Some 49 of the 324 apartments in Carnegie House, near New York’s Central Park, have been listed for sale this year as residents act early to avoid higher ground rents when the lease is reset in 10 years.
Carnegie House does not own the land it is built on. The co-op’s board tried to buy it last year but its bid failed. The ground lease is due for renewal in 2025.
The median asking price for apartments in the building is 2.5% lower than last year, at $629,000. The median sales price for apartments sold this year is unchanged at $620,000. That compares with a median price for Manhattan in general of $980,000 in Q2, figures from Miller Samuel and Douglas Elliman Real Estate show.
