The latest batch of reports found that Crown Heights had the most new development sales in Brooklyn and construction spending is expected to reach record levels by next year.
Q3 2015 Manhattan new development sales: MNS
New development sales rose 58.4 percent over the last quarter, with 502 units sold in the third quarter. Total sales volume was up 23 percent to $1.5 billion over the three months. Read the full report here.
Q3 2015 Brooklyn new development sales: MNS
New development sales soared 173 percent in the third quarter over the previous quarter, and Crown Heights accounted for 20 percent of the borough’s sales. Total sales volume was up 136 percent from the last quarter to $150.3 million. Read the full report here.
Q3 2015 Manhattan and Brooklyn rent prices: StreetEasy
Median rents in Manhattan reached $3,339 in the third quarter, a 9.5 percent increase over last year. Brooklyn’s median rent climbed to $2,600 during the same period. Read the full report here.
Q3 2015 NYC multifamily sales: Ariel Property Advisors
Multifamily sales totaled $3.8 billion in the third quarter, up 21 percent from the previous quarter. The city saw 184 transactions involving 369 building sales, a decrease of 15 percent and 1 percent respectively. Read the full story here.
Rethinking Third Avenue: Savills Studley
Leasing activity along the Third Avenue corridor between 39th and 57th streets has accelerated and available space has fallen 50 percent over the last few months. Read the full report here.
NYC construction spending: New York Building Congress
Construction spending across New York City is expected to reach $40 billion by next year, for the first time in the city’s history. Government spending accounted for 32 percent of all spending this year, residential buildings made up 38 percent, while hotels and office buildings made up 30 percent. Read the full story here.