Manhattan

Market Overview 4Q 10
A Quarterly Survey of Manhattan Co-op and Condo Sales

Prepared by Miller Samuel Inc.

Appraisal and consulting services covering
the New York City metropolitan area

Seasonality returned to the Manhattan Market Matrix Current Qtr % Chg Prior Qtr % Chg Prior Year Qtr
Average Sales Price $1,482,650 -0.3% $1,487,472 14.4% $1,296,156
housing market Average Price per Square Foot $1,058 -3.4% $1,095 0.7% $1,051
Number of sales below last year’s end of Median Sales Price $845,000 -7.5% $914,000 4.3% $810,000
year surge There were 2,295 sales in the fourth New Development $1,060,738 -9.4% $1,170,988 -5.7% $1,125,000
quarter, 7.2% below 2,473 sales in the same period Re-Sale $800,000 -8.8% $877,200 7.4% $745,000
last year and 13.8% below the 2,661 sales of the Number of Sales 2,295 -13.8% 2,661 -7.2% 2,473
prior quarter. However, the comparison to the same Days on Market (from Last List Date) 125 0.1% 125 -38.8% 204

period last year is a comparison to a quarter that Listing Discount (from Last List Price) 8% 5.8% 12.8%
Listing Inventory 7,232 -11% 8,123 5.6% 6,851
represented the largest fourth quarter market
share of sales activity in more than 20 years. QUARTERLYAVERAGESALESPRICE/MANHATTAN
QUARTERLYAVERAGESALESPRICE/MANHATTAN
When comparing the 13.8% decline in sales from $2,000,000
$2,000,000
the third to fourth quarter, the change exceeded $1,800,000
$1,800,000
the 20-year 7.5% average decline. Fourth quarter $1,600,000
$1,600,000
listing inventory increased 5.6% to 7,232 from $1,400,000
$1,400,000
$1,200,000
$1,200,000
6,851 in the prior year quarter—the same quarter
$1,000,000
$1,000,000
that had the record surge in sales that worked off
$800,000
$800,000
excess inventory during that period. The fourth $600,000
$600,000
quarter inventory total was 11% below 8,123 in $400,000
$400,000 00 01 02 03 04 05 06 07 08 09 10
00 01 02 03 04 05 06 07 08 09 10
the prior quarter. The decline was greater than
NEWDEVELOPMENTMARKETSHAREMEDIANSALESPRICE
NEWDEVELOPMENTMARKETSHAREMEDIANSALESPRICE New
New Developement Re-sale
the 3.4% average decline over the past decade, Developement Re-sale
$2,000,000
$2,000,000 50%
50%
suggesting the new year will begin with a modest
level of inventory entering into one of the seasonally $1,600,000
$1,600,000 Median
40%
40%
Median Sales
Sales Price
Price
highest sales periods of the year.
$1,200,000
$1,200,000 30%
30%
Price indicators above prior year quarter due
$800,000 20%
20%
to shift toward larger units The median sales $800,000

price of a Manhattan apartment was $845,000, up $400,000

$400,000 Market
10%
10%
Market Share
Share New
New Development
Development (Units)
(Units)
4.3% from $810,000 in the same period last year,
$0 4Q 0%
0%
but down 7.5% from $914,000 in the prior quarter. $0 4Q 09
09 1Q
1Q 10
10 2Q
2Q 10
10 3Q
3Q 10
10 4Q
4Q 10
10

Median sales price edged higher due to the shift AVERAGEPRICEPERSQFT/CO-OP Downtown East Side West Side Uptown
AVERAGEPRICEPERSQFT/CO-OP
market—gained 12% causing the year over year Downtown
sales activity.East
The Side West Side
average decline over the Uptown
past two
in the mix from last year’s higher concentration of $1,200
$1,200
smaller, entry-level sales. Market share of studio and price indicators to rise. Median sales price tends decades between these two periods was 2.5%. The
$1,000
$1,000
1-bedroom apartments lost 11% market share while to decline from the third to the fourth quarter, the direction this quarter was consistent, but lower than
$800
weakest
$800 quarter of the year in terms of prices and the current quarter over quarter decline of 7.5%.
2-bedroom apartments—the largest segment of the
$600
$600
$400
$400
Visit our website to browse listings and learn more about market trends
$200
$200
4Q 10 Manhattan market overvieW  Prudential Douglas Elliman real estate

