The Average Manhattan Condo Now Costs Almost $3 Million

For the second quarter in a row, average condo sales prices Manhattan have broken records. The average sales price reached $2.9 million in the first three months of this year, according to new data from CityRealty, a sharp jump from the previous quarter’s record of $2.5 million.

Soon, according to unconfirmed reports, the Department of Transportation is going to start paving the streets of Manhattan with 14-karat gold.

The push to record numbers was driven by sales on the high end, with nearly one-quarter of all condo sales in the first quarter at or above $10 million. New luxury developments, including 432 Park Avenue and 150 Charles Street, did a lot of the lifting that drove average prices into the ionosphere.

Aggregate sales also broke records in the first quarter – rising to $4.59 billion, from $4.57 billion in the last quarter of 2015.

How do you spell b-u-b-b-l-e?