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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel
According to the latest batch of market reports, office asking rents are rising, Queens will be the borough to watch out for in 2016 and Manhattan’s median sales shattered records in 2015.
Residential
Year-end Manhattan sales: CityRealty
Manhattan’s median sales for co-ops and condos were both above $1 million for the first time in 2015. Residential sales for the year totaled approximately $24 billion and 12,700 units sold. Read the full report here.
2016 Sales and rental forecasts: StreetEasy
Median sales and rental prices across New York City are expected to slow next year, and Jamaica will likely be the hottest new neighborhood of 2016. Read the full report here.
Manhattan luxury contracts Dec.7-13: Olshan Realty
Luxury apartment sales during the second week of December slipped from the same period last year. Only 19 Manhattan apartments priced $4 million and above entered into contract, compared to 30 during the same week in 2014. Read the full report here.
Commercial
November 2015 Manhattan office leasing: Newmark Grubb Knight Frank
Manhattan asking rents are up 12 percent year-over-year to $73.81 per square foot. Leasing activity was steady with 2.8 million square feet leased during November. Read the full report here.
2015 Global office prices: CBRE
Midtown Manhattan was the most expensive office market in the Americas and ranked as the 10th most expensive in the world, with occupancy costs of $127 per square foot. Read the full report here.