Manhattan Condo Sales Hit Record

The sale price of Manhattan condominiums set a record in 2013, fueled by trophy properties that helped push prices higher than even the last real-estate boom, city records show.

They were driven higher by closings in new condominiums such as Walker Tower, in Chelsea, and 18 Gramercy Park—developments with large apartments created for wealthy New Yorkers and international buyers, brokers said.

There were more than 50 closings averaging $8.9 million or more in just four expensive new projects in 2013, sales data shows. The year ended with the median condominium price setting a record of $1.3 million in the fourth quarter.

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