11-02-2005, 04:24 PM
| | Manhattan condo prices continued to rise
Manhattan condo prices continued to rise in the third quarter, while co-op prices dipped slightly, according to a report released today from the Real Estate Board of New York, a real estate trade association.
According to REBNY, median prices for Manhattan condominiums jumped up 22 percent to $814,000 in the third quarter of 2005, compared to a year ago.
There was mixed results for cooperatives as median prices per room for cooperatives set a record for studio/one-bedrooms jumping 24 percent to $173,000 per room, while overall median prices for cooperatives dipped 2 percent to $650,000.
The reports also showed that Northern Manhattan cooperatives had another record-breaking quarter with median price surges of 54 percent for cooperatives to $470,000, and 50 percent for condominiums to $349,000.
Read more: http://www.inman.com/inmannews.aspx?ID=48646