The Real Deal New York

The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

June 22, 2016 04:20PM
By Kyna Doles

Newmark Grubb Knight Frank, Douglas Elliman and Property Shark

From left: Newmark Grubb Knight Frank, Douglas Elliman and Property Shark

According to the latest batch of New York City market reports, co-working spaces now occupy more than 6 million square feet across three boroughs and investors spent more than $1 billion in South Bronx real estate last month. Check out more in our roundup of the week’s market reports.

Residential

May 2016 Manhattan, Brooklyn and Queens rentals: Douglas Elliman

Manhattan’s luxury market saw the biggest chop in rental prices, Brooklyn’s median rent is up for the fifth consecutive month and Queens saw rental prices rise across all sizes. Read the full report here.

West Village home market: PropertyShark

Three new construction permits for West Village buildings were filed since the start of 2013, as developers find it difficult to get past preservation restrictions. Meanwhile, sales prices in the neighborhood continue to climb. The median sales price for a West Village home hit $1.35 million last year, compared to $1 million in 2013. Read the full report here.

Manhattan luxury contracts June 6- 12: Olshan Realty

Buying in the Manhattan luxury market slowed in the second full week of June. Only 19 contracts were signed homes priced $4 million and above, including a Baccarat Hotel & Residences duplex, which had an asking price of $54 million. Read the full report here.

Commercial

June 2016 office leasing trends: Newmark Grubb Knight Frank

Co-working spaces now occupy more than 6 million square feet across Manhattan, Brooklyn and Queens — a 767 percent growth since 2009. At least 53 shared-office providers now operate throughout the city at 180 locations. Read the full report here.

April 2016 NYC multimfaily sales: Ariel Property Advisors

Multifamily sales may be declining, but dollar volume reached $1.2 billion in April. The city saw 84 sales across 46 transactions, a dip from the prior month and same period last year. Read the full report here.

2009-205 Bronx annual development report: Office of the Bronx borough president

Developers and investors pumped $1.1 billion in South Bronx real estate in 2015, a major increase from the $140 million they spent in 2014. Investments across the borough totaled $2.4 billion last year. Read the full report here.

To view more market reports, check out the new TRData page.

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