CityRealty launches “Dow Jones for apartments”

New ranking monitors performance of NYC condo buildings
March 04, 2013 05:30PM

CityRealty, the online real estate listings site, today launched a revamped website that includes a ranking that monitors the top performing “blue chip” condominium properties in New York City. And surprisingly, the No. 1 spot today goes to the Residences at the Ritz Carlton on Central Park South, as Crain’s noted.

A resource for wealthy purchasers and brokers, the so-called CityRealty 100 includes information on apartment price ranges, number of available units and price per square foot of the available space, on properties that include 15 Central Park West and the Time Warner Center. Relying on daily updates, the ranking is based on a formula that tallies apartment sales price per square foot and the property’s amenities, to name a couple of indices, according to Crain’s.

“It’s a good broader benchmark, not only for people buying these units but just looking at the market, kind of like a Dow Jones for apartments,” CityRealty general manager Jim Schoenberg told Crain’s.

The new site also includes rankings on individual neighborhoods and top boutique condos and building tours of select properties with Google Earth integration spanning the Financial District to the Upper West Side.

Another new tool on the site allows users to load graphs that show a neighborhood’s sales history, or a building’s sales history, with price per square foot comparisons, the New York Observer noted. —Zachary Kussin