NEW YORK—New York City residential sales are on the rise according to a first-quarter report by the Real Estate Board of New York (REBNY) released Monday.
The total dollar value of residential real estate sales increased over 63 percent compared to the first quarter of 2009, the report said. Sales volume was also up by 52 percent compared to the first quarter of 2009. Total sales for this quarter added to $7.2 billion.
“Typically, the first quarter has slower sales activity than the last quarter of the year,” Steven Spinola, REBNY president, said in a statement. “I think this decline is an indication that we are returning to a more normal and healthy market and the unusually harsh winter we had. The growth in sales volume we have seen over the last year reflects a real positive trend and the worst is behind us.”
Recorded Sales
The last seven days drummed up 49 sales throughout the five boroughs, including two commercial units, according to real estate site StreetEasy. The most expensive sale was a 1,765 sq. ft. condo at 70 Washington St., DUMBO, Brooklyn. This 2-bedroom, 3-bathroom penthouse went for $3,850,000. Previously, it had been on the market for $4,200,000.
The building at 70 Washington St. is a high-end 2005 conversion of a 1915 factory and has 259 units. Another two condos are currently in contract and a further 20 are for sale.
The least expensive sale in the last seven days was a $63,000 co-op at 2081 Cruger Ave. in the Bronx.
Five Most Expensive Sales in the Last 7 Days
