CityRealty Year End 2014

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Manhattan real estate prices in 2014

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  • D E C E M B E R 1 7 , 2 0 1 4 Y E A R - E N D R E P O R T

    R E P O R T

    M A N H A T T A N

    MARKET

    C I T Y R E A LT Y

    YEAR-END

  • 2CityRealty is pleased to release its 2014 Manhattan market report.

    Methodology

    This report covers residential condominium and co-op sales recorded through November 30, 2014.

    All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). The city records deeds in ACRIS roughly three weeks after a sale has closed, so the report includes enough data from which to draw conclusions about sales trends and make projections through the end of the year.

    Projections concerning aggregate sales volume through the end of the year are based on data through the first 11 months of 2014 as well as December sale statistics from prior years.

    Pricing information for Manhattan does not include buildings north of 96th Street on the East Side, above 110th Street north of Central Park, and above 125th Street west of the Park.

    About CityRealty

    Established in 1994, CityRealty offers the most comprehensive data, analysis, and content available for the New York City real estate market, covering both sales and rentals. Additionally, CityRealty provides a free, personalized service for New York City apartment buyers and sellers, matching each customer to an agent with the precise expertise needed to find his or her perfect home. Further information about CityRealty is available at www.cityrealty.com.

    Gabby Warshawer, CityRealty Director of Research and Communications, welcomes any questions and comments regarding the New York City real estate market. She can be reached at [email protected] or by phone at 212-209-8809.

    Visit us at www.cityrealty.com for more sales information.

  • 3CITYREALTY YEAR-END REPORT December 17, 2014

    Summary

    The average sales price for co-ops and condos in 2014 was $1.8 million, topping the $1.6 million record set in 2008. The average price for a Manhattan apartment also represented a 17 percent increase from 2013's average of $1.5 million. Meanwhile, the median sales price of $967,338 increased 7.5 percent from 2013, when it was $900,000.

    Condo prices were also at an all-time high, with the average sales price at $2.4 million, a jump of 21 percent from the previous all-time peak of $2.0 million in 2013. The median sales price for condos, $1.5 million, also represented a major gain, increasing 9.9 percent from the record set in 2013, of $1.3 million.

    AVERAGE SALES PRICE

    2014: $1.8 Million 2013: $1.5 Million

    It was a record-setting year for Manhattan real estate as prices climbed to new highs, surpassing benchmarks set prior to the financial crisis of 2008.

    $1,431/ft2 $1,645/ft2CONDO AVERAGE PRICE/FT2

    20142013

    A Year of Records

    $1.27MAVERAGE SALES PRICE

    2013 2014

    CONDOS AND CO-OPS

    Average Condo Sales Price

    Prior Record : $2.0M (2013)

    $2.4M

    Average Condo Price/ft2

    Prior Record : $1,431/ft2 (2013)

    $1,645/ft2

    Most Expensive Co-op Sale

    Prior Record : $54.0 (2012)

    $71.3M

    Median Condo Sales Price

    Prior Record : $1.3M (2013)

    $1.5M

    Average Co-op Sales Price

    Prior Record : $1.25M (2008)

    $1.27M

    Most Expensive Downtown Condo Sale

    Prior Record : $42.0M (2013)

    $50.9M

    $2.0MAVERAGE SALES PRICE

    CONDO

    $2.4MAVERAGE SALES PRICE

    CONDO

    $1.25MAVERAGE SALES PRICE

    CO-OP CO-OP

  • 4CITYREALTY YEAR-END REPORT December 17, 2014

    Summary, Cont.Co-ops, too, had a banner year in 2014. The average price for co-ops was $1.27 million, 1.7 percent higher than the previous record of $1.25 million, set in 2008. This year's median sales price, $729,000, also set a record, increasing 5 percent from $695,000, the prior all-time high set in 2013.

    CityRealty projects that total condo and co-op sales volume will be approximately $22 billion in residential sales for the full calendar year of 2014, based on the $19.6 billion recorded through Nov. 30 and accounting for seasonality and properties currently in contract. Volume is on pace to be roughly $1 billion higher than the $21 billion recorded in 2013.

