REBNY report shows apartment prices holding steady.Median sales 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 remained steady in the second quarter of 2006, with some areas seeing moderate increases, although not as robust as in previous quarters, 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. a report just released by the Real Estate Board of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (REBNY REBNY Real Estate Board of New York ). Median sales prices for Manhattan cooperatives and condominiums were up 1% to $749,500 compared to second quarter of last year. Manhattan cooperative median sales prices also saw a 1% rise to $685,000 from a year ago, while Manhattan 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. median sales prices were virtually unchanged at $835,000. The most sizable siz·a·ble also size·a·ble adj. Of considerable size; fairly large. siz  a·ble·ness n. gains for the quarter were for East Side
apartments, which climbed 5% to $870,000, led by in particular by East
Side cooperatives, which had median sales prices jump 15% to $875,000.
West Side condominiums also showed strength with median prices climbing
9% to $850,000. REBNY's Quarterly Residential Report, one of the
most comprehensive reports available for the Manhattan market,
incorporates sales data from Manhattan's largest brokerage firms
and a host of smaller residential brokerage firms.
REBNY President 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 said, "Based on our report, median sales prices continue to remain stable while some neighborhoods are seeing increases. For example, East Side cooperatives had a median sales price surge of 15%, while West Side condominium median sales prices jumped 9%. The East Side was the strongest neighborhood performer overall in this quarter compared to last year, with a combined coop COOP See Banks for Cooperatives (COOP). and condo median price jump of 5% to $870,000. "Clearly, the increases are not as robust as in previous quarters, however, Manhattan prices overall are still holding steady." Median sales prices-per-square-foot for Manhattan condominium units increased 5% to $1,012, while Manhattan cooperative units had median prices-per-room increase 3% to $198,000. Other notable findings in the report include the following data: * East Side median prices-per-room for cooperatives were up 12% to $217,000, which was the highest price and percentage increase of the five major market areas. * East Side condominiums also had the highest median price-per-square-foot for all neighborhoods, jumping 6% to $1,050 per square foot. * Northern Manhattan apartments had the largest percentage increase in median sales prices, rising 14% $472,500, despite a smaller number of sales compared to other neighborhoods, with 104 total transactions in the quarter. * Downtown condo units registered a 6% increase in median sales price per square foot to $998. |
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