Thank you for sharing!

Your article was successfully shared with the contacts you provided.

If you own a co-op or condo in the Apple, maybe now’s the time to make it work for you. According to statistics newly released by Douglas Elliman, it’s a seller’s market, with average prices of a Manhattan apartment leaping by 42% in the second quarter over the same period last year.

The price tags are a new record, the report says, with average sales prices now hovering at $668,105 for a co-op and $1.04 million for a condo Overall, cooperative and condo going rates are rising by 31% and 53% respectively.

“It’s still a seller’s market,” says Elliman COO and managing director Paul Purcell. “In fact, average sales prices have accelerated at increases not seen in the past 10 years.

“Because of the strong demand,” he continues, “the average discount from list price is minimal, holding at just 1.7%.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.