Manhattan luxury apartment prices rise by 4% as sales plunge
Manhattan luxury apartments rose by 4.6% in August compared with August 2016, according to data released by Real Estate Board of New York.
The luxury apartments that have increased are in the Manhattan area, as well as in the South Bronx and the Upper West Side.
The median price of an apartment in the luxury apartment category increased by $8,700, or 5.9%.
The average price of a Manhattan apartment rose by 2.2% in the same period, according a report by realtor firm Jones Lang LaSalle.
A New York Times report found that prices in Manhattan’s upscale high-end neighborhoods like Greenwich Village and Midtown Manhattan increased by 10.9% and 6.2%, respectively, in August, the highest increases of any metropolitan area in the country.
The median price for an apartment that includes a bath was up by 3.2%.
The average luxury condo price increased by 8.3% in this month’s report.