Who's going?

Adult Bikes
Kid bikes
Tandem Bikes

Book Now

Who's going?

Adult Bikes
Kid bikes
Tandem Bikes

Book Now

The Rising Costs of Real Estate in Manhattan

The Rising Costs of Real Estate in Manhattan

The average price per square foot for condos and co-ops in Manhattan has gone up 41.9% in the past 10 years, despite the Great Recession.

We’ve taken a brief look at the changes to NYC real estate prices over time using data on condominiums and co-ops.

Here are some key findings:

Studios and 4-plus-bedroom condos and co-ops are actually less expensive than they were 10 years ago.

Studio condos have stayed the most consistent in price, and 2-bedroom properties have gone up the most. Hopefully, this means more families and more upper-middle-class buyers in the city.

The most up-and-coming neighborhood is Central Park West, which has gone up in value by 60.6% in the past year.

The largest decrease was in Midtown East and Turtle Bay (-27.2%), Overall, southeastern neighborhoods like Greenwich Village, Chelsea, and SoHo have seen their prices shoot up in the past 10 years.

While there was a dip during the Recession, the average price per square foot for condos and co-ops in Manhattan has increased by $689 in the past five years.

The trickle-down effect leads to higher monthly rates for renters, who now pay on average between $2,900 and $3,500 per month for a medium-sized apartment in Manhattan. 


15% Off Applied At Checkout.

Click Here to Get 10% OFF Your Purchase!