Co-op market
The other price indicators followed a similar pattern.
Average sales price jumped 14.4% to $1,482,650 Co-op sales accounted for 51.7% of all apartment
from $1,296,156 in the prior year quarter, but slipped sales in the quarter. The co-op absorption rate—the
0.3% from $1,487,472 in the prior quarter. Price per Listing inventory and number of number of months to sell all existing inventory at the
current pace of sales—is 9.3 months, faster than the
square foot edged 0.7% higher to $1,058 per square sales returned to seasonal patterns 10-year average of 10.6 months.
foot from $1,051 in the prior year quarter, but fell
Number of sales slipped and inventory
QUARTERLYAVERAGESALESPRICE/MANHATTAN
3.4% from $1,095 in the prior quarter. Price indicators rose from the same period
expanded from last years surge in sales
$2,000,000
QUARTERLYAVERAGESALESPRICE/MANHATTAN a year ago as entry-level sales lost market
Days on market and listing discount fell There were 1,186 sales in the fourth quarter,
$1,800,000
$2,000,000 share The median sales price of a Manhattan co-
sharply from prior year The number of days 6.2% below the 1,264 sales of the 2009 year end
$1,600,000
$1,800,000 op apartment was $685,000 in the fourth quarter,
between the change in the list price, if any, and surge, which was caused by the release of pent-up
$1,400,000
$1,600,000
8.7% higher than $630,000 in the prior year
contract date—known as days on market—fell $1,200,000
demand from the lack of activity earlier in the year.
$1,400,000
$1,000,000 quarter. The fourth quarter result was 11.9% below
sharply to 125 days from a record 204 days in The fourth quarter number of sales were 10.2%
$1,200,000
$800,000
$1,000,000
the $777,500 spike in the prior quarter, caused
the same period last year. The current level was below the 1,320 sales seen in the prior quarter,
$600,000
$800,000 by the drop out of the entry-level segment and
unchanged from the prior quarter and consistent trending in the same direction but greater than the
$400,000 surge
with the 126 days on market average of the past 15
$600,000 00 01 02 03 04 05 in 2-bedroom
06 market 08
07 share. The 09 other10 price
5.5% average third to fourth quarter change of the
$400,000 indicators followed similar patterns. The average
years. Similarly, the percentage difference between 00 01 02
the 03
NEWDEVELOPMENTMARKETSHAREMEDIANSALESPRICE
past decade. Listing inventory ended 04
quarter at 05 06 07 Developement
New 08 09 Re-sale10

$2,000,000
sales price was $1,200,589, 23.1% higher 50%than
the listing price at time of contract and the contract 3,687, 20.1% higher than the 3,069 inventory level
NEWDEVELOPMENTMARKETSHAREMEDIANSALESPRICE New Developement Re-sale
the $975,049 average sales price of the prior 50% year
price—the listing discount—fell sharply to 8% from $2,000,000
of$1,600,000
the prior year quarter that represented the lowest 40%
Median Sales Price quarter and 4.1% below the $1,251,959 average
its 15 year high of 12.8% in the prior year quarter, level of inventory of the last 3 years and was caused
$1,600,000 sales price of the prior quarter. Price per square 40%
$1,200,000 Median Sales Price 30%
but increased 2.2% from 5.8% in the prior quarter. by the surge in demand at the end of 2009. Listing
$1,200,000 foot edged 0.8% higher to $928 from $921 in the
30%
For the past fifteen years the increase in listing inventory
$800,000fell 9.3% from 4,065 in the third quarter 20%
prior quarter, but fell 6.3% from $990 in the prior
discount between the third and fourth quarters has to 3,687 in the fourth quarter, slightly below with the
$800,000 20%
$400,000 quarter. Market Share New Development (Units)
10%
averaged 1.3% so the current increase appears third to fourth quarter decade average of 10.2%.
$400,000 10%
consistent with seasonal trends. $0 4Q 09 1Q 10 2Q 10
Market Share New Development (Units)
3Q 10 4Q 10 0%

Seasonality decided to stay a while Beginning $0 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 0%

