Trump will provide GlobeSt.com with quarterly analyses of the luxury condominium market in Manhattan. "By applying reporting methods used to create the Dow Jones Industrial Average," says Donald J. Trump, chairman, president and CEO of the Trump Organization, "The index represents the largest, most similar market segment that can be correctly measured."
The reports will focus on sales activity of one-, two- and three-bedroom condos in the top 50 residential buildings in New York City. Links to the data currently appear on the GlobeSt.com homepage, the New York City news page and the New York City Local MarketData page.
"The addition of the Trump luxury condominium report adds yet another dimension to the ever-broadening array of informational services provided by GlobeSt.com," states Jonathan Schein, GlobeSt.com's publisher and president/CEO of parent organization Real Estate Media.
Report highlights include:
- One-bedroom sale prices rose 6% above the previous quarter, closing just 2% below record levels of $724,000. Two-bedroom prices leveled off, while 3-bedroom sales pulled out of a recent tailspin to gain 12% and end at $2,404,000.
- While the sales volume of one-bedroom units fell by 25%, 2-bedroom sales were able to rebound from a 2-year low last quarter, gaining 12%. Similarly, a 13% upswing in 3-bedroom sales volume indicates a renewed confidence by the family segment in Manhattan, the report concludes.
"To me, the most satisfying statistic of the quarter was the large increase of three-bedroom sales," says Trump. "It means that, despite recent events, more families have decided to make New York City their home, which is great news for the real estate industry, our local economy and to New Yorkers in general.
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