    In addition, CityRealty projects that there will be approximately 12,600 apartment sales through the end of 2014, a decline from the 13,900 recorded in 2013. There were 11,120 co-op and condo closings during the first 11 months of 2014.

    Through Nov. 30, 2014, sales of Manhattan apartments priced over $10 million have already reached an all-time aggregate high of $3.4 billion, with CityRealty projecting total sales will grow to approximately $3.8 billion by the end of the calendar year. The previous record of $3.3 billion was set in 2008.

    Building of the Year C I T Y R E A LT Y

    Readers of CityRealtys blog, 6sqft.com have been voting on the 2014 Building of the Year from a group of 12 of the years most newsworthy developments, towers that boast groundbreaking designs and record-breaking (or soon to be record-breaking) prices. The 12 buildings in the running are: One Madison, 520 Park Avenue, One57, 50 UN Plaza, Nordstrom Tower, The Baccarat, Woolworth Tower, 56 Leonard, 45 E. 22nd Street, 432 Park Avenue, 53W53, and Walker Tower.

    The winner will be announced later this month on 6sqft.com.

    RESIDENTIAL SALES2014: $22.0 Billion 2013: $21.0 Billion

    13,900 12,600

    Sales of $10 Million+ Apartments

    2013

    UNITS

    2014 (Projected)**

    UNITS

    Average Residential Sales Price

    Prior Record : $1.6M (2008)

    $1.8M

    Most Expensive UWS Co-op Sale

    Prior Record : $33.0M (2013)

    $42.0MProjected

    $3.8 Billion2014 (Projected)**

    $1.8 Billion123 Units 220 Units

    2013

    A Year of Records

    To Be Determined

    **

    ** Projected total for full 2014 calendar year.

  • 52004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    SALE

    PR

    ICE

    $2.0M

    $1.5M

    $1M

    $500K

    +99%

    Average and Median Sales Prices Since 2004 for Co-ops and Condos

    Transaction Volume Since 2004 for Co-ops and Condos

    CITYREALTY YEAR-END REPORT December 17, 2014

    Manhattan Residential Market

    3,000

    6,000

    9,000

    12,000

    15,000

    18,000

    # O

    F TR

    AN

    SAC

    TIO

    NS

    2013 2014**201220112010200920082007200620052004

    KEY: AVG PRICE MEDIAN PRICE

    Average and median sales prices for all residential units in Manhattanboth condos and co-opshave increased significantly since 2004.

    This year's average apartment price of $1.8 million is nearly double the 2004 figure of $906,785. This year's median price of $967,338 is 68

    percent higher than it was in 2004.

    PR

    OJ.

    AC

    TUA

    L

    ** Projected total for full 2014 calendar year.

  • 6CITYREALTY YEAR-END REPORT December 17, 2014

    Sales Breakdown

    Total Sales by Price, Year-by-Year

    KEY:

