Condo prices continue to rise as city avoids a winter chill.Median prices for Manhattan Manhattan, indigenous people of North America Manhattan (mănhăt`ən), indigenous people of North America of the Algonquian-Wakashan linguistic stock (see Native American languages). apartments (both coops and condos)jumped six percent to $767,000 in the third quarter of 2006 compared to a year ago, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Real Estate Board of New York's (REBNY REBNY Real Estate Board of New York ) Manhattan Residential Sales Report for the third quarter of 2006. Northern Manhattan and East Side condos showed significant increases in median sales prices. Northern Manhattan prices were up 60 percent to $558,000 and East Side condominiums jumped 45 percent to $1,350,000. The REBNY report, the most comprehensive available for the Manhattan market, also showed cooperatives' median sales prices on the East Side rose 13 percent to $856,000 and downtown coop COOP See Banks for Cooperatives (COOP). units rose 20 percent to $662,000. "The health of Manhattan's residential market remains solid," said Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Spinola, REBNY's president. "When comparing apartment prices to last year, overall median sales prices are up. We expect to see continued gains in the fourth quarter of 2006 and into 2007." Among other key findings in the report: Manhattan: * The median price per square foot for condominiums rose one percent to $1,022. Neighborhoods: * The neighborhood with the highest median price per square foot was the East Side which climbed to $1,100, an increase of nine percent. The West Side's $1,050 was the next highest. Unit Types: * Median prices of condos between 851 and 1,000 square feet rose by 10.6 percent and units 1,001 to 1,500 square feet increased 5.5 percent. * Median sales prices of units between 1,801 and 2,000 square feet fell 6.7 percent and units 2,001 square feet and larger dropped in price by 8.7 percent. The Cooperative Report is complied by REBNY as a quarterly report through confidential surveys provided by the city's major residential brokerage firms. Individual brokers submit cooperative transfer data, which is not available to the public. REBNY then publishes this condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. version of its survey to help buyers and sellers determine current fair market values. The full report is circulated exclusively among the participating brokers who provide the sales data. The Quarterly Condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. Report is compiled by REBNY from recorded condominium transfers. |
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