West Side
Solid Activity on the West Side
The lead story on the West Side continues to be strong prices for larger
properties, particularly classic seven-, eight- and nine-room apartments.
Condominium
The shortage of inventory in this category is driving this enduring
Average Price Per Square Foot
demand, which has been a constant in recent years. > Inventory for
$1,625
smaller apartments is not as limited, with more studio, one- and two-
$1,350
bedroom homes becoming available in recent months. As a result, these
Cooperative
$1,075
properties are staying on the market longer, and buyers are taking more
Average Price Per Room
$800
$300,000
Percent
of Sales
$200,000
4+BEDROOM
2Q 07 3%
2Q 08 3%
2Q 07 $5,446,474
2Q 08 $9,181,053
Change 69%
3-BEDROOM
12%
17%
$3,181,128
$4,404,949
38%
2-BEDROOM
30%
34%
$1,583,565
$2,068,941
31%
1-BEDROOM
41%
36%
$728,057
$846,959
16%
STUDIO
13%
10%
$406,017
$482,458
19%
$525
$250,000
Average
Price
$250
2Q 07
2Q 08
$150,000
time to make decisions about their housing needs. Still, prime properties
$100,000
in top condition and priced appropriately are selling quickly, as are apart-
ments in luxury new developments which are not as prevalent on the
$50,000
Prewar
Postwar
West Side when compared to the rest of Manhattan. > Conveniently
2Q 07
2Q 08
located adjacent to Lincoln Center, at the top of the corridor stretching
from 15 Central Park West and the Time Warner Center, the Brown
Driven by 15 Central Park
West closings, the average
price for 4-bedroom and
larger apartments on the
West Side jumped 69%
over the past year to
$9,181,053. These closings
also helped bring the
average condo price per
square foot up 25% during
this time to $1,622.
Harris Stevens West Side office is an integral part of the fabric of the
neighborhood. Our brokers are among the most respected and successful
in the City, achieving a significant number of record sales, and are well
known throughout the area for their longevity in residential real estate
and keen business expertise.
James M. Gricar
Executive Vice President
