The average price for a Manhattan apartment reached a record level in the fourth quarter of 2014, according to a new report from Halstead Property.
Prices rose 8 percent in the last quarter to an average of $1,728,831, breaking the previous record of $1,700,581 set in the first quarter of the year.
Cooperative apartments sold for an average of $1,174,683 in the final quarter of 2o14, up 3 percent from 2013. Three-bedrooms and larger were the only category to experience lower averages year-over-year. Studios and one- and two-bedroom co-ops all posted higher averages over the same time last year.
The average sale price for condominiums in the fourth quarter increased by 8 percent, to $2,421,658, compared to the same period in 2013. Three-bedrooms and larger had a 31 percent jump in the final quarter compared to 2013.