Manhattan Apartment Prices First Quarter 2009
Of course there was significant variation in sales prices across different property types. In particular, the median resale price for co-op studios was $375,000. The median resale price for a one-bedroom co-op apartment was $587,000 while the median resale price for a two-bedroom co-op apartment was $994,000. The median resale price for co-op apartments with three or more bedrooms was $2,680,000. In terms of condo apartments, CitiHabitats reports that condo studio median resale price stood at $543,000 in the first quarter of 2009, while one-bedroom condo apartment median price was $825,000. The median price of a two-bedroom condo stood at $1,403,000 in the first quarter of 2009, while the median price for a 3+ bedroom stood at $3,600,000. Manhattan apartment prices varied considerably across locations as well in the first quarter of 2009. According to the CitiHabitats report, the highest median resale price for a two-bedroom condo apartment was recorded in East Side reaching $1,750,000. The highest median resale price for a one-bedroom apartment was recorded in Downtown Manhattan reaching $855,000. Finally, the highest median resale price for a condo studio was recorded also in Downtown Manhattan reaching $655,000.
Although CitiHabitats has a sales report also for the fourth quarter of 2008, we avoided in presenting or discussing any trends since price levels reported by apartment type represent the median and there is no control for changes in the quality mix of apartments sold in each quarter.
|
