PHC/D at Warren Lofts (37 Warren Street) at $12.35 million, about 3% below the $12.73 million recorded for it in 2014. In all, 22 sales closed at or above $3.9 million, and three topped $10 million. That is fewer high-end sales than the prior week’s 28.
Co-ops made up more than half of closings, with 121 sales totaling $148.5 million and a median price of $805,000, down from $915,000 the prior week; 58% of co-op sales were under $1 million. Condos led the dollar volume, with 101 closings totaling $262.9 million, 62% of all volume. The median condo price was $1.65 million, unchanged from the prior week, and the median condo price per square foot was $1,498, compared with $1,537 a week earlier. There were also 5 condop sales, with a median price of $1.25 million.
New development units sold at premium prices, as the 41 sponsor sales reported sold at a median of $2,120 per square foot, about 61% above the $1,314 median for resale condos.