  • 7740 Park Avenue, #1213B

    960 Fifth Avenue, #PHB

    One57, 157 West 57th Street, #82

    One57, 157 West 57th Street, #81

    One57, 157 West 57th Street, #80

    Walker Tower, 212 West 18th Street, #PH1

    15 Central Park West, #1819B

    One Madison, 23 East 22nd Street, #PH

    The Prasada, 50 Central Park West, #12BC

    1136 Fifth Avenue, #PH/14C

    One57, 157 West 57th Street, #58A

    The Plaza, 768 Fifth Avenue, #901-903

    One57, 157 West 57th Street, #63A

    The Plaza, 768 Fifth Avenue, #807

    One57, 157 West 57th Street, #62A

    Walker Tower, 212 West 18th Street, #PH3/4

    1107 Fifth Avenue, #PH

    One57, 157 West 57th Street, #60A

    One57, 157 West 57th Street, #58A

    One57, 157 West 57th Street, #61A

    One57, 157 West 57th Street, #59A

    15 Central Park West, #33A

    Time Warner Center, 25 Columbus Circle, #64CE

    15 Central Park West, #37A

    One57, 157 West 57th Street, #66A

    BUILDING, UNIT

    $71.3 M

    $70.0 M

    $56.1 M

    $55.5 M

    $53.0 M

    $50.9 M

    $48.0 M

    $43.0 M

    $42.0 M

    $35.0 M

    $34.0 M

    $33.2 M

    $32.6 M

    $32.0 M

    $31.7 M

    $31.3 M

    $30.9 M

    $30.6 M

    $30.6 M

    $30.4 M

    $30.0 M

    $30.0 M

    $30.0 M

    $30.0 M

    $29.5 M

    CLOSING PRICE

    Co-op

    Co-op

    Condo

    Condo

    Condo

    Condo

    Condo

    Condo

    Co-op

    Co-op

    Condo

    Condo

    Condo

    Condo

    Condo

    Condo

    Co-op

    Condo

    Condo

    Condo

    Condo

    Condo

    Condo

    Condo

    Condo

    UNIT TYPE

    --

    --

    6,240 ft2

    6,240 ft2

    6,240 ft2

    6,275 ft2

    5,610 ft2

    6,850 ft2

    5,600 ft2

    --

    4,483 ft2

    4,641 ft2

    4,483 ft2

    5,047 ft2

    4,483 ft2

    7,058 ft2

    --

    4,483 ft2

    4,483 ft2

    4,483 ft2

    4,483 ft2

    3,103 ft2

    4,366 ft2

    3,093 ft2

    4,483 ft2

    SQUARE FEET

    --

    --

    $8,987/ft

    $8,894/ft

    $8,486/ft

    $8,114/ft

    $8,556/ft

    $6,279/ft

    $7,500/ft

    --

    $7,584/ft

    $7,154/ft

    $7,266/ft

    $6,340/ft

    $7,065/ft

    $4,436/ft

    --

    $6,815/ft

    $6,815/ft

    $6,792/ft

    $6,701/ft

    $9,669/ft

    $6,871/ft

    $9,699/ft

    $6,588/ft

    PRICE/FT2

    CITYREALTY YEAR-END REPORT December 17, 2014

    Top 25 Sales By Closing PriceThrough Nov. 30 the two top sales for the year are also the most expensive co-op sales in New York City history, for $71.3 million at 740

    Park Avenue and $70 million at 960 Fifth Avenue. The new development One57 accounted for the next three most-expensive sales, all of

    which were for units that fetched more than $50 million and above $8,000/ft2.

    Note: 2014 statistics are based on closings recorded through Nov. 30, 2014.

  • 8KEY: AVG CONDO SALE PRICE MEDIAN CONDO SALE PRICE

    CITYREALTY YEAR-END REPORT December 17, 2014

    Manhattan Condo Market

    $2.5M

    $3.0M

    $2.0M

    $1.5M

    $1.0M

    $500K

    SALE

    PR

    ICE

    2013 2014201220112010200920082007200620052004

    Average and Median Sales Price

    YEAR

    2014

    2013

    2012

    2011

    2010

    2009

    2008

    2007

    2006

    2005

    2004

    AVERAGESALE PRICE

    $2.4M

    $2.0M

    $1.9M

    $1.8M

    $1.8M

    $1.8M

    $1.8M

    $1.6M

    $1.3M

    $1.4M

    $1.2M

    GROSS SALES

    $11.4B

    $11.8B

    $9.9B

    $8.9B

    $9.7B

    $8.2B

    $14.7B

    $13.7B

    $9.2B

    $8.2B

    $7.0B

    AVERAGE PRICE/FT2

    $1,645 / ft2

    $1,431 / ft2

    $1,308 / ft2

    $1,263 / ft2

    $1,219 / ft2

    $1,226 / ft2

    $1,339 / ft2

    $1,236 / ft2

    $1,083 / ft2

    $1,078 / ft2

    $898 / ft2

    Sales Summary, Year-by-Year

    The average price of condos was a record $2.4 million through Nov. 30, 2014, increasing 21 percent from the previous all-time high, $2.0

    million, set just last year. The average price-per-foot for condos, $1,645/ft2, was also at a record high, up 15 percent from the prior record,

    $1,431/ft2, also set last year. The median sales price for condos, $1.5 million, has increased 90 percent from 2004, when it was $765,000.

