Report sees brisk sales of Manhattan luxury apartments
According to reports in December 2014, the average price of a condo or co-op in Manhattan is $1.8 million. These buildings are long First Street between First and Second avenues in the East Village on Sept. 10, 2014. Credit: Linda Rosier
A new report says the market for Manhattan condos and co-ops is setting records this year.
One reason: Strong sales of units costing more than $10 million.
A real estate listings and data firm, CityRealty, says the average sales price for co-ops and condos will be around $1.8 million this year. Last year it was $1.5 million. A record of $1.6 million was set in 2008.
According to The Wall Street Journal, it's predicted 220 apartments will be sold this year with price tags of more than $10 million. Last year, the total was 123.
