Residential Sales Up in Manhattan in June, Including Trump Sale
Sales were up, but prices were not.
By Dees Stribling, Contributing Editor
New York—The latest CityRealty monthly market report on Manhattan residential transactions noted that sales were up in the borough during July, but average prices were not. During the four weeks leading up to July 1, the number of Manhattan sales shot up on a month-over-month basis. There were 1,150 residential closings totaling $2.1 billion, compared to 876 the previous month.
On the other hand, the average sale price for a Manhattan apartment—both condos and co-ops—was $1.8 million in July, edging down from $1.9 million in June. More sales were in Downtown than in any other area (35 percent of the total), with Midtown almost as popular (25 percent).
Also, at $50.9 million, the most expensive sale was #PH78, the 8,275 square foot apartment at the Time Warner Center at 25 Columbus Circle. That’s equal to more than 28 NYC apartments at the month’s average price of $1.8 million per unit.
A notable new listing on the market, according to the report, is a duplex penthouse at 50 United Nations Plaza, which combines more than 9,000 square feet of interior space with two large outdoor spaces. The apartment also has a private elevator and an entertainment lounge.
Another tidbit from the report: presidential candidate Donald Trump reportedly sold his full-floor penthouse at Trump Park Avenue for $21 million (perhaps he’s hoping to spend more time in Washington, D.C., in the future). The apartment measures 6,000 square feet and has five bedrooms; it was recently listed for nearly $25 million. Also involved in residential transactions last month in Manhattan were actress Julia Roberts (who sold) and director Francis Ford Coppola, who bought.