According to New York City records, the median price for an apartment in Manhattan for the month of August 2023 was $1,150,000. The price represents a minimal decrease of .02% from the median price of $1,175,000 recorded in August 2022. The number of apartment sales, however, fell from 1,546 to 1,204 reflecting a year-over-year decrease of 22%.
August represents the tenth consecutive month that the volume of year-over-year sales have dipped in the borough.
What exactly does $1,150,000 get you in Manhattan? Let’s take a closer look.
Apartment 4-D at 543 West 122nd Street (aka The Vandewater) is a well proportioned one bedroom in a spectacular new high-rise development in Morningside Heights. This corner residence measures 770 square feet and enjoys two walls of windows that line the perimeter of the home.
The Vandewater condominium, which opened in 2021, represents the first residential highrise in this Upper Manhattan neighborhood. It sits mid-block between Broadway and Amsterdam Avenue just west of the Jewish Theological Seminary complex and within easy walking distance to both Riverside Park and Morningside Park.
The full-service building rises 33 floors and contains 183 apartments. To date, 132 of the units have sold at an average price per square foot of $1,705. Apartment 4-D sold at a per square foot price of $1,494.
In 2023 a second tower, Claremont Hall, at 41 floors, eclipsed the Vandewater as the tallest residential structure in the Morningside Heights neighborhood.
Apartment 4-D is a beautifully crafted residence rich in detail. The high ceilings and the tall casement windows are the immediate allure of this refined home. Natural light is abundant. In total, there are eight windows, including a kitchen window. Additional features include a welcoming foyer, wide plank oak floors, recessed LED lighting and a stacked washer/dryer.
The open kitchen is both elegant and functional. It features honed quartzite countertops and backsplashes, custom oak cabinets and a suite of high-end Miele appliances. The refrigerator and the dishwasher are fully integrated. A peninsula with stool seating separates the kitchen from the living area.
The ensuite bath is accessible both from the bedroom and the entry foyer. The bath soothes in a Windsor Cream marble and features a large walk-in shower with a frameless glass enclosure and a custom oak vanity topped with travertine stone.
The Vandewater is flush with amenities. The building delivers an endless array of indoor and outdoor activities across multiple floors. The shortlist includes a private rear garden, a Great Room with a catering kitchen and private dining room, a Club Room with TV and wet bar, an outdoor dining terrace with gas grilling stations, a pet spa, specialty rooms for small children and teens, bike and stroller storage. The professionally managed fitness center offers a two-lane heated pool, Yoga/Pilates room, private sauna, treatment room, and mens and womens locker rooms. There is also a front entrance porte-a-cochere and an attended parking garage,
Apartment 4-D at 543 West 122nd Street was introduced to the market in March 2023 for $1,165,000. In late June, the property was under contract. The closing price of $1.150 million represents a slight drop of .013% from the original ask.
The area is serviced by the 125th Street subway station. The 1 Train, otherwise known as the 7th Avenue local, travels from Van Cortlandt Park at 242nd Street to South Ferry at the base of Manhattan. Buses also run north and south along Broadway. The Vandewater condominium is being represented by Brown Harris Stevens Development Marketing. Please visit Linecity for more details on the building and the sale.