A recent commercial condo sale in New York City is a glimmer of hope in an otherwise rough real estate market. The commercial condo unit has about 1,600 square feet of space, and sold for about 1.6 million USD. This sale represents a high point is real estate value since the beginning of the sub prime mortgage crisis.

The Manhattan property went for about $1,000 a sq. ft., which brokers say is a strong price for real estate in any market, not taking into consideration the recent downturn. Commercial condominium inventory has been low, making properties hard to come by and keeping prices afloat in a sinking market.