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Manhattan Coop and Condo Prices – Year-end 2013
(Source: Brown Harris Stevens)
The average price for a Manhattan apartment was $1,553,599 in the fourth quarter, 2% less than a year ago. This decline is solely attributable to the rush of high-end closings in 2012’s fourth quarter, due to pending tax-law changes. With capital gains rates slated to rise for the wealthy in 2013, many owners of luxury apartments were incentivized to close before the end of the year. The median price of $841,278 was just 1% lower than in the fourth quarter of 2012.