New York Real Estate Market Report Week of May 18-25

May 26, 2010 Updated: October 1, 2015

One of the most expensive properties sold in Manhattan last week was this condo at 5 East 44th Street for $2,674,630. The two bedroom, two and a half bathroom penthouse has a spacious 2,308 sq. ft. plus 400 sq. ft. of exterior space. (Aloysio Santos/The Epoch Times)
One of the most expensive properties sold in Manhattan last week was this condo at 5 East 44th Street for $2,674,630. The two bedroom, two and a half bathroom penthouse has a spacious 2,308 sq. ft. plus 400 sq. ft. of exterior space. (Aloysio Santos/The Epoch Times)
Forty-six sales were recorded in New York City in the last seven days, according to the real estate site StreetEasy.

The most expensive sale this week was a three-bedroom, four and a half bathroom co-op at 983 Park Ave. on the Upper East Side, going for $7.1 million. The majority of sales this week were co-ops. Only three houses and eight condos were sold this week. The Upper East Side and Sutton Place were among the neighborhoods to sell the most properties.

The least expensive residential property sold this week was co-op in Rego Park, at 62-64 Saunders St., going for $162,500.

Listings

Sales listings were at 23,511 residential properties, with 816 listings added in the past week.
The median price for listings across all boroughs is $649,900, with median size at 1,194 square feet and median price per square foot at $699.

A newly renovated co-op in the Butterfield House became available this week. The original four-bedroom, three and a half bathroom Greenwich Village co-op was renovated into a three-bedroom, three and a half bathroom home, overlooking the gardens of adjacent townhouses. The windows offer viewers a scene of green treetops. Features of the building include a central laundry room, concierge, and gym. This residential property is going for $3,395,000.

The least expensive residential property available in Manhattan was a one-bathroom studio condo in Yorkville. With 458 square feet, this $40,000 studio located at 455 E. 86th St., comes with a marble bathroom and Jacuzzi. The building includes concierge service, a pool, and a children’s playroom, among other services. It is not too far from public transportation, “a few steps away” actually, and also walking distance from Carl Schurz Park.

The least expensive residential property available in the Bronx offers a two-bedroom, one-bath condo for $15,000 more, at $55,000. Located at 775 Jennings St., this condo offers hardwood floors and ample closet space.

For residential properties in Manhattan, the median price is $975,000, the median size is 1,081 square feet, and the median price per square foot is $1,026. In the Bronx, residential properties are at a median price of $299,000, with median size at 1,060 square feet, and median price per square foot at $282.

$1.5 Million Property

Buyers looking to spend in the $1.5 million range will have 56 listings to choose from this week. A co-op on the Upper West Side for $1.5 million offers buyers two bedrooms, two bathrooms, and a fireplace. In the Financial District, $1.5 million is the listing price for a 1,200-square foot one-bedroom, one and a half bathroom spot in the famed Cipriani Club Residences at 55 Wall St. A private restaurant and bar, wine cellar, library, barbershop, fitness center, spa, garden, and butler service are extensions of the Cipriani Residence.

At $1.5 million, buyers can get Manhattan residential property at a median size of 1,302 square feet and at a median price of $1,151 per foot.

Rentals

If you’re looking to rent, there are currently 9,864 listings available from this week.

The median price of rental property is $2,700, with median size at 838 square feet. The median price per square foot of a rental property is $48.

For $5,100 a month, renters can rent a two-bedroom, two-bathroom apartment in Times Square. The apartment comes with a private balcony, 24 hour doorman, and concierge service, a gym and is within walking distance of public transportation.
New Developments

The Apthorp, located at the heart of the Upper West Side, experienced price increases in 17 of its units. Known for its historical feel, the Apthorp has prices ranging from about $1.5 million to $16 million. The building offers original herringbone wood floors, hand cut mosaic tile entry foyers and hand crafted ceiling moldings, which are currently being restored. The building infrastructure is being upgraded.

The Isis, on the Upper East Side, experienced decreases in 15 of its 30 units. With prices ranging from $1.4 million and $5.3 million, the Isis is located at 303 E. 77th St. Each floor is home to only two condominiums in this boutique-style complex.