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Manhattan Homeowners Are Looking for 40% Returns—In Just Five Years

  • Apartment owners seeking buyers grapple with growing supply
  • Brokers have to tell sellers ‘things they don’t want to hear’
Manhattan's Upper West Side.
Photographer: Craig Warga/Bloomberg
Updated on

Some Manhattan apartment owners trying to sell their homes have big dreams these days: They’re seeking about 40 percent more than they paid for the properties, even if they were bought within the past five years.

This year through September, sellers listing apartments priced at $3 million or less that were bought in 2010 sought a median of 47 percent more than their purchase price, data compiled by StreetEasy show. Owners who bought in 2011 have returned homes to the market for a median 42 percent markup, and buyers from 2012 listed for 35 percent more, according to the real estate website.