AVERAGEPRICEPERSQFT/CO-OP Downtown East Side West Side Uptown
in the third quarter, the distribution of sales by
$1,200
AVERAGEPRICEPERSQFT/CO-OP Downtown East Side West Side Uptown
number of bedrooms has returned to a pattern
$1,200
$1,000
more consistent with long-term trends. Emphasis
$1,000
$800
in 2009 was on the first time buyer and entry
level apartments as many consumers transitioned $800
$600
from renters to purchasers, enticed by newfound $600
$400
affordability caused by double digit price declines, $400
$200
a federal tax credit and historically low mortgage
$0
$200 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10
rates. At the end of 2009 and the beginning of
$0 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10
2010, the luxury market re-appeared in the real LISTINGDISCOUNTVSDAYSONMARKET/CO-OP
estate conversation as consumers took advantage 20%
LISTINGDISCOUNTVSDAYSONMARKET/CO-OP 200
of some of the largest price discounts from the 20% 200
16% 175
market’s peak. By the third quarter and continuing
16% 175
through the fourth quarter, the middle of the housing 12% 150
Days On Market
market stopped underperforming relative to its 12%
8%
150
125
higher and lower counterparts. Looking forward, Days On Market
8% 125
4% 100
macro economic issues such as unemployment and Listing Discount

tight credit need to ease in order to see meaningful 4% Listing 100

0% 4QDiscount
09 1Q 10 2Q 10 3Q 10 4Q 10 75
improvement beyond the rebound experienced from 0% 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 75
2009 to 2010. AVERAGEPRICEPERSQFT/CONDO Downtown East Side West Side Uptown
$2,500
AVERAGEPRICEPERSQFT/CONDO Downtown East Side West Side Uptown
$2,500
Co-op Market Matrix Current Qtr %$2,000
Chg Prior Qtr % Chg Prior Year Qtr Co-op Apartment Mix % of Total Median Price
Average Sales Price $1,200,589 -4.1%
$2,000 $1,251,959 23.1% $975,049 Studio 14% $345,000
$1,500
Average Price per Square Foot $928 -6.3% $990 0.8% $921
Median Sales Price $685,000 $1,500
-11.9% $777,500 8.7% $630,000 1 bedroom 40% $568,000
$1,000
Number of Sales 1,186 -10.2%
$1,000
1,320 -6.2% 1,264 2 bedroom 31% $1,150,000
$500
Days on Market (from Last List Date) 118 11.3% 106 -21.9% 151
3 bedroom 10% $2,250,000
Listing Discount (from Last List Price) 5.8% $500 2.8% 18.3%
$0 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10
Listing Inventory 3,687 -9.3% 4,065 20.1% 3,069 4+ bedroom 3% $5,040,337
$0 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10
LISTINGDISCOUNTVSDAYSONMARKET/CONDO
15%
LISTINGDISCOUNTVSDAYSONMARKET/CONDO 300
15% 300
Visit our website
12% to browse listings and learn more about market trends 240
Days On Market
12% 240
9% 180
 $400,000
$600,000 00 01 02 03 04 05 06 07 08 09 10
$400,000
NEWDEVELOPMENTMARKETSHAREMEDIANSALESPRICE
00 01 02 03 04 05 06 07 Developement
New 08 09 Re-sale10
$2,000,000 Prudential Douglas Elliman real estate
NEWDEVELOPMENTMARKETSHAREMEDIANSALESPRICE New Developement Re-sale 50%
 Manhattan market overvieW 4Q 10
$2,000,000 50%
$1,600,000 40%
Median Sales Price

