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Manhattan condo transactions up, but new unit sales still struggling: report
The amount of Manhattan condominium unit transactions increased 80.4 percent in March compared to the same month a year earlier, according to real estate research firm Radar Logic (see full report). This growth was due to the 146 percent uptick in the number of existing home sales, according to Radar Logic’s monthly market report, which showed that new unit sales actually decreased 31 percent year-over-year. In total, sales of new units comprised 14 percent of Manhattan condo sales in March. Only two Manhattan neighborhoods that Radar Logic tracks, the Upper West Side and East Village/Lower East Side, showed a year-over-year uptick in price, according to the report, increasing 4 percent and 3.2 percent year-over-year, respectively. TRD