    +111%

    Gross Sales by Neighborhood

    $1.6B$4.3M

  • 934+6+22+18+20CITYREALTY YEAR-END REPORT December 17, 2014

    Manhattan Condo Sales Summary

    Midtown (1,094)$2.5B

    22%

    UpperEast Side (780)$2.3BM

    20%

    UpperWest Side (817)

    $2.0B

    18%

    Financial District / BPC (588)$726M

    6%

    MIDTOWN

    DOWNTOWN

    UPPER WEST SIDE

    FINANCIAL DISTRICT / BPC

    UPPER EAST SIDE

    2014PRICE AVG*

    2014PRICE AVG*

    2014PRICE AVG*

    2014PRICE AVG*

    2014PRICE AVG*

    UNITS SOLD

    UNITS SOLD

    UNITS SOLD

    UNITS SOLD

    UNITS SOLD

    Beekman/ Sutton PlaceMidtown EastMidtown WestMurray HillTurtle Bay/ United Nations

    Broadway Corridor Central Park West Lincoln Center Riverside Dr. / West End Ave.

    Battery Park CityFinancial District

    Carnegie HillLenox HillPark/Fifth Ave. to 79th St.Yorkville

    *Percentage changes are calculated over the same 11 month period of 2013.

    $1,226 / ft2 (+11%)$1,505 / ft2 (+6%)$1,945 / ft2 (+34%) $1,384 / ft2 (+8%) $1,240 / ft2 (+5%)

    $1,534 / ft2 (+16%)$2,269 / ft2 (+36%)$1,646 / ft2 (+6%)$1,535 / ft2 (+11%)

    $1,183 / ft2 (+18%) $1,226 / ft2 (+11%)

    $1,762 / ft2 (+1%)$1,577 / ft2 (+9%)$2,676 / ft2 (+2%)$1,194 / ft2 (+9%)

    30126527306105

    255193144220

    178410

    108371102183

    AV

    G P

    RIC

    E / F

    T2

    $2,400

    $2,000

    $1,600

    $1,200

    MANHATTAN FLATIRON/UNION SQUARE

    KEY

    2014 Total Sales by Region

    Top Price Gainer : Flatiron / Union Square

    Downtown (1,401)$3.9B

    34%

    ChelseaEast VillageFlatiron / Union SquareGramercy ParkGreenwich VillageLower East SideNoHoNoLiTa/Little ItalySoHoTribecaWest Village

    $1,772 / ft2 (+7%) $1,564 / ft2 (+17%) $2,168 / ft2 (+40%)$1,645 / ft2 (-4%)$1,794 / ft2 (+2%)$1,152 / ft2 (+15%)$1,926 / ft2 (+1%)$1,751 / ft2 (+13%)$1,987 / ft2 (+10%)$1,680 / ft2 (+8%)$2,110 / ft2 (+6%)

    3561651421156552132592

    275101

    2013 2014

    Condo prices in Flatiron/Union Square rose 41% in 2014, more than any other neighborhood. This increase is largely attributable to high-priced closings at One Madison. The graph below compares prices in the neighborhood to prices in Manhattan.

