Manhattan apartment prices dropped in the first quarter as condominium sales plummeted and new- development deals made up the smallest share of the market in almost seven years.
The median price of all properties that changed hands in the quarter fell 9.9 percent from a year earlier to $782,071, appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today.
Monday, April 04, 2011
Manhattan Apartment Prices Drop as Buyers Favor Cheaper Co-Ops Over Condos
Bloomberg reports:
