Halstead Property
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Gregory J. Heym
Executive Vice President, Chief Economist
Report Cost Of Manhattan Apartments Up 4 Percent
MANHATTAN — The price of an average Manhattan apartment stands at $1,326,879, up 4 percent from a year ago and the highest price since June 2005, according to a new survey by Halstead Property.
“Prices haven’t come down,” said Gregory Heym, the firm’s chief economist. “There’s more supply out there, yet clearly demand is very strong.”
Last month, the median price for a Manhattan apartment was $751,743, 5 percent higher than a year ago. Studios shot up 41 percent downtown to a median price of $453,597, 26 percent on the East Side to $375,000, and 19 percent on the West Side to $413,000.
Thursday, April 13, 2006