Q2, 2016 Manhattan Market Performance

By Wei Min Tan


1) Average price per sqft of a Manhattan Condo was $2,073, up 30 percent compared to a year ago.  The average Condo apartment was $2.758 million in Q2.  This is skewed upwards as driven by new development closings.  

Manhattan condominiums outperformed in 2015

By Wei Min Tan

​Jan 7, 2016

Global investors who have already invested in a Manhattan, New York condominium have reason to be cheerful.  In 2015, Manhattan condo apartments far outperformed major global indices.

Manhattan, New York property investment performance

Manhattan, New York property has always been a destination for foreign buyers because of the associated brand recognition and for the price stability.  Top reasons cited by our foreign investor clients buying apartments in Manhattan include investment diversification, stable appreciation, brand recognition and limited supply.

The media likes to talk about $10 million to $50 million Manhattan apartments because of sensationalism.  In reality, 85 percent of transactions in Manhattan are for apartments priced less than $5 million.  Still, the median Manhattan condominium price at $1.3 million is about seven times (7x) the median US house price.  The average price per square foot of a Manhattan condo was $1,500 in 3Q'2014.