New York’s townhouses are highly-prized for their prestige, privacy, outdoor space and architectural heritage. They are quicker to purchase, posing fewer hurdles than New York’s ubiquitous condominiums and co-operatives. In this report, we analyze pricing and sales activity over the last ten years of these sought-after properties.
We analyzed pricing trends* in nine New York neighborhoods with the highest distribution of townhouses. Many of the city’s grand Beaux-Arts and Neo-Federal houses on Fifth and Park Avenues, homes to Rockefellers and Vanderbilts, have been lost to demolition and replaced with condominiums and co-operatives. Those townhouses that remain command premium prices in both emerging and more established neighborhoods.
Source: Leslie J. Garfield & Co. Inc/REBNY * Price per square foot ** Small number of transactions . Where there were too few transactions data was substituted to the nearest year
Source: Leslie J. Garfield & Co. Inc/REBNY * Insufficient Data
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