Condo market
$1,600,000 40%
$1,200,000 Median Sales Price 30%
either more optimism by sellers for 2011 or heavy
Listing discount and days on market declined
$1,200,000
$800,000
30%
20% contract activity at the end of the fourth quarter or
The average days on market for a Manhattan co-
$800,000
op $400,000
was 118 days, 33 days faster than 151 days in Price indicators edged higher as
Market Share New Development (Units)
20%
10% a combination of both. The combination of falling
sales and falling listing inventory resulted in a 9.6
the$400,000
prior $0
year quarter, but 12 days slower
4Q 09 1Q 10
than 106 2Q 10 listing inventory slipped
Market Share New Development (Units)
3Q 10 4Q 10
10%
0%
month absorption rate, consistent with the 9.4
days in the prior quarter. This metric averaged 126 Number of sales
$0 4Q 09 1Q 10 2Q 10 3Q 10 declined from 4Q 10 prior year
0% month average absorption rate of the past decade.
days over the past decade. However, from the point Downtown
AVERAGEPRICEPERSQFT/CO-OP
quarter There East Side
were 1,109 West Side
sales in theUptown fourth Condo sales comprised 48.3% of all sales in the
$1,200
where the average property is originally listed, the Downtown
AVERAGEPRICEPERSQFT/CO-OP quarter, 8.3%Eastbelow
Side
1,209West Side
sales Uptown
in the prior year fourth quarter, higher than the 42.7% average of
average
$1,000 days on market was 197 days indicating
$1,200
quarter and 17.3% below 1,341 sales in the prior the past 20 years as condos have been added to
that sellers were waiting an average of 79 days or
$1,000
$800 quarter. Historically, the fourth quarter is the the housing stock through new development. To
more
$800
nearly three months before the property was
$600 weakest in terms of sales activity averaging an illustrate the trend, the fourth quarter of 1990 had a
priced close enough to market value to receive an
$600
$400 8.4% drop from the third quarter over the past condo sales market share of 33.3%.
offer. This indicator expanded over the past year
$400
$200183 days suggesting that seller optimism decade. The 17.3% quarter over quarter decline Price indicators edged above prior year
from
$0 the market
$200
exceeds the 10-year average, but is consistent quarter due to shift in sales mix The median
about 4Q 09expanded faster 1Q 10than market 2Q 10 3Q 10 4Q 10
with the direction of the seasonal pattern. Listing sales price of a Manhattan condo in the fourth
conditions
$0 actually
4Q 09reflected. The 1Qlisting
10 discount 2Q 10 3Q 10 4Q 10
LISTINGDISCOUNTVSDAYSONMARKET/CO-OP inventory fell 6.3% to 3,545 from 3,782 in the prior quarter was $997,885, the first time this metric
fell sharply to 5.8% from a decade high of 18.3%
20% 200 has fallen below the $1,000,000 threshold in 2010,
in the prior year quarter, but edged higher than the year quarter and fell 12.6% from 4,058 in the prior
LISTINGDISCOUNTVSDAYSONMARKET/CO-OP
20% quarter. Listing inventory has averaged a 2.6% 200 but still 0.3% higher than the $995,000 median
three
16% year low of 2.8% in the prior quarter. 175
decline in the third to fourth quarter transition as sales price in the prior year quarter. This metric is
16% 175
12% 150
some sellers opt to pull listings from the market that still 10.9% below $1,120,000 in the prior quarter.
Days On Market 150
12% There was a pronounced year over year shift in the
8% did not sell or delay their entry until the new 125
year.
Days On Market
8% The greater decline in 2010 than the decade125
long quarterly mix of size categories. Sales of entry-
4% Listing Discount 100
average, while consistent in direction, suggests level apartments—studio and 1-bedrooms—lost
4% Listing 100
0% 4QDiscount
09 1Q 10 2Q 10 3Q 10 4Q 10 75 12% market share as compared to the prior year
0% 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 75 quarter. The drop was more than offset by the 15%
AVERAGEPRICEPERSQFT/CONDO Downtown East Side West Side Uptown
increase in market share of 2-bedroom apartments
$2,500
AVERAGEPRICEPERSQFT/CONDO Downtown East Side West Side Uptown
sold. The larger units sold increased the aggregate
$2,500
$2,000 results, thereby characterizing the condo market
$2,000 as rising when it is currently seeing relatively
$1,500
stable pricing on an individual unit basis. The other
$1,500
$1,000 price indicators showed similar patterns. Price per
$1,000 square foot increased 0.9% to $1,198 in the fourth
$500
$500
quarter, from $1,187 in the prior year quarter and
$0 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10
essentially unchanged from $1,199 in the prior
$0 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 quarter. Average sales price was $1,784,296 in the
LISTINGDISCOUNTVSDAYSONMARKET/CONDO
15%
LISTINGDISCOUNTVSDAYSONMARKET/CONDO 300 fourth quarter, 9.3% higher than $1,631,872 in the
15% 300 prior year quarter and 3.8% above $1,719,296 in
12% 240
Days On Market the prior quarter.
12% 240
180
9% Days On Market Days on market fell sharply The average days
9% 180
6% 120 on market for a Manhattan condo was 132 days,
6% 120 almost half the 259 days in the last quarter of 2009
3% 60
Listing Discount and 11 days faster than the 143 day average of the
3% 60
0
0% 4Q 09 Listing
1QDiscount
10 2Q 10 3Q 10 4Q 10 prior quarter. Listing discount increased to 10.4%
0% 0 from 7.1% in the prior year quarter and from 8.8%
4Q 09 1Q 10 2Q 10 3Q 10 4Q 10
in the prior quarter.
AVERAGEPRICEPERSQFT/LUXURY AVERAGEPRICEPERSQFT/LOFT
Condo
$2500 Market Matrix
AVERAGEPRICEPERSQFT/LUXURY Current Qtr % Chg
$1,500 Prior Qtr % Chg
AVERAGEPRICEPERSQFT/LOFT Prior Year Qtr Condo Apartment Mix % of Total Median Price
Average
$2200
$2500 Sales Price $1,784,296 3.8%
$1,500 $1,719,296 9.3% $1,631,872 Studio 11% $460,000
$1,300
Average
$2200 Price per Square Foot
$1900 $1,198 -0.1% $1,199 0.9% $1,187
$1,300
$1,100 $1,120,000 1 bedroom 27% $693,600
Median Sales Price $997,885 -10.9% 0.3% $995,000
$1600
$1900
Number of Sales 1,109 -17.3%
$1,100
$900 1,341 -8.3% 1,209 2 bedroom 43% $1,315,000
$1600
$1300
Days on Market (from Last List Date) 132 -7.7% 143 -49.0% 259
$1000
$1300 Discount $900
$700 3 bedroom 15% $2,900,000
Listing 4Q 09 (from
1Q Last
10 List
2QPrice)
10 3Q 10 10.4%
4Q 10 4Q 098.8%1Q 10 2Q 10 3Q 10 7.1%
4Q 10
$1000 Inventory
Listing 3,545 -12.6% $700 4,0581Q 10 -6.3% 3,782 4+ bedroom 4% $6,275,000
4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 4Q 09 2Q 10 3Q 10 4Q 10

