A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.More than a third of the condo apartments sold in Manhattan over roughly the past year sold at a loss, although the top end of the market fared better, according to a new report.Despite the steady stream of headlines about eye-popping sales and soaring prices in Manhattan real estate, the median price per square foot for Manhattan condos is essentially flat from a decade ago, according to a report from Brown Harris Stevens. One in three condo resales between July 2024 and June 2025 were sold at a loss, according to the report. When including inflation, transaction costs and renovations, the share of losses by condo sellers is likely even higher, according to real estate analysts.While the data didn’t include co-ops, analysts say co-op prices have generally fared the same or slightly worse than condos.”For the last decade, Manhattan has essentially been moving sideways,” said Jonathan Miller, CEO of Miller Samuel, the appraisal and real estate research firm.The long-term price weakness in Manhattan stands in stark contrast to much of the country, where home prices are up substantially since the pandemic, creating a widespread affordability crisis. Only 2% of home sellers nationally who purchased homes before the pandemic are at risk of selling at a loss, according to Redfin.Get Inside Wealth directly to your inboxThe Inside Wealth newsletter by Robert Frank is your weekly guide to high-net-worth investors and the industries that serve them.Subscribe here to get access today. Manhattan is still among the most expensive markets in the country, especially on a per-square-foot basis. The median price for Manhattan sales in the third quarter was $1.2 million, while the average is just under $2 million, according to Miller Samuel and Douglas Elliman. Yet over the longer term, an analysis of resales finds that the timing of purchases in Manhattan typically matters more than location.Condo own …