  • 1 0

    One57, 157 West 57th Street

    One Madison, 23 East 22nd Street

    15 Central Park West

    737 Park Avenue

    Walker Tower, 212 West 18th Street

    93 Worth Street

    530 Park Avenue

    200 East 79th Street

    Manhattan House, 200 East 66th Street

    The Marquand, 11 East 68th Street

    The Jefferson, 211 East 13th Street

    Time Warner Center, 25 Columbus Circle

    135 East 79th Street

    150 East 72nd Street

    The Plaza, 768 Fifth Avenue

    101 Warren Street

    Baccarat Hotel & Residences, 20 West 53rd Street

    Mirabeau, 165 West 91st Street

    Philip House, 141 East 88th street

    30 Lincoln Plaza, 30 West 63rd Street

    Park Columbus, 101 West 87th Street

    160 East 22nd Street

    Printing House, 421 Hudson Street

    Riverhouse - 1 Rockefeller Park, 1 River Terrace

    The Apthorp, 2211 Broadway

    38

    42

    15

    26

    20

    81

    33

    27

    42

    9

    79

    11

    7

    13

    11

    23

    17

    39

    18

    22

    28

    46

    31

    24

    12

    $758.7 M

    $361.9 M

    $252.7 M

    $247.7 M

    $244.9 M

    $160.6 M

    $156.1 M

    $146.1 M

    $144.6 M

    $143.0 M

    $136.7 M

    $133.7 M

    $113.3 M

    $111.1 M

    $105.5 M

    $105.1 M

    $94.0 M

    $93.7 M

    $92.4 M

    $87.9 M

    $86.0 M

    $83.5 M

    $79.1 M

    $68.3 M

    $66.0 M

    $5,566/ft

    $3,179/ft

    $6,409/ft

    $3,066/ft

    $3,672/ft

    $1,447/ft

    $2,661/ft

    $2,018/ft

    $1,972/ft

    $3,959/ft

    $1,720/ft

    $5,382/ft

    $3,627/ft

    $3,023/ft

    $4,178/ft

    $2,228/ft

    $3,317/ft

    $1,516/ft

    $2,296/ft

    $2,334/ft

    $1,637/ft

    $1,912/ft

    $2,074/ft

    $1,674/ft

    $2,088/ft

    BUILDING, UNIT GROSS SALES# OF

    TRANSACTIONS AVG PRICE/FT2

    CITYREALTY YEAR-END REPORT December 17, 2014

    Top 25 Condo Buildings By Gross SalesFor the first 11 months, the top-selling new development, One57, grossed $759 million with 38 units sales at an average price of $5,566/

    ft2. There were two closings at the building in 2013, bringing the total number of closed sales to 40 of its 92 units. One Madison was the

    second-highest selling building, with $361.9 million in closings and an average price of $3,179/ft2.

    Note: 2014 statistics are based on closings recorded through Nov. 30, 2014.

  • $6,409 / ft2

    $5,712 / ft2

    $5,566 / ft2

    $5,382 / ft2

    $4,617 / ft2

    $4,178 / ft2

    $3,959 / ft2

    $3,672 / ft2

    $3,627 / ft2

    $3,535 / ft2

    $3,438 / ft2

    $3,317 / ft2

    $3,209 / ft2

    $3,179 / ft2

    $3,066 / ft2

    $3,062 / ft2

    $3,027 / ft2

    $3,023 / ft2

    $3,009 / ft2

    $2,761 / ft2

    1 1

    15 Central Park West

    The Mandarin Oriental

    One57

    Time Warner Center

    One Beacon Court

    The Plaza

    The Marquand

    The Walker Tower

    135 East 79th Street

    22 Central Park South

    99 Jane Street

    The Baccarat

    40 Mercer Street

    One Madison

    737 Park Avenue

    Trump International

    The Mayfair

    150 East 72nd Street

    The Century

    Laureate

    80 COLUMBUS CIRCLE

    157 WEST 57TH STREET

    25 COLUMBUS CIRCLE

    151 EAST 58TH STREET

    768 FIFTH AVENUE

    11 EAST 68TH STREET

    212 WEST 18TH STREET

    20 WEST 53RD STREET

    23 EAST 22ND STREET

    1 CENTRAL PARK WEST

    610 PARK AVENUE

    25 CENTRAL PARK WEST

    2150 BROADWAY

    15 SALES

    3 SALES

    38 SALES

    11 SALES

    2 SALES

    11 SALES

    9 SALES

    20 SALES

    7 SALES

    3 SALES

    3 SALES

    17 SALES

    6 SALES

    42 SALES

    26 SALES

    7 SALES

    2 SALES

    13 SALES

    9 SALES

    5 SALES

    CITYREALTY YEAR-END REPORT December 17, 2014

    Most Expensive Condo Buildings By Price/ft2Prices at two buildings completed between 2000 and 201015 Central Park West and The Mandarin Orientalwere on average higher on

    a per-square-foot basis than the many new developments that opened in 2014. At 15 Central Park West the average price was $6,409/ft2

    and at the Mandarin Oriental it was $5,712/ft2. New development One57 was the third-most-expensive building in the city, with an average

    price of $5,566/ft2.