Visit our website to browse listings and learn more about market trends
 Listing Discount 40%

0% 4Q 09 1Q 10 30% 2Q 10 3Q 10 4Q 10 75
4Q 10 Manhattan market overvieW
AVERAGEPRICEPERSQFT/CONDO 20%
 Prudential Douglas Elliman real estate
Downtown East Side West Side Uptown NEWDEVELOPMENTMARKETSHAREMEDIANSALESP
$2,500 $2,000,000
10%
Market Share New Development (Units)

Luxury market
$2,000 Median Sales Price
2Q 10 3Q 10 4Q 10
quarter, 26.3% higher than $4,863,673 in the
0% in the$1,600,000
fourth quarter was 142 days, nearly 100 days
$1,500 prior year quarter and 9% above the $5,636,600 faster than the 240-day average in the prior year

Price indicators rose as larger

Downtown
$1,000
East Side West Side Uptown average sales price of the prior quarter. The average quarter but edged higher from 136 days in the prior
$1,200,000
sales price was at its the highest level since the quarter. Properties within the luxury market took
units sold
$500 first quarter of 2009 record of $7,801,442 when
$800,000
17 days longer to be sold than the overall market
Price indicators rose above the prior year
the luxury re-sale market went dormant and new consistent with the 19-day average difference
$400,000
quarter
$0 Median 4Q 09sales price of1Q 10 a Manhattan 2Q 10 3Q 10 4Q 10
development closings, reflecting contracts signed over the past decade. The listing discount moved
luxury apartment was $4,350,000, up 15.1% from
LISTINGDISCOUNTVSDAYSONMARKET/CONDO 12 to 18 months earlier, comprised more than in the opposite
$0 direction to 11% up from
1Q 09 2Q 094.3% in 3
$3,780,000
15% in the prior year quarter, but slipped
68% of the closings for the period. Market share300 of the prior year quarter and higher than 7.3% in the
1% from $4,393,749 in the prior quarter. The year
new development closing was 19.1% in the fourth prior quarter. Monthly absorption rate declined to
12%year quarterly gain was a shift towards larger
over 240
2Q 10 3Q 10 4Q 10 quarter,
Days consistent with the 19% market share in
On Market 12.8 from 16.8 in the prior year quarter suggesting
sales.
9% The average square footage of a luxury 180
the overall market. The luxury market began at that the increase in the listing discount was more
apartment was 2,923 in the fourth quarter, 12.1%
6% $3,050,000 in the fourth quarter. 120 attributable to over confidence in setting list prices
higher than 2,606 in the third quarter. This gain 200 was
Days on market fell sharply from same by sellers than a sign of a slow down in the luxury
also3%compounded due to the premium, as measured 60
Listing Discount 175 period last year The luxury market saw a market segment.
in 0%
price per square foot, for larger contiguous 0
4Q 09 1Q 10 150 2Q 10 significant decline
3Q 10 in the time it4Q
took
10 for a properly Note: This sub-category is the analysis of the top ten percent of all
space. This is more evident in the average sales co-op and condo sales. The data is also contained within the co-op
Days On Market priced property to sell. The days on market average
price metric that averaged $6,141,426 in the fourth
125 and condo markets presented.

