City&Country: My Space– Rise in Manhattan property sales

Posted by Wei Min Tan on October 26, 2017

Publication:  The Edge Malaysia


Summary:  Wei Min Tan, Manhattan property broker originally from Malaysia, interviewed by The Edge, Malaysia’s leading independent business magazine.



The city’s major brokerage firms reported that prices in 4Q2009 in the Manhattan property market had decreased from a year ago while sales had risen. I expect this trend to continue into early 2010.

Prudential Douglas Elliman and Miller Samuel reported that the median sales price of an apartment in 4Q2009 was US$810,000 (RM2.7 million), down 10% compared to a year ago. There were 2,473 transactions, up 8.4% compared to last year, and 11% compared to last quarter. The activity is more than double the 1,195 transactions in 1Q2009. Average price psf was US$1,176, flat compared to a year ago. Brown Harris Stevens and Halstead, both owned by Terra Holdings, reported median price of US$800,000, 9% lower than a year ago. There were 2,519 sales, 9% higher than a year ago.

Contact Weimin

641 Lexington Avenue,
22nd floor,
New York, NY 10022

641 Lexington Avenue,
22nd floor,
New York, NY 10022

About Wei Min

  • Focuses on investors of Manhattan condominiums, interviewed by CNBC, CNN, Wall Street Journal, New York Times
  • Ex-Citibanker, managed $500 million portfolio
  • MBA, University of Illinois at Urbana-Champaign
  • Manhattan resident since 1999. Currently lives in Tribeca with wife and 2 kids
  • 352 burpees in 23 minutes, student of muay thai kickboxing

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