< All Press

Manhattan apt. bonanza

The housing bubble may have burst around the United States — but not in Manhattan.

The median price for all condos and co-ops sold in the borough rose a stunning 89 percent — from $450,000 to $850,000 — from a decade ago, a new study shows.

The average price for a single square foot was a mere $617 back in 2002. Now it’s $1,087, the Prudential Douglas Elliman report found.

The numbers provide evidence that Manhattan real estate remains a solid investment.

“You can’t look at real estate the same way that you look at a stock,” said Dottie Herman, president and CEO of Prudential Douglas Elliman.

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
Joined October 2007