Manhattan townhouse sales booming

Real Estate Weekly, Jan 2, 2002

After a brief lull in mid-September townhouse sales in Manhattan is booming with sales and contracts signed ranging in the $1 million to $16 million range.

Activity in November in Greenwich Village and the Upper East Side is especially brisk with Corcoran senior vice president Sara Gelbard reporting 3 contracts signed for Greenwich Village townhouses in the past month ranging in price from $1.6 million to almost $6 million. The Upper East Side remains the ultimate address for those able to afford the still staggering prices for townhouses.

Sharon Baum, Corcoran group director of exclusive properties has had a run on Upper East Side properties priced over $5 million with three townhouses sold in Novemeber and December for $7.5 million, $14 million, and $16.5 million.