Articles on NYC Condo Prices

Value Psychology for the Poshly-Priced Apartment

Buyers are purchasing apartments in Manhattan at higher prices than ever beforeDrop the name “One57” and you’ll get a reaction--likely because the penthouse’s sale price of over $90 million broke the record set by Dmitry Rybolovlev at 15 Central Park West. For homes as unique as the penthouse of the media’s favorite residential building, it is difficult to determine how this near-billion-dollar value materialized. In the upper echelons of real estate, the difference between the digits in front of the zeroes quickly becomes blurred and less a matter of pricing and assessment than marketing and subjectivity.

Upper East Side Mansion Joins the Ranks of the Highly Priced

828 Fifth Avenue, initially made for coal baron Edwin Berwind, is up for sale for $72 millionLuxury condo sales on Manhattan’s Upper East Side certainly tend to lean on the side of the grandiose. The latest addition to this trend is a co-op turned partial mansion at 828 Fifth Avenue.  Of the 9 total apartments that exist within the property, 4 are now on sale for the grand total of 72 million dollars. As a whole, the property would include 2 floors of the co-op, a maisonette duplex, and a penthouse complete with terrace and rooftop. The mansion is billed as potentially one of the greatest pieces of real estate that exists in Manhattan, a title that would live up to the price that this Upper East Side mansion carries.

The Price Elevator: Just How Much Do NYC Condo Prices Rise Alongside Floor Numbers?

NYC Condo Prices Alongside Floor NumberThere are various reasons why condo prices generally go up the higher the elevator climbs -- Manhattan views, distance from Manhattan street noise, Manhattan views, generous helpings of natural light, and Manhattan views. But while it's generally accepted that NYC condos climb in price by floor level, the question of just when the prices go up -- and just where -- is one that's a bit less clear. In The Real Deal, Matthew Strozier does his best to crack the code of NYC condo prices by floor. What he found will... actually probably not surprise you all that much if you've ever paid much attention to Manhattan real estate. But it is interesting to see what Strozier came up with.

The Comeback Continues: NYC Real Estate Market Coming Back, But NYC Condos Still Relatively Cheap

NYC Real Estate Market PricesAnother day, another sign that the Manhattan real estate market is on the rebound. At the risk of overstating things -- or of stating the same thing too darn often -- what's important to note here is that while the market for Manhattan apartments is notably improved over its 2009 status, the median price for NYC condos is still comparatively cheap. Again, that's relative to what the price of a Manhattan condominium was in 2008, but... does anyone even remember 2008? It was weird. The Phillies won the World Series and frankly with a few exceptions it's probably better just to forget the whole thing. Anyway, off-topic. What's important: the market for NYC condos is pretty clearly on the rebound, but the prices for NYC condos don't seem to reflect that yet. Check the numbers: