2016 Manhattan Townhouse Report

Manhattan Townhouse Report | 2016

With fewer than 300 sales in any calendar year, townhouses represent one of the most fascinating niche segments of Manhattan’s residential real estate market. Corcoran’s 2016 Townhouse Report surveys sales of single-family and multi-residence townhouses throughout the borough.

Among its findings:

· Fewer sales. The number of townhouses sold fell by 26% versus 2015.

· Lower prices. After last year’s record-breaking levels, a slower pace at the high end caused prices to cool by 10% in price per square foot.

· Townhouses go for $1M minimum. For the first time, no Manhattan townhouse sold for less than $1 million unless it was a gut renovation.

· Fewer trophy sales. No townhouses sold over the $30 million mark in 2016.

Please feel free to reach out to me if you have any questions about the report or if you're considering buying or selling a townhouse. I welcome the opportunity to be of assistance to you.