Manhattan Condos Tighten the Rules

Historically, condos have cost more, partly because they had looser rules, and partly because of their scarcity. Although both are changing, the price differential between condos and co-ops has remained roughly the same. Nor has the shift toward co-op-style behavior so far seemed to affect condo prices. The average sales price for Manhattan condos in the first quarter of this year was $1.45 million, 28% more than the average sales price for co-ops, which was $1.13m, according to sales data from Prudential Douglas Elliman.

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