AVERAGEPRICEPERSQFT/LUXURY 100 Luxury Market Matrix

AVERAGEPRICEPERSQFT/LOFT Current Qtr % Chg Prior Qtr % Chg Prior Year Qtr
$2500 Average
$1,500 Sales Price $6,141,426 9% $5,636,600 26.3% $4,863,673
2Q 10 3Q 10 4Q 10 75
$2200 Average Price per Square Foot $2,101 10.8% $1,897 12.6% $1,866
$1,300
$1900 Median Sales Price $4,350,000 -1% $4,393,749 15.1% $3,780,000
Downtown East Side West Side Uptown
$1,100 of Sales
Number 230 -13.5% 266 -6.9% 247
$1600
Days on Market (from Last List Date) 142 4.4% 136 -40.8% 240
$1300 $900
Listing Discount (from Last List Price) 11% 7.3% 4.3%
$1000 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 $700Inventory
Listing 4Q 09 1Q 10 2Q 10 3Q 10 979
4Q 10 -12% 1,112 -29.3% 1,384

Loft market
quarter, 11.6% above $1,400,000 in the prior year prior quarter. As a result, the monthly absorption
quarter and 5.8% below $1,660,000 in the prior rate was 8.3 months, up nominally from 8 months
quarter. in the prior year quarter and from 8.2 months in the
Days on market
2Q 10 3Q 10 fell sharply
4Q 10 as
prior quarter.
Both sales and listing inventory declined
listing inventory declined There were 169 loft sales in the fourth quarter, Listing discount and days on market fell
Price indicators above prior year quarter
300 7.1% below the 182 sales in the same perid last sharply from prior year quarter Days on market
as average size jumped The average 240
square year and 11.1% below the 190 sales in the prior was 131 days, nearly two months faster than 190
Days On Marketof
footage a Manhattan loft sale was 1,948 in the quarter. Loft market share of total sales was 7.4%, days in the prior year quarter, but up 27 days from
180
fourth quarter, 17.8% larger than 1,654 square feet the same as the prior year quarter and consistent the prior quarter, the latter being a seasonal pattern.
in the prior year quarter and 7.3% larger than 1,816
120 with the 8% ten year average. Despite the decline The listing discount was 5.8%, down sharply from
square feet in the prior quarter. This rise in average in the number of sales, listing inventory declined the 12.8% spike and ten year high in the prior year
60
size caused the price indicators to see year over over the same periods. There were 467 listings in quarter and up nominally from 5.6% in the prior
0
2Q 10 year quarterly increases. The 4Q
3Q 10 median
10 sales price the fourth quarter, down 3.9% from the prior year quarter. Note: This sub-category is the analysis of all co-op and
condo loft sales available. The data is also contained within the
of a loft apartment was $1,563,013 in the fourth total of 486 and 10.4% below 521 listings in the
co-op and condo markets presented.

AVERAGEPRICEPERSQFT/LOFT Loft Market Matrix Current Qtr % Chg Prior Qtr % Chg Prior Year Qtr
$1,500 Average Sales Price $2,086,120 5.3% $1,981,389 19.5% $1,746,274
Average Price per Square Foot $1,071 -1.8% $1,091 1.4% $1,056
$1,300
Median Sales Price $1,563,013 -5.8% $1,660,000 11.6% $1,400,000
$1,100 Number of Sales 169 -11.1% 190 -7.1% 182
Days on Market (from Last List Date) 131 26% 104 -31.1% 190
$900
Listing Discount (from Last List Price) 5.8% 5.6% 12.8%
$700 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 Listing Inventory 467 -10.4% 521 -3.9% 486

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212.891.7000 212.768.8100 156 Montague St. 718.780.8100 • 189 Court St. 718.522.2929 • 299 Bedford Ave. 718.486.4400 • 154 Seventh Ave. 718.840.2000
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