Manhattan Midtown East Condo Market Report
Manhattan Midtown East is one of those Manhattan neighborhood that has good amount of One Bedroom Condo inventory. Midtown East is surrounded by different neighborhoods such as Murray Hill, Sutton Place, and Turtle Bay.
There is a wide price range for a Midtown East one Bedroom Condos, starts from $550,000 up to $2,350,000. Clearly this range is very wide and the size, condition, location and building are all very important factors that distinguish value in the Midtown East 1 bedroom condo for sale market. In total as of this post, I see approximately 130 One Bedroom Midtown East Condos for sale. That might seem like a very large number but what is important is to look at the break down of the price ranges because people searching in the $750,000 range don't look in the $1,500,000+ range.
- $550,000-$760,000 price range segment of the Midtown East one Bedroom Condo market is the most active price range. This means units will sell if it is well price within few weeks on the market. Most of the apartments will be in the 600-650 sq ft range. Some of these units can be in The Vanderbilt at 235 E 40th Street or 216-218 E 47th Street -The Octavia. Both of these buildings are very well established, in good locations.
- $760,000-$1,000,000: There is a lot of different units in the price range, the unit size range from 700-950 sq ft. If you prefer view, then we may need to be 20+ floor or higher range since Midtown East has taller building. Some of these apartments will be in luxury buildings, like 865 United Nations Plaza or other new development buildings. This is a price range where you need to know what you are looking for because there is a lot of inventory out there.
- $1,000,0000-$1,750,000: For luxury condo building 845 or 865 United Nations Plaza, or 425 or 325 Fifth Avenue, or the new construction buildings. Now you will be looking in the 800+ square feet category, at this price point, usually condo unit will have 1.5 bath apartments, dining alcove spaces off the kitchen and living room, and better locations along Fifth Avenue, Park Avenue. This is a very large price point, for a 1 bedroom but there is a payoff that you will be getting a very nice apartment with a lot of features.
- $2,000,000+: In this price range, almost all of the one bedroom units will have expansive views of Manhattan. The condo building will be five stars and high end condo building with iconic Empire State building, City and Water Views. Most apartments will be renovated or recently renovated, you will be on Fifth Avenue or Park Avenue locations or in one of the Trump World Tower buildings. This is a price point where there is not a lot of inventory, approximately a dozen apartments on the market, but those apartments will definitely give you a lot in terms of size, views, location and building amenities.
Overall, Midtown East One bedroom condo has a wide price range. Depend on your preference, we can discuss in detail what works best for you. If you are interested in this area, our advice is to give us a call (917)837-8869 and we can talk about the current availability and what is selling in this market.
Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)
Our team specialize in Manhattan New York Condominiums, townhouses, and condops.