Thursday, December 27, 2007

Condo Market Update: Upper West Side

Area: Upper West Side
Median New Condo $/psf: $1253.
Median New Condo Price: $2,100,000.
Price Ranges:
Studio: $500k-$755k
1 Bedroom: $839k-$1.16Mil.
2 Bedroom: $899k-$2.19Mil.
3 Bedroom: $1.5Mil-$4.6Mil.
4 Bedroom: $2.2Mil-$5.0Mil.

New condo development on the Upper West Side is pretty limited as is supply. At the same time, the bulk of the inventory is larger apartments geared to family living. A few new condos have come on line in the past few months, including The Harrison (read The Harrison Condo review), one of my favorites, a Robert A.M. Stern designed building which combines classic New York architecture with contemporary finishes ($1280psf avg.). For those with a more contemporary disposition, Linden 78, which averages $1889psf may be the new development for you. For those more price conscience, there are several condos between 88th and 99th Street which provide good value.
Prices in the area have been steadily rising, as more families are staying in the city, requiring larger spaces, and facing limited condo supply. The Upper West Side is one of Manhattan's most established markets and a conservative bet.

1 comment:

  1. I like these Condo-Market Updates! Informative and concise.

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