Manhattan townhouse market picking up

TRD New York /
Apr.April 12, 2010 02:05 PM

The pricey Manhattan townhouses that have been languishing on the market during the downturn are reportedly beginning to get more bites. Brokers and owners are anecdotally noticing more interested buyers and first-quarter numbers show that townhouse sales doubled to 41 this year, compared with the same period in 2009, according to Streeteasy.com. The number of signed contracts has tripled to 33. At the peak of the market, prices skyrocketed as the city’s relatively tiny supply of townhouses met with plenty of buyers with pockets that were eight figures deep. When the buyers disappeared, sales activity dipped by more than 40 percent. Lately, steep price cuts appear to be fueling the upturn. The four-story home at 234 West 11th Street, which has been on the market for three years, is now listed for $7.85 million, a 19 percent cut from its original asking price. A home at 12 East 63rd Street just went into contract for $24.5 million, 15 percent below its listing price two years ago. [Crain’s]


Related Articles

arrow_forward_ios
135 Joralemon Street in Brooklyn Heights and 48 2nd Place in Caroll Gardens (Credit: Wikipedia)

Brooklyn luxury market saw 15 contracts signed last week

130 Furman Street and 296 Sixth Avenue in Brooklyn

Brooklyn’s luxury market saw 22 contracts close above $2M last week

The state of new development, according to those who build and sell it

The state of new development, according to those who build and sell it

83 1st Place in Carroll Gardens and 952 East 9th Street in Midwood (Credit: Google Maps)

Brooklyn’s luxury market saw 16 contracts above $2M signed last week of May: Stribling

REBNY president John Banks and Zillow CEO Richard Barton (Credit: iStock)

Two years after Premier Agent fracas, NYS regulators tighten rules for online ads

From left: Robert Reffkin, Elizabeth F. Stribling, Elizabeth Ann Stribling-Kivlan, and Compass COO Maelle Gavet; Inset, from left: Linda Maloney and Megan Scott

Two months after Compass deal, Stribling’s seeing a string of departures

The interiors of 16 Sidney Place and 15 Willow Street in Brooklyn

Brooklyn’s luxury market saw 20 contracts close above $2M last week: Stribling

215 Clinton Avenue and 16 Grace Court Alley in Brooklyn (Credit: Google Maps)

Brooklyn’s luxury market saw 15 contracts close above $2M last week

arrow_forward_ios