12/02/08

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Luxe co-op sales up, townhouse sales down in Manhattan

 
Co-op sales above $5 million in Manhattan increased during the first half of 2008, compared to last year, while $5 million-plus townhouse sales decreased, according to a mid-year luxury market report released by Stribling broker Kirk Henckels.

There were 105 co-op sales over $5 million in the year's first six months, compared to just 69 during the first half of 2007. Of those 105 sales, 71 were in the $5 million to $10 million range, 21 were between $10 million and $20 million and 13 were over $20 million. Each category saw increases from last year.

Townhouse sales over $5 million fell from 56 last year to 51 during the year's first half. Sales between $5 and $20 million saw decreases. Thirty-five townhouses were sold for between $5 million and $10 million and 11 sold between $10 million and $20 million.

Townhouses above $20 million saw one more sale compared to last year, with five sales in the year's first six months.