Fear not, bubble lovers, the second quarter was good to you. Miller Samuel's study on real estate action in Manhattan from April-June came back with some interesting facts and figures, and the report is collecting more ink than a squid farm (umm ... sorry, it's Friday). Among the revelations:
1) Average sale price topped $1.3 million, up 8.5% from March's record.
2) One square foot of Manhattan living space will now run you, on average, $1,000.
3) Co-op prices topped $1 million for the first time, up 11.5% from last quarter.
4) Average luxury apartment sale hit $5 million for the first time, up 14% from last quarter.
Said Elliman CEO Dottie Herman in the Daily News: "It's a very safe bet, New York." She then ran home, tossed a fat roll of $100s into a safe, stocked her fallout shelter with enough Evian to drown an elephant and pulled her kids out of private school. And that's when the tears came.
· Average Manhattan apt. price tops 1.3M [NYDN via The Real Deal]
· Manhattan Apartment Prices Rise at Fastest Pace in Five Years [Bloomberg]
· High-Ri$e Apts. [NYPost]
· Apartment prices rise ever higher [Newsday]