The median price for a new construction condo in Manhattan went up 10% from May 2011 to May 2012.
Several elements point to a new wave of condominiums construction in NYC. A project that reopened the gates of positive thinking is One57. Especially for its size (the condo is the tallest residential structure in the Manhattan), One57 has had a significant psychological impact pushing people to believe that, even in less than favorable economies, big projects can be brought to light in New York City.
Some examples of condos that are about to hit the market are: The Citizen (Chelsea) with prices ranging from $650,000 to $4 million starting September; The Printing House (West Village) hasn’t yet listing prices but sales are expected to start around September as well; 150 Charles Street (West Village) is in pre sale mode too even though construction needs to be completed, and the proposed increased height (20 floors) is causing the ire of local residents.

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Warmest Regards,
Riccardo Ravasini