2013 has been a banner year for Manhattan condos. Price per square foot is at a record $1,400, there has been a shortage of inventory and yes, prices are way above the prior peak.
Price records were shattered, for example, when hedge fund investor Bill Ackman and a group of investors paid more than $90 million for a unit at Extell's One 57. This shows even the top hedge fund guys know about the incredible performance of Manhattan condos.
Key trends to look out for in 2014, according to The Real Deal magazine, include interest rate increases, the new mayor Bill de Blasio, Midtown East rezoning, the new wave of condominiums coming on the market and redevelopment of the South Street Seaport.
