The Upper East Side, in decline throughout the latter part of last year, has skyrocketed in price over the last few months. According to the latest CityRealty monthly market report, the neighborhood held the second highest-grossing May sales in Manhattan, led by three top listings.
A $52 million condo at 4 E. 66th St. went off the market last month, making it the most expensive co-op sale of 2016 and the seventh most expensive co-op in Manhattan history. The four-bedroom, five-bathroom unit offers approximately 7,500 square feet.
The top pre-war listing was located in a J.E.R. Carpenter-designed limestone building, also known as 845 Fifth Avenue. There are just 16 co-ops inside.
Just below the pricey co-op was a $42.8 million listing at the Whitney Condos, made up of 10,088 square feet, five bedrooms and six-and-a-half bathrooms. The third most expensive sale was at 151 E. 78th St. for $30.9 million, offering five bedrooms and six bathrooms in just under 7,000 square feet.
Carnegie Hill’s 30-day price average jumped 40 percent with six sales, while Lenox Hill and Yorkville dropped 2.5 percent and 9.8 percent, respectively. Forty-two apartments sold in Lenox Hill and 28 sold in Yorkville.
In Midtown, most neighborhoods’ 30-day price average dropped, with the steepest decline in Midtown East, where there was 26 sales at an average $2,204 per square foot — down 29.2 percent. Midtown West (48 sales) and Murray Hill (21 sales) dipped by 5.7 percent and 4.2 percent, respectively. Turtle Bay/United Nations grew just 1.2 percent in average price per square foot ($1,326) amid 15 sales.
The Financial District also fell, albeit less dramatically, by 3.8 percent to hit a 30-day average of $1,228 per square foot.
While Downtown held 49 percent of Manhattan’s total May sales for a gross $621 million, the Upper East Side came in second with 23 percent of sales and $289 million.
Midtown beat out the Upper West Side and the Financial District with a $231 million gross and 18 percent share of all sales. The Financial District, with 3 percent of the borough’s sales, fell short to the Upper West Side’s 7 percent.
[Tweet “The number of total sales in the borough dwindled to 751 from 955 sales in April.”]
Across Manhattan, the combined average sales price for condos and co-ops was stagnant from the month prior at $2.3 million. Condos held the highest average price at $3.1 million, while co-ops averaged $1.4 million. More condo sales sold (406) than co-ops (345).
The number of total sales in the borough dwindled to 751 from 955 sales in April.
