Manhattan Condo Living: February 2014

Eileen Hsu (許小姐) and Morgan Evans, the new generation of Real Estate Professionals. We specialize in Manhattan Condos, including: Resales, New Construction, Pre-Construction and Foreign Nationals buying Manhattan New York Condos. Contact us at (917)837-8869 or (646)644-6929 Today.

MIDTOWN WEST Condos For Sale Market Report

The Midtown West Neighborhood is definitely being categorized as a hot commodity right now.  You can find more and more articles about the transformation of Hells Kitchen from a gritty neighborhood to a trendy destination.  New condominium projects such as 540 West 49th Street are selling extremely well, higher end luxury condominiums are in development with a number of large luxury rental projects currently being built. Phrases such as the "next Chelsea" are becoming more commonplace when describing Hells Kitchen.  Exciting new condominium and rental projects always bring demand with them. 

A project like 540 West is a good example of how when priced and developed within the expectations of the buyer demand for a particular neighborhood you will see a large turnout and apartments will sell fast.  One bedroom new construction condos priced less than $1.1 Million is near impossible to find now, but most of the inventory at 540 West was priced in this in demand segment of the one bedroom market.With a variety of buildings planned for development in the neighborhood it will be exciting to see new inventory come on the market and how it sells within the context of what is already available.We see 41 condominiums currently active for sale in Midtown West, ranging in price from $450,000 up to $5,995,000. 

This is down from 61 Condominiums we were tracking during the 4th Quarter of 2013.9

  • Studio's currently for sale ranging in price from $450,000 up to $1,100,00014
  • One Bedroom's currently for sale ranging in price from $799,000 up to $2,400,00011
  • Two Bedroom's currently for sale ranging in price from $1,100,000 up to $3,200,0006
  • Three Bedroom's Currently for sale ranging in price from $2,395,000 up to $5,995,000
  • Four Bedroom asking $3,997,000We track 72 condominiums currently in-contract in Midtown West, ranging in price from $499,000 up to $4,900,000. 

This is up from 55 Condominiums currently in-contract as of the 4th Quarter of 2013.When priced within the contexts of recent sales or other competitive apartments within the neighborhood an owner could expect good offers.  A by-product of a robust sales market were some listings coming available that were priced well beyond any current sale.  This is something that we plan to see more of in 2014.We represented many condo buyers and sellers in the Midtown West neighborhood of Manhattan. If you are a seller interested in maxmize your investment in today's market, call us (917)837-8869. If you are a buyer that would like us to help you navigate in buying a condo in NYC, we would happy to discuss your search with you.   

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

Comment balloon 7 commentsEileen Hsu • February 26 2014 12:42PM
MIDTOWN WEST Condos For Sale Market Report
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The Midtown West Neighborhood is definitely being categorized as a hot commodity right now. You can find more and more articles about the transformation of Hells Kitchen from a gritty neighborhood to a trendy destination. New condominium projects… more