Prudential Douglas Elliman released its Q3 Market Overviews this week. In Manhattan and Queens, prices are falling slower in comparison to last quarter, and inventory is still down.
In co-ops, neighborhood averages across Manhattan all fell below $1,000 a square foot. The price decline in the East side of Manhattan was the steepest, now at $918, down 19.8 percent. Meanwhile, co-op sales in Queens shot up 1,107 sales this quarter compared to 615 last. And the average sales price is $218,299.
Finally—condos are moving. There’s been a sharp increase this quarter from last with 1,235 sales or re-sales vs. 804 of last. They are spending longer on the market and more discounts are being applied.
Sales
360 Furman St., a condo building in Brooklyn Heights, just listed six units (around $480,000 for a 899 sq. ft. studio). At this address are 61 units. The property faces straight out to Downtown Manhattan.
135 West 89th St. 15 in the Upper West Side ($250,000 for two beds, one bath). It is pet friendly, includes kitchen appliances, and is not far from the 1 subway line. Just listed, it has already been saved by two Streeteasy users.
Here's something you don't see every day—a listing from Far Rockaway. 160 Beach 97th St. has two listings—one at $389,000 for 1,025 sq. ft./two beds, two baths and the other at $498,800/two beds, two baths. They have a rent-to-own option. Not far from the A train, either.
Only eight sales were recorded for the past seven days. Six were in Manhattan, three in Brooklyn, and one in Staten Island.
Rentals
$1,300 for a studio on the Upper East Side? With one month free? The apartment at 511 East 75th and York Ave. is offering just that. The property is listed by Rent Manhattan.
Tiny half-bedroom, one bath 425 East 80th St. in Yorkville was listed Wednesday for $1,550 (no fee). The listing says the apartment has “oversized medicine cabinets and [a] banjo counter.” A banjo countertop, I just learned, is a compact shelf, shaped like half a banjo.
New Developments
Windows on 123rd St. in Central Harlem dropped prices on 20 of its 26 listings this week. The condo, which capitalizes on its views, has a median unit price of $799,000 for a 1,311 sq. ft. two-bedroom.
Less centrally located is West 15th St. in Gravesend in Brooklyn. This week it decreased the price on seven of its 12 units. Now the average list price is $479,583 for a three-bedroom.
Century Vintage at 100 Engert Av. in Williamsburg is actually raising its prices. There are six increases and no decreases this week. The building blends old and new elements to create a vintage feel. It's listed by Williamsburg real estate authority Aptsandlofts.com.
