QUARTERLY
MARKET
REPORT
DOWNTOWN
A decline in the average price for three-bedroom and larger apartments Downtown was partially offset by gains in all other size
categories. New developments helped bring up prices in several Downtown neighborhoods, led by Battery Park City where the
median price of $1,457,500 was 151% higher than during the third quarter of 2007. This is due to many units closing at 1 River
Terrace, where prices are significantly higher than the most buildings in the area.
AVERAGE SALE PRICE
$488,717
Studio
$542,283
+11%
$821,502
1-Bedroom
$856,176
+4%
$1,524,910
2-Bedroom
$1,622,321
+6%
$3,551,669
3+Bedroom
$2,872,343
-19%
$0
$1,000,000
$2,000,000
$3,000,000
3rd Q 07
3rd Q 08
MEDIAN PRICE
SELECTED MARKET AREAS
Chelsea/Flatiron
Gramercy Park
Greenwich/East Village
West Village
Battery Park City
*There were not enough sales for a valid comparison.
ALL APARTMENTS
Median Sale Price
3rd Q 07
$1,150,000
$670,000
$855,000
$751,250
$580,000
3rd Q 08
$1,307,500
$725,000
$1,095,000
$680,000
$1,457,500
COOPERATIVE
Median Price per Room
3rd Q 07
$226,500
$201,000
$220,667
$239,000
*
3rd Q 08
$220,556
$218,875
$249,750
$207,500
*
CONDOMINIUM
Median Price per Sq. Ft.
3rd Q 07
$1,223
*
$1,236
$1,350
$818
3rd Q 08
$1,324
*
$1,617
$1,612
$1,087
Lofts
SELECTED MARKET AREAS
SELECTED MARKET AREAS
Chelsea/Flatiron
Greenwich/East/West Village
Noho/Soho
Tribeca
LOFTS
Median Sale Price
3rd Q 07
$1,630,000
$1,300,000
$2, 113,750
$2,075,000
3rd Q 08
$1,502,500
$1,023,750
$2,600,000
$1,825,000
Median Price per Sq. Ft.
3rd Q 07
$1,267
$1, 139
$1,145
$1, 130
3rd Q 08
$1,223
$1,098
$1,300
$1,075
Loft prices fell Downtown, except
for units in the Noho/Soho market.
Their median price of $2,600,000
was 23% higher than during the
third quarter of 2007.
