Manhattan apartment average sale prices, including both condos and co-ops, rose in September while the number of sales dropped from the previous month. Interestingly, September’s most notable sale was also its top sale — $87.6 million for a condo at 432 Park Avenue.
That sale was not only the priciest for the property so far, but indeed one of the most expensive in Manhattan’s history, according to a new report from real estate data site CityRealty.com. Last year’s sale of the penthouse unit in One57 for $100.5 million still ranks as the most expensive condo sale in Manhattan, as previously reported by BuzzBuzzNews.
The average sale price for a Manhattan apartment, including both condos and co-ops, was $2.4 million in September. This was up from the previous month’s average sale price of $1.9 million.
There were 925 total units sold in September for a gross sales total of $2.2 billion.
The average sale price of a Manhattan condo increased to $3.6 million in September from the previous month’s average price of $3 million. There were 442 Manhattan condo sales in September. More than half of September’s Manhattan condo sales were Downtown, totaling $858 million in sales.
Meanwhile, the average sale price of a Manhattan co-op increased slightly in September to $1.3 million from the $1.2 million recorded the previous month. A total of 483 co-ops were sold during the month of September.
The gap between the average sale price of a condo and co-op increased to $2.3 million in September from the previous month’s $1.8 million price gap.
The average sale price of new development condos rose 31 percent from last year to $7.1 million. This was an increase of 9 percent from the previous month. Aggregate sales of new development condos in September totaled $762 million. Downtown recorded 67 new development sales — the largest of all Manhattan regions — totaling $465 million in sales.
Click here to view the entire CityRealty.com report.