Sule Aygoren Carranzais managing editor ofReal Estate Forum and editor of MultiHousing forum, from which this article is excerpted.
New York City—The slowdown in the housing marketnationwide apparently hasn't made a dent in the Big Apple'sresidential sector. According to Prudential Douglas Elliman,prices for cooperative units, condominiums, luxury residences andlofts in the city were at or near record levels at the end of Q32007, the most recent figures available.
Across the residential spectrum, the average price per sf for aunit was $1,144, a 9% increase from the $1,050 reported in Q3 2006and 0.4% higher than the $1,139 in the second quarter. For a unit,the average sales price came in at nearly $1.37 million, up 2.7%and 6.3% from the prior quarter and year, respectively, when theprice was $1.33 million and $1.29 million.
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