Manhattan condominiums...

In the late 1800’s, Manhattan was home to some of the wealthiest families in the United States and thus to a booming real estate market and the Manhattan condominiums market in particular. Today the Manhattan skyline consists of a see of skyscrapers, historic mid-rises, classic townhouses, trendy warehouse lofts and newly developed Manhattan condominiums. Many new Manhattan condominiums developer have joined those of the old days and the city continues to grow.

A 48 percent increase in Manhattan condos sales since 2005 boosted the Manhattan condominiums and real estate market in the first quarter of the year. The total number of condos in Manhattan sales expanded 28 percent though the overall number of sales dropped a bit from the first-quarter 2006.

The average Manhattan condominiums sales price increased 7 percent, and was 9 percent above the level in fourth-quarter 2005. Entry-level Manhattan condominiums including one-bedroom units dropped market share from 52 percent in the prior quarter to 41 percent in the current quarter. Meanwhile, two-bedroom Manhattan condos market share grew 9 percent and four-bedroom Manhattan condominiums market share increased 2 percent. Manhattan condominiums sales reached 1,073 units in the first quarter, marking the first time in nearly five years that condo sales exceeded co-op sales in a quarter.