Manhattan townhouses see 2010 sales uptick

Both the single-family and multi-family Manhattan townhouse markets showed signs of improvement last year, according to the Corcoran Group, which released its first annual Townhouse Report today. In the single-family market, the number of sales climbed 68 percent year-over-year to 96, while the median sales price inched up 6 percent during the same time period, reaching $5.83 million. Multi-family townhouses, which Corcoran defines as housing two to four families, saw a more tepid level of activity. Although the number of sales roughly doubled year-over-year, with 100 multi-family townhouse unit sales in 2010, the median sales price remained relatively flat, dipping 3 percent to 1.65 million. The report, which excluded short sales and foreclosure sales, was based on data collected by Corcoran from both “internal and external resources, including public records.” As The Real Deal previously reported, the median sales price of townhouses jumped 13.2 percent between 2009 and 2010. TRD