NYU Says Manhattan Home Prices Exceed Prerecession High

Law360, New York (September 27, 2013, 7:09 PM EDT) -- As foreclosures continue to rise around the city of New York, sale prices for homes in Manhattan have surpassed their prerecession peak, according to new research released Friday by New York University's Center for Real Estate and Urban Policy.

In the second quarter of 2013, the median sale price per unit for condominiums — the most common type of housing — in Manhattan jumped to a new high of $1.14 million. Sales volume also skyrocketed in the borough, increasing 43.3 percent over the last quarter to...
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