Market Overview for August, 2024
Median Sale Price
-22.6% YoY
Median Price/Sqft
-4.2% YoY
No. of Transactions
37.5% YoY
Manhattan Median Sale Price
3% YoY
What is the median sale price and median price per sq ft in Central Midtown?
The median home sale price in Central Midtown as of August was $905K, down 22.6% year-over-year.
A total of 44 assets were sold, representing a 37.5% growth compared to August last year.
The median price per square foot was $1,377, a -4.2% YoY change.
In August, the median home sale price in Manhattan was $1M.
Top most expensive neighborhoods in Manhattan
Central Midtown median price compared with other neighborhoods in Manhattan
Property values in Central Midtown are lower compared to the borough of Central Midtown overall.
Central Midtown median price compared with all the neighborhoods in Manhattan
| Neighborhood | Borough | Median Sale Price |
|---|---|---|
| Hudson Yards | Manhattan | $5,662,100 |
| NoHo | Manhattan | $4,775,000 |
| TriBeCa | Manhattan | $4,200,000 |
| SoHo | Manhattan | $2,995,000 |
| Central Park South | Manhattan | $2,350,000 |
| Hudson Square | Manhattan | $2,200,000 |
| Two Bridges | Manhattan | $1,985,000 |
| NoLIta | Manhattan | $1,975,000 |
| Carnegie Hill | Manhattan | $1,962,450 |
| Theatre District - Times Square | Manhattan | $1,930,000 |
| Chelsea | Manhattan | $1,915,000 |
| NoMad | Manhattan | $1,719,000 |
| Upper West Side | Manhattan | $1,447,500 |
| Morningside Heights | Manhattan | $1,390,000 |
| West Village | Manhattan | $1,362,500 |
| East Village | Manhattan | $1,362,500 |
| Roosevelt Island | Manhattan | $1,306,901 |
| Lincoln Square | Manhattan | $1,295,000 |
| Chinatown | Manhattan | $1,257,500 |
| Yorkville | Manhattan | $1,004,999 |
| Manhattan Valley | Manhattan | $991,500 |
| Battery Park City | Manhattan | $965,000 |
| Financial District | Manhattan | $960,000 |
| Gramercy Park | Manhattan | $937,500 |
| Greenwich Village | Manhattan | $922,500 |
| Flatiron District | Manhattan | $915,000 |
| Sutton Place | Manhattan | $912,500 |
| Clinton - Hell's Kitchen | Manhattan | $911,000 |
| Central Midtown | Manhattan | $905,000 |
| Lenox Hill | Manhattan | $862,500 |
| Lower East Side | Manhattan | $825,000 |
| Murray Hill | Manhattan | $810,000 |
| Kips Bay | Manhattan | $722,500 |
| Turtle Bay | Manhattan | $695,000 |
| Harlem | Manhattan | $590,585 |
| East Harlem | Manhattan | $575,000 |
| Washington Heights | Manhattan | $525,000 |
| Inwood | Manhattan | $390,000 |
| Tudor City | Manhattan | $342,500 |
Residential Properties Sold in Central Midtown
| Property Type | Median sale price | Y-o-Y | Median sale price/sqft | Y-o-Y | Transactions |
| Condos | $2.4M | 8.3% | $1K | -19.5% | 22 |
| Coops | $650K | 16.1% | $995 | 17.8% | 22 |
| Houses | - | - | - | - | 0 |
The median condo price in Central Midtown in August was $2.4M, up 8.3% year-over-year. Median coop sale price in Central Midtown were $650K, a change of 16.1% year-over-year. There was no statistically significant data for median house sale price activity for the period of August in Central Midtown.
See also
Manhattan Commercial Market Trends
Manhattan Multifamily Market Trends
Manhattan Retail Market Trends
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Central Midtown Neighborhood Guide
When tourists imagine New York, they often imagine the entire city to be exactly like Central Midtown: skyscrapers everywhere, bustling crowds, car horns honking on every street corner, and neon lighting up the night. One of the most famous spots in the entire world, Times Square, is located in this famous neighborhood, and though it has one of the highest concentrations of hotels anywhere in the city, Central Midtown also includes numerous quiet side streets with picturesque New York City charm, while the dizzying variety of eateries, nightlife, and shopping venues would be difficult to beat.
Architecture and landmarks
Preservation efforts in Central Midtown have not been as successful as they have been in other areas of the city. As a result, there are many new condos and office buildings being built all the time. Some developers do maintain the integrity of the exterior of the building, such as the recent renovation of Christ Church, built in 1905, to a 28-story hotel. That being said, there are many existing landmarks in the area, including Art Deco buildings like the General Electric Building, the Chanin Building, the Chrysler Building, the Empire State Building, and Rockefeller Center. The Museum of Modern Art, Radio City Music Hall, Trump Tower, Tiffany's and St. Patrick's Cathedral are also located on the busy streets of Central Midtown, as are an incredible variety of famous retailers and some of the world's most iconic hotels.
Transport
There may be nowhere in the world with more public transportation options than Midtown Manhattan. With over a dozen subway lines, dozens of bus lines - including express buses - there's always an easy way to get where you're going. The Port Authority Bus Terminal, Penn Station, and Grand Central Terminal are all in Midtown.
Schools
There is only one elementary school zoned for this neighborhood - PS 59 Beekman Hill International - and no zoned middle school. One public high school, the Art and Design High School on 2nd Avenue, serves the community, and there are several options in neighboring areas like Turtle Bay and Lenox Hill.
Health
There are two main options for general medical services in Central Midtown, the New York Presbyterian Hospital and the NYU Langone Medical Center on Madison Avenue. Residents can also visit a handful of urgent care clinics, private physicians, and alternative health options such as acupuncturists and chiropractors.
Safety
The good news is that most crimes in the area are property crimes and serious crime rates have dropped 7% in the last decade. The high overall crime rate is due to the large number of tourists and foot traffic the area sees. In 2016, there were 45.63 crimes per 1,000 residents reported in the Manhattan North Precinct, which covers most of the neighborhood. The Manhattan South Precinct that patrols the lower end of Midtown had 135.44 crimes per 1,000 residents over the same period.
Things to do
Since Central Midtown is considered the tourist hub of New York City, it's not surprising that there's a seemingly endless list of things to do. Popular attractions include a trip to the Plaza Hotel, an awe-inspiring stop at St. Patrick's Cathedral, a stroll through Central Park, or shopping along 5th and Madison avenues. In fact, Midtown is one of the best shopping districts not just in the U.S. but in the world. Check out legendary spots like Bergdorf Goodman and Saks Fifth Avenue, or visit the hundreds of boutiques.
For those with an appetite, there are many delicious eateries in the area for every need from a quick bite to an elaborate 12-course meal. American fare can be found at Park Room, Nerai has a unique take on Greek classics, and The Modern is regarded as the apex of fine French-American dining. To quench your thirst for a cocktail, head over to the swanky Salon de Ning, listen to jazz at The Rose Club, or visit the Milk Bar Midtown for some top-tier desserts.
Library lovers will find plenty of opportunity in Central Midtown. The world-famous Main Branch, which is now known as the Stephen A. Schwarzman Building, may be the busiest, but the New York Public Library also operates numerous other branches in the area, including the Science, Industry, and Business Library.