The Real Deal New York

The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

September 28, 2016 04:00PM
By Kyna Doles

Market Reports

Click to enlarge (credit: REBNY and Ariel Property Advisors)

According to the latest batch of market reports, Manhattan is getting 20 million square feet of new office space over the next five years, the number of multifamily deals continued to fall and one Williamsburg retail corridor saw the biggest jump in asking rents.

Residential

National apartment sizes: RCLCO

Newly-built apartments are getting smaller across the U.S. The average size of an apartment across 20 of the country’s top metro areas shrunk 70 square feet (7 percent) since 2010. Read the full report here.

Commercial

Summer 2016 Brooklyn retail report: REBNY

Williamsburg’s North 6th Street corridor saw the biggest increase in retail rents. Average asking rents along the corridor reached $259 per square foot this summer, a 24 percent jump over the last 12 months. Read the full report here.

July 2016 NYC multifamily sales: Ariel Property Advisors

The number of multifamily deals in New York City continued to decline in July as prices strengthened. Sales of multifamily buildings totaled $1.1 billion for the month, a 6 percent decrease in dollar volume year-over-year. Read the full report here.

NYC office construction: New York Building Congress

Developers will add more than 20 million square feet of new office space in Manhattan between 2016 and 2021. Nearly 10 million square feet will be added in Brooklyn. Read the full report here.

NYC construction accidents: Office of Mayor Bill de Blasio

Construction accidents rose for the fourth consecutive year. Between June 2015 and June 2016 the city saw 526 construction-related accidents, a 62 percent jump over the same period last year. Read the full report here.

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