Manhattan Home Prices
Posted by Wei Min Tan on June 12, 2023
Manhattan, New York home prices are based on whether the home is a condo or coop. Price per square foot of a condo is higher than for a coop because: a condo owner gets real estate title, does not require board approval and can rent out the apartment as desired without limitation.
The average sale price for a condo ranges from $908,991 for a studio apartment to $9,846,869 for 4+ bedroom apartments. Meanwhile, the average price per square foot ranges from $1,138 for a studio to $2,738 for 4+ bedroom apartments.
The average price per square foot for a co-op is roughly 50 percent lower than that of a condo. Average sale price for a co-op ranges from $553,734 for a studio to $5,109,433 for a 4+ bedroom apartment. The average price square foot ranges from $852 to $1,596. The entire Manhattan inventory is public information and can be accessed through websites like Streeteasy.com. All seller’s agents are require by the Real Estate Board of New York to list their property publicly within 24 hours of receiving the sale mandate.
We focus on representing buyers identify the right buy, negotiate the property and bringing the transaction to close. Do reach out to discuss how we can help with your search.
Weimin’s article: Manhattan Condo Historical Price Trend
What We Do
We focus on global investors buying Manhattan condos for portfolio diversification and long term return-on-investment.
1) Identify the right buy based on objectives
2) Manage the buy process
3) Rent out the property
4) Manage tenants
5) Market the property at the eventual sale
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