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New York

The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

Market Reports
Click to enlarge (credit: CBRE, Douglas Elliman and Ariel Property Advisors)

According to the latest batch of New York City market reports, office leasing in Midtown so far this year is down 31 percent year-over-year, average rent in Manhattan didn’t change much in June, and the number of multifamily sales picked back up in May. Check out more in our roundup of the week’s real estate market reports.

Residential

June 2016 residential rentals: MNS [TRData]

Manhattan’s average rent remained largely unchanged at $4,047 in June. Read the full report here.

Q2 2016 Manhattan residential sales: Douglas Elliman

Luxury listings priced above $5 million skyrocketed in the second quarter and the average sales price for all apartment remained on par with last quarter. Read the full report here.

Q2 2016 Brooklyn residential sales: Douglas Elliman

Brooklyn’s average sales price reached $816,827 in the second quarter. The number of sales was up year-over-year but fell slightly over the prior quarter to 1,888 units. Read the full report here.

Q2 2016 Queens residential sales: Douglas Elliman

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The average sales price for a Queens homes reached a record high of $526,943 in the second quarter and the number of sales rose 2.8 percent over the previous quarter. Read the full report here.

Commercial

May 2016 NYC multifamily investment sales: Ariel Property Advisors

The number of multifamily investment sales across New York City picked back up in May, although total dollar volume slipped below $1.2 billion. Read the full report here.

July 2016 Midtown Manhattan office leasing: CBRE

Midtown Manhattan leasing activity totaled 1.2 million square feet in June, 3 percent below the five-year average. Year-to-date leasing is down 31 percent compared to the same period last year. Read the full report here.

July 2016 Downtown Manhattan office leasing: CBRE

Leasing activity Downtown totaled 610,000 square feet in June and is up above the five-year average. Read the full report here.

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

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Manhattan Office Market