The average sales price of an apartment in Manhattan is expected to top $US2 million ($A2.7 million) for the first time, but prices are expected to level off in 2017 after nearly doubling over the past decade.
Prices were pushed higher by a jump in sales of condominiums valued at $US10 million ($A13 million) or more, which skewed results, CityRealty, a real estate listings and data website for New York City, said.
The opening of 432 Park Avenue, a 96-story tower marketed by developers as the tallest residential building in the Americas, had an outsized effect on prices, said CityRealty research director Gabby Warshawer.
Fifty-two of the 75 units sold at the tower overlooking Central Park fetched more than $US10 million ($A13 million), she said. Some units are priced at more than $US40 million ($A53 million).
An increase in new developments and a rise in the price of existing units also lifted the market, Warshawer said.
Prices have climbed every year since 2011 but are expected to flatline next year. A lack of expensive, large new buildings will act to keep prices in check in 2017, CityRealty said.