It's a buyers' market for new-construction condos in Manhattan. A recent Wall Street Journal analysis found that new condo sales dropped by more than 35 percent in the first quarter of 2018 as compared to the same period last year, and overall the pace of Manhattan apartment sales is at its slowest in five years. The median condo price dropped nearly 5 percent year-over-year to $1.6 million, according to the report. The slowdown is due in part to the glut of $1-million-plus condos on the market in similar newly constructed buildings, with more of the same still coming online.
For a sense of what's out there, here are five new condos that are having open houses this weekend, priced from $1.25-$4 million. They're in buildings and neighborhoods with a lot of similar supply, so if you're shopping for an apartment in this subsection of the market and one strikes your fancy, don't be afraid to try to negotiate.
308 East 38th Street #16E, Murray Hill
This two bedroom, two bath is a corner unit in a building called The Vantage. The apartment has quartz counters, a master bedroom with an en-suite bathroom, chrome bathroom fixtures, and a washer/dryer. The building has a roof deck, a doorman, a live-in super, a gym, a yoga room, a mail room, storage, bike storage, and a residents lounge. The apartment is listed for $2.499 million.
The open house is set for Saturday, March 31st, noon-2 p.m., by appointment, and Sunday, April 1st, noon-2 p.m., by appointment.
591 Third Ave. #6D, Murray Hill
A one bedroom, one bath in The Lindley. The listing is light on details and pictures, because construction on the building is just wrapping, but the apartment is described as 737 square feet, and the building is set to have a gym, a lounge, and a roof deck. The building has a 421-a tax abatement. The asking price is listed for $1.345 million.
The open house is set for Saturday, March 31st, 11 a.m.-3 p.m.
302 East 96th St. #1102, Yorkville
This apartment is a one bedroom, two bath in Yorkville. It has a balcony, floor-to-ceiling windows, white oak floors, a marble backsplash, quartz counters, and a library. The building has a lounge, a patio, a roof deck, bike storage, and concierge service. Parking is available. It's listed for $1.665 million.
The open house is scheduled for Sunday, April 1st, 11 a.m.-4 p.m.
55 West 17th St., Flatiron
A three bedroom, two and a half bath with a spacious living room and kitchen, and big windows on two sides. The building has a gym, a kids play room, bike storage, a movie room, a lounge with a kitchen, and a terrace. Parking and storage are available. The apartment is listed for $3.99 million.
The open house is scheduled for Saturday, March 31st, noon-2 p.m.
460 West 42nd St. #54F, Hell's Kitchen
A one bedroom, two bath with oak floors, window walls, marble counters, and a washer/dryer. The apartment has smart home technology that you can hook your phone into a stereo, a TV, and the lights. The building has a 421-a tax break. Also, there's a doorman, a live-in super, a concierge, valet parking, housekeeping, and dry cleaning. The asking price is $2.499 million.
The open house is scheduled for Saturday, March 31st, 11:30 a.m.-2:30 p.m., and Sunday, April 1st, 11:30 a.m.-2:30 p.m.