New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


New York & Tri-State  + Midtown New York  + Apartments  | 

Pricing on Manhattan Condos and Co-Ops Slips in Q1

Median sales prices for Manhattan co-ops and residential condominiums slipped year-over-year in 2023’s first quarter, reported Miller Samuel. This marked the second Y-O-Y decline since the pandemic era began, but pricing remained slightly above pre-pandemic levels 

Listing inventory was nearly flat compared to the year-ago quarter and slightly less than the five-year quarterly average, according to Miller Samuel’s quarterly report. That being said, inventory expanded for the third consecutive quarter. 

The report also found that with lower sales coming out of the pandemic boom, the market’s pace has been at its slowest in two years. New development sales had the smallest market share in four years. 

“The market continues to transition out of the pandemic-era boom a year ago with lower sales and modest inventory growth as mortgage rates are more than double last year’s,” said Miller Samuel’s Jonathan Miller, who has produced the quarterly report since 1994. 


Inside The Story

Miller Samuel

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition
  • ◦Development
New call-to-action