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Article: Condo prices on an upswing, report says. (condominium prices in Manhattan area of New York, New York; University of Pennsylvania's Wharton Real Estate Center report)
- Article from:
- Real Estate Weekly
- Article date:
- April 14, 1993
CopyrightCOPYRIGHT 1993 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Prices in the Manhattan condominium market were down 9.9 percent in 1992, although the luxury residences in the Gold Coast area Fifth, Madison, Park, Central Park West and Central Park South) showed an increase of 2.3 percent for the year and a 12.31 percent price appreciation since the end of 1990, according to the Heller Equities Condominium Price Index prepared by the University of Pennsylvania's Wharton Real Estate Center.
The Manhattan decline continues the steady fall in overall prices since the high in 1989, and represents a 16 percent drop in price.
Other highlights of the report by Professor Susan M. Wachter of the Wharton Real Estate . Center ...