Manhattan | August 2021

According to New York City records, the median price for an apartment in Manhattan in the month of August was $1,072,500. This price represents a 7.2% increase from last year’s median price of $995,000. The number of sales almost tripled climbing from 468 to 1,308, representing a year-over-year increase of 179%. 

So, what exactly does $1.072,500 million get you in Manhattan? Let’s take a look at two apartments that sold just above the median price during August.

Apartment 15-H at The Broad Exchange Building in lower Manhattan is a one-bedroom loft-like residence in a converted turn-of-the-century condo.   This sponsor apartment closed at $1.075 million representing a per square foot price of $1,327.

The one-bed, one bath, 810 square feet residence features 13’5” ceilings and a chef’s kitchen with high-end stainless steel appliances. Hardwood floors, generous closets and a washer/dryer unit complete this home. 

25 Broad Street sits at the southeast corner of Exchange Place and Broad Street within an earshot of the Stock Exchange. Built in 1902 as a speculative office building, this landmarked structure was converted to residential use in the 1990s and subsequently  to condominium ownership in 2019. 

The corner property rises 22 floors and contains 308 apartments. Building amenities include a spectacular lobby, residents lounge, playroom and fitness room.  As an added bonus, the street is closed to most vehicular traffic and the city has created a public square with tables and chairs in front of the building.

Sponsor sales at 25 Broad are being handled by the Marketing Directors.  For a look at 15-H or other current availabilities at this landmark building visit Linecity.

The second apartment that fell at $1.075 million was a garden-level residence at 502 Ninth Avenue, aka 38 Nine, in Chelsea.  This two bedroom condo residence measures a comfortable 1,177 square feet.  Access between the two floors is via a handsome spiral staircase.

Apartment 1B is a duplexed unit featuring a private patio (27×16).  The patio is a perfect place to entertain or to hang with your dog.  The garden level contains a living room and a secondary bedroom with an en suite half bath.  Both rooms look out onto the patio; direct access to the outdoor space is through the living room. 

The main floor contains an open kitchen, a dining area and the primary bedroom.  There is a full bath just off the bedroom.  The kitchen offers a full suite of stainless steel appliances, granite countertops and a peninsula which comfortably allows for four bar stools.

38 Nine sits at the northeast corner of West 38th Street and 9th Avenue.  The modest building rises 10 floors and contains 36 apartments. Security is provided by a virtual doorman while amenities include: bike storage, roof deck, private courtyard and a laundry room.

The $1.075 million sales price represents a per square foot mark of $913.This listing was represented by Brian K. Lewis of Compass.  To look at 502 Ninth Avenue or any current availabilities in this Chelsea condo visit Linecity.

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