News & Press Contact


Lower Manhattan Condos Rival Midtown’s Luxury Skyscrapers

Contracts signed at newly built properties between 34th Street and the Financial District almost doubled last year to 1,222, according to brokerage Corcoran Sunshine Marketing Group. Buyers agreed to pay an average of $5.7 million in the fourth quarter, up 49 percent from a year earlier and a new record. The price per square foot of those deals rose 20 percent to a high of $2,915. “It’s a new class of luxury product that’s being introduced,” said Kelly Kennedy Mack, president of Corcoran Sunshine. “We are seeing buyers who historically were attracted to Midtown come downtown. They’re getting the same high level of design and spectacular views.”

Read Article