Where Are People Buying New Condos in New York?

Although sales of new condominiums in New York City have been relatively slow in 2019 — the luxury market peaked around 2016 — apartments in brand-new buildings continued to move in the first six months of this year, especially in Manhattan.

A recent report by Property Shark identified the 15 new developments with the most units sold between Jan. 1 and June 30. Eleven of those 15 were in Manhattan, two were in Brooklyn and two were in Queens, while the Bronx and Staten Island didn’t make the list.

One Manhattan Square, the new 80-story tower next to the Manhattan Bridge on the Lower East Side, had the most sales with 121, at a median sale price of $1,647,651 — although with 815 total units, that accounted for just 15 percent of the building.

The Brooklyn building with the most sales was the Greenpoint, at 21 India Street, with 63 units sold at a median price of $1,535,456, making it the only building outside of Manhattan where the median price surpassed $1 million. In Queens, the Sunrise Forest Hills, at 109-19 72nd Road, sold the most units in the borough, 33, at a median price of $898,875.

With 22 units sold apiece, 150 Rivington and 220 Central Park South were tied for 15th place. 220 Central Park South’s median sale price was more than $31 million, no doubt raised by the record-breaking $240 million purchase in January by Kenneth Griffin, the highest price ever paid for a home in the United States.

Sahred From Source link Real Estate

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