By Karen Kostiw | Coldwell Banker Warburg
Manhattan Real Estate September 22 Market Overview
The Manhattan real estate snapshot for September 22 highlights a market that continues to balance momentum at attainable price points with resilience in the luxury segment. Activity increased across co-ops and condos, with Midtown and Downtown leading the way in both listings and signed contracts.
Co-ops: Consistent Buyer Engagement
Midtown recorded 25 co-op contracts at a median of $675,000, underscoring demand in value-driven price ranges. The Upper East Side saw 26 contracts signed, though at a notably lower median contract price of $795,000 compared to prior weeks—highlighting selective buyer behavior. Downtown remained steady with 16 contracts at $1.07 million, while the Upper West Side achieved 13 contracts at $1.19 million, reflecting the continued appeal for buyers prioritizing lifestyle neighborhoods.
Condos & Condops: Midtown & Downtown Dominate
Midtown emerged as the most active condo market this week, with 38 contracts at a median price of $2.4 million, confirming strong buyer appetite for centrally located inventory. Downtown followed with 21 contracts at a nearly equivalent median price of $2.55M, proving that premium properties attract immediate attention when well-positioned. The Upper East Side, with 12 condo contracts at $1.05 million, reflected steady entry-level luxury activity, while the Upper West Side recorded 9 contracts at $ 1.5 million.
As the Olshan report documented, “the number one contract signed was for number 38 at 111 West 57th Street, asking $19.75 million (click the link to view the listing), which was reduced from $22.75 million when the building started marketing off-floor plans in June 2016. The condo has 4,492 square feet, including three bedrooms and 3.5 bathrooms. It features a 36’ x 21 great room with 14-foot ceilings overlooking Central Park. A primary bedroom measuring 22’ x 14’ also overlooks Central Park. Monthly common charges and taxes total $24,224. Forty-nine out of 60 units in the building have closed so far, averaging $4,505/square feet. Amenities include a concierge, fitness center, 82-foot pool, lounge, terrace, private dining room, and a covered driveway entrance. This marks the 11th time this year that a unit in the building has locked up the No. 1 or No. 2 deal.”
Additionally, number 58 at 111 West 57th Street (click the link to view the listing), Contract Signed within the last 30 days. Asking $22 million, a 3-bedroom 3.1-bath totaling 4,183 square feet.
Townhouses: Selective but Notable Transactions
Seven new townhouse listings entered the market, including four on the Upper East Side priced around $10.5M. Contract activity was limited but noteworthy: one Midtown townhouse closed at $5.1 million and a Downtown townhouse traded at $8.65 million, demonstrating that highly unique properties still secure buyers even in a cautious luxury environment.
Sales Activity by Price Tier: Depth Below $3M, Selectivity Above
Liquidity continues to concentrate under $3 million, with 130 contracts signed across the $0–$3 million tiers. Above $5M, 12 contracts were recorded, along with 4 contracts in the $10M–$20M bracket—an improvement over the prior weeks, which signals confidence in well-priced luxury assets.
Condo Resale Pricing: Premiums for Prime Properties
Average resale prices per square foot show a transparent premium gradient:
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$1,621/SF in the $1M–$3M tier
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$2,104/SF in the $3M–$5M tier
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$2,780/SF in the $5M–$10M tier
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$4,396/SF in the $10M–$20M tier
The $10M–$20M segment in particular demonstrated robust pricing power this week, reinforcing the selectivity and strength of Manhattan’s ultra-luxury buyers.
Strategic Insights
As someone who began my career on Wall Street and now advises clients through Coldwell Banker Warburg, I view market shifts through both data and strategy.
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For Sellers: September remains a prime listing window. Properties that launch with proper preparation, including cosmetic updates through the RealVitalize program, continue to capture attention. Leveraging Coldwell Banker’s Global Luxury platform ensures both national and international reach.
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For Buyers: Inventory remains deepest under $3M, but the luxury tier is competitive for rare properties. Monitoring resale $/SF is critical for evaluating long-term value.
Outlook
The Manhattan real estate snapshot on September 22 underscores an active and discerning market. With momentum in both co-ops and condos, and luxury transactions selectively closing, this fall season continues to reward strategy, preparation, and execution.