  • 1 2

    2014

    2013

    2012

    2011

    2010

    2009

    2008

    2007

    2006

    2005

    2004

    YEAR AVG PRICE/FT2 AVG PRICE/FT2

    $1,646 /ft2

    $1,429 /ft2

    $1,308 /ft2

    $1,255 /ft2

    $1,210 /ft2

    $1,226 /ft2

    $1,339 /ft2

    $1,236 /ft2

    $1,083 /ft2

    $1,078 /ft2

    $898 /ft2

    $3,755 /ft2 (+10.8%)

    $3,388 /ft2 (+4.2%)

    $3,253 /ft2 (+19.6%)

    $2,720 /ft2 (-5.7%)

    $2,884 /ft2 (+5.2%)

    $2,740 /ft2 (-16.8%)

    $3,294 /ft2 (+15.2%)

    $2,860 /ft2 (+24.0%)

    $2,306 /ft2 (+10.0%)

    $2,097 /ft2 (+17.4%)

    $1,787 /ft2

    TOTAL # OF SALES

    4,650

    5,877

    5,280

    4,945

    5,390

    4,635

    7,991

    8,536

    7,206

    5,707

    5,988

    # OF SALES

    302 (+67.8%)

    180 (+11.1%)

    162 (-10.0%)

    180 (+0.6%)

    179 (-9.6%)

    198 (-43.9%)

    353 (+2.3%)

    345 (+113.0%)

    162 (-46.5%)

    303 (-3.8%)

    315

    NOTE: Percentage changes are calculated over the prior year.

    TOP 25 BUILDINGS

    CITYREALTY YEAR-END REPORT December 17, 2014

    Pricing of Top 25 Condo Buildings

    AV

    G P

    RIC

    E/FT

    2

    20112010200920082007200620052004 20132012 2014

    $3,500

    $4,000

    $3,000

    $2,000

    $2,500

    $1,000

    $500

    $1,500

    +110%Avg Price/ft2

    Top 25 Condos2004 - 2014

    KEY: TOP 25 CONDOS ALL MANHATTAN CONDOS

    Prices at the top 25 most-expensive condo buildings in Manhattan -- as ranked by price-per-square-foot

    -- have increased at a faster rate than overall condo prices since 2004. The average price at the 25 most

    expensive buildings increased from $1,787/ft2 in 2004 to $3,755/ft2 in 2014, which represents a rise of 110

    percent. By comparison, prices at all condos in the city have increased 83 percent since 2004, from $898/ft2

    to the current $1,646/ft2.

  • 1 3

    Average and Median Sale Price

    $1.4M

    $1.0M

    $1.2M

    $800K

    $600K

    $400K

    $200K

    SALE

    PR

    ICE

    CITYREALTY YEAR-END REPORT December 17, 2014

    Manhattan Co-op Market

    YEARAVERAGE

    SALE PRICEGROSS SALES

    2014*

    2013

    2012

    2011

    2010

    2009

    2008

    2007

    2006

    2005

    2004

    $1.27M

    $1.1M

    $1.2M

    $1.2M

    $1.1M

    $972K

    $1.25M

    $1.1M

    $1.0M

    $892K

    $755K

    $8.2B

    $9.1B

    $8.4B

    $6.8B

    $3.1B

    $4.8B

    $7.6B

    $9.1B

    $8.0B

    $8.0B

    $7.4B

    2013 2014201220112010200920082007200620052004

    Through Nov. 30, 2014, the average sales price for co-ops was $1.27 million, the highest on record, edging out the previous record of $1.25

    million, which was set in 2008. The median sales price for co-ops, $729,000, increased 52 percent from 2004, when it was $480,095.

