New York City townhouses and small buildings saw an uptick of sales, volume and average sales prices in the third quarter compared to the same quarter in 2016, according to a report Friday by brokerage Leslie J. Garfield.
Total sales increased from $505 million to $518.10 million, the average price-per-square-foot rose from $1,165 to $1,394 and the average sales price went from $5.7 million to $5.9 million, the report said.
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The increase though, was almost entirely down to a strong sales performance on the Upper East Side, the only individual Manhattan neighborhood analyzed in the report where total sales volume rose.
In fact, the affluent area saw an increase in all measured categories during the third quarter 2017 as compared to the same time in 2016. The total sales volume rose an impressive 72% to $177.5 million from $62.6 million; the average sales price rose to $10.4 million from $7.8 million; the average price-per-square-foot rose to $1,879 from $1,797; and the number of transactions rose to 17 from 8, according to the report
Notable sales that helped tip the scale were 36 East 61st St., which fetched $32 million and 1041 Madison Ave., which closed for $21.1 million.
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In comparison, the Upper West Side saw a 35% decline in total sales volume, while in Chelsea, there was just one transaction—an 80% decline in the number of transactions—which led to an 84% decline in total sales volume.
In Brooklyn though, both neighborhoods included in the report performed well. In Park Slope, the total sales volume was up 4% to $99.95 million, though transactions were down 9%. In Brooklyn Heights, sales volume was $63.54 million, a 68% increase from the same quarter last year and transactions were up, too, by 29%.