Manhattan home prices rose 8.7% in April

A weekly feature bringing you the industry's latest intel
By Christian Bautista | June 06, 2018 05:33PM

Manhattan homes (Credit: Getty Images)

Residential

Sales | Maxwell Jacobs

The Manhattan market continues to soften. In May, the number of active listings in the borough rose 10.4 percent compared to the same month last year. This coincided with a significant drop in closed sales. During the period, the number of sales in the borough stood at 508 transactions, which amounts to a 34.2 percent year-over-year decline. Read the report here.

Sales | CityRealty

The average sales price for all homes in Manhattan rose 8.7 percent in the four weeks leading to May 1. During the period, the average price for homes in the borough was at $2.3 million, with condos averaging $3.5 million and co-ops averaging $1.3 million. The building with the most aggregate sales was the Four Seasons Private Residences at 30 Park Place, which generated $94 million in four transactions. Read the report here.

Sales | Olshan

There were 22 contracts at $4 million and above that were signed in Manhattan between May 28 and June 3. This marks the 18th consecutive week that the borough posted 20 sales or more. The most expensive contract was for the penthouse unit at 52 Wooster Street, which was sold with an asking price of $13.9 million. Read the report here.

Commercial

National Self Storage Report | Yardi Matrix

New York submarkets Brooklyn and White Plains saw self-storage rent increases in April. During the period, Brooklyn rents rose 10 percent while White Plains registered an 8 percent increase. The increases defied a 2 percent drop in the nationwide average. Read the report here.