The Manhattan residential apartment market recorded 179 closings over the past week, including 19 transactions above $3.9 million. Total dollar volume reached approximately $379 million, led by a $21.25 million co-op closing at 778 Park Avenue, followed by two $17 million townhouse-style condo closings at The Henry on the UWS’ Broadway Corridor, and a $13.27 million penthouse at 2505 Broadway.
While recorded volume and activity was lighter than recent weeks, the decline likely reflects the Memorial Day holiday weekend and related reporting lag at the NYC Department of Finance.
The high-end remained active, with four closings above $10 million and a mix of classic Park Avenue co-ops, new development condos, and larger Upper West Side residences anchoring the top of the market.
The median condo sale price was $1.58 million, with a median condo price per square foot of approximately $1,532 among units reporting square footage. The median co-op sale price was approximately $865,000. Condos accounted for 99 closings, compared with 77 co-op closings and 3 condop sales, but condos drove roughly two-thirds of total dollar volume. Activity was again spread throughout the lower two-thirds of the island, though Lenox Hill had the highest number of transactions, bolstered by both co-op turnover and multiple closings at 255 East 77th Street.