Downtown Manhattan is leading apartment sales, new report says

Downtown Manhattan is leading the borough in apartment sales, according to a real estate market report released Wednesday.

The neighborhood grossed $621 million in condo sales in May and had the highest price per square foot, at $2,194, listings site CityRealty found.

The average sales price in all of Manhattan in May was $2.3 million, unchanged from the month before, according to the report.

Despite the booming condo prices downtown, the most expensive sale in Manhattan in May was a co-op on the fifth floor of the pre-war 4 E. 66th St., also known as 845 Fifth Ave. The pad sold for $52 million, the top sale in Manhattan so far this year, and the seventh-highest in the borough’s history. 

The sale “demonstrates that there’s still high demand for classic trophy properties and prestigious pre-war co-ops” in New York City, noted Gabby Warshawer, Director of Research for CityRealty.