    +68%

    KEY: AVG CO-OP SALE PRICE MEDIAN CO-OP SALE PRICE

    Gross Sales by Neighborhood Sales Summary, Year-by-Year

    $1.1B$12.7M

  • 1 4

    CITYREALTY YEAR-END REPORT December 17, 2014

    New DevelopmentsSales in new development condominiums increased significantly in 2014. There were 737 new development sales through Nov. 30, 2014, a 91 percent increase from the same 11-month period in 2013, during which 386 sales were recorded, and a 46 percent increase from the full 2013 calendar year, when there were 505 new condo sales. New developments sold for an average price of $2,200/ft2, a 14 percent increase from 2013, when the average price was $1,927/ft2.

    36+1+28+29+6REGION TOTAL SALES

    TOTAL UNIT SALES

    AVERAGEPRICE/FT2

    Downtown

    Financial District-BPC

    Midtown

    Upper East Side

    Upper West Side

    YEARTOTAL

    UNIT SALESAVERAGEPRICE/FT2

    2014*

    2013

    AVERAGESALES PRICE

    $4.8M

    $4.2M

    737

    505

    $2,200/ft2

    $1,927/ft2

    Sales Summary

    New Developments by Region

    Downtown$1.3B

    36%

    Financial District/BPC$26M

    1%

    Upper West Side$217M

    Upper East Side$1.0B

    Midtown$975M

    6%

    29%

    28%

    Top 10 New Developments by Gross SalesBUILDING, ADDRESS GROSS SALES TOTAL UNIT SALES AVERAGE PRICE/FT2AVERAGE SALE PRICE

    1. One57 157 West 57th Street

    2. One Madison 23 East 22nd Street

    3. 737 Park Avenue

    4. Walker Tower 212 West 18th Street

    5. 93 Worth Street

    6. 530 Park Avenue

    7. 200 East 79th Street

    8. The Marquand 11 East 68th Street

    9. The Jefferson 211 East 13th Street

    10. 135 East 79th Street

    $758.7M

    $361.9M

    $247.6M

    $244.9M

    $160.6M

    $156.1M

    $146.1M

    $143.0M

    $136.7M

    $113.3M

    38

    42

    26

    20

    81

    33

    27

    9

    79

    7

    $20.0M

    $8.6M

    $9.5M

    $12.2M

    $2.0M

    $4.7M

    $5.4M

    $15.9M

    $1.7M

    $16.2M

    $5,566 /ft2

    $3,179 /ft2

    $3,066 /ft2

    $3,672 /ft2

    $1,447 /ft2

    $2,661 /ft2

    $2,018 /ft2

    $3,959 /ft2

    $1,720 /ft2

    $3,627 /ft2

    $1.3B

    $26M

    $975M

    $1.0B

    $217M

    $1,921 / ft2 (-1%)

    $1,030 / ft2 (-8%)

    $3,335 / ft2 (+83%)

    $2,670 / ft2 (+10%)

    $1,510 / ft2 (+26%)

    378

    20

    109

    141

    89

    NOTE: Percentage changes are calculated over the prior year.

    8.6% 15.7%

    % of Total Condo Sales

    2014*

    737 OF 4,681 UNITS

    2013

    505 OF 5,906 UNITS

    * 2014 statistics are based on closings recorded through Nov. 30, 2014

  • 1 5

    Gabby Warshawer, CityRealty Director of Research and Communications, welcomes any questions and comments regarding the New York City real estate market. She can be reached at [email protected]

    or by phone at 212-209-8809.

    All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no property included in this report shall the number of bedrooms listed be considered a legal conclusion.

    Visit us at www.cityrealty.com for more sales information.

    Note: Pricing information for Manhattan does not include buildings north of 96th Street on the East Side, above 110th Street north of Central Park, and above 125th Street west of the Park.