The Real Deal New York

The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

July 28, 2016 07:30AM
By Kyna Doles

Click to enlarge: (credit: TerraCRG, CBRE and Savills Studley)

Click to enlarge: (credit: TerraCRG, CBRE and Savills Studley)

According to the latest batch of New York City market reports, builder confidence slipped in the first half of the year and the investment sales market saw fewer transactions in the second quarter. On the office leasing end, landlords continued to lower their asking rents and Downtown saw a major dip in leasing activity compared to 2015. Check out more in our roundup of the week’s real estate market reports.

Residential

July 2016 builder confidence: National Association of Home Builders

Builder confidence for single-family homes dipped slightly in July, down one point from June. Confidence is also expected to fall three points in the next six months. Read the full report here.

Commercial

Brooklyn semi-annual investment sales: TerraCRG TRData LogoTINY

Brooklyn’s investment sales market slowed in the first half of the year after reaching a record high in 2015. Dollar volume fell 30 percent year-over-year to $3.6 billion and transactional volume was down from 1,011 to 771 sales. Read the full report here.

Q2 2016 NYC office leasing: Savills Studley

Manhattan leasing activity totaled 8 million square feet in the second quarter, hitting one of its highest levels in the last two years. Overall asking rent is down to $73.44 from $75.34 in the first quarter. Read the full report here.

Q2 2016 Midtown Manhattan office leasing: CBRE

Downtown’s availability rate dropped year-over-year to 11.5 percent and asking rents reached a quarterly high of $57.47 per square foot. Read the full report here.

Q2 2016 Downtown Manhattan office leasing: CBRE

Leasing activity Downtown is down 32 percent compared to the same period last year and asking rent is up 4 percent to $80.87 per square foot. Read the full report here.

Q2 2016 NYC multifamily sales: Ariel Property Advisors

New York City’s multifamily market saw fewer sales but higher prices for deals that traded in the second quarter of 2016. Read the full report here.

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

Correction: An earlier version of this report mischaracterized when i-sales slipped; it was the first half of 2016.

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