The single-family townhouse median price dropped 12% from last year to $5.500 million and the average price declined by 14% to $6.841 million. Average price per square foot decreased year- over-year by 5% to $1,571. These market-wide declines can be attributed to an increased share of sales occurring Uptown.
The tightening rental market helped to pique interest in the multi-family townhouse market and drove sales to grow by 18%. The multi-family townhouse market had a strong 2013, with 141 closings, up from 119 sales in 2012. Due to the continued low vacancy rate and record high rental rates in New York City, investor and buyer interest for multi-family townhouses has continued to
escalate, especially Uptown.
Complete 2013 Manhattan Townhouse Report
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