Buying an apartment in Manhattan was an especially expensive venture in 2016, according to CityRealty's recent Year-End Manhattan Market Report.
Buying an apartment in Manhattan was an especially expensive venture in 2016, according to CityRealty's recent Year-End Manhattan Market Report.
According to the report, for the first time, the average price paid for properties rose above $2 million.
Residential units, be they condos or co-ops, cost buyers an average $2.2 million.
That figure climbed due, in part, to increase of luxury abodes, most notably those housed in the tony 432 Park Avenue building.
One of the buyers in the skyscraper paid roughly $87.6 million to call the swanky address home, notes the New York Daily News.
Conversely, 5,200 new homeowners did manage to find relative bargains in 2016, snagging properties with price tags below the $1 million mark, according to USA Today.
