Fresh industry data abounded in the latest batch of market reports: Most new developments are heading Downtown; commercial and residential broker confidence increased to 9.22 in the fourth quarter; and Brooklyn’s retail corridors doubled in the last year.
2014 Manhattan Sales: Ariel Property Advisors
Manhattan’s real estate market continued its growth in 2014, with dollar and transaction volume increasing over the year, while properties traded remained static, according to a year-end sales report from Ariel properties.The dollar volume of Manhattan properties totaled $31.8 billion in 2014, a 22 percent increase from the prior year. View the full report here.
2014 Brooklyn sales: Ariel Property Advisors
Investment property sales in Brooklyn boomed in 2014, with significant increase across dollar, transaction and property volume in 2014, according to a year-end report from Ariel Property Advisors. Dollar volume totaled $6 billion for the year, a 42 percent increase compared to 2013. View the full report here.
January 2015 Manhattan & Brooklyn rental report: Douglas Elliman
Manhattan and Brooklyn rental prices indicators moved higher in January, according to a report from Douglas Elliman. The median rental price in Manhattan was up for the 11th consecutive year, and was the fourth highest median since 2004. View the full report here.
Manhattan luxury contracts Feb. 2-8, 2015: Olshan Realty
Thirty-two contracts were signed during the first week of February for homes priced $4 million and above in Manhattan, setting a record for the same time frame since Olshan began keeping track in 2006, according to a report from Olshan. View the full report here.
4Q 2014 Manhattan office report: Cresa
Manhattan’s office market ended strong in 2014, with both asking rents and occupancy levels rising during the final quarter of the year, according to a report from Cresa. Asking rent for Class A offices increased to $68.98 per square foot in the fourth quarter from $68 per square foot in the third quarter. View the full report here.
2014 Brooklyn retail: CPEX
Brooklyn’s retail corridors doubled in 2014, with the borough adding 27 for a total of 121, according to a year-end report from CPEX. It represented an 80 percent increase in the number of retail corridors in 2013. View the full report here.
2014 New developments: Halstead Property Development Marketing
Manhattan’s most active new developments were Downtown, with over 1,1560 contracts entered or closed in 2014, according to Halstead’s first year-end report which tracks new condo developments. View the full report here.
2014 NYC Construction: New York Building Congress
New York City construction reached $26.1 billion in 2014, a 31 percent increase form the previous year, according to a report from New York Building Congress. The year’s biggest rise in construction came from residential developments and was the fourth consecutive year that housing starts rose. View the full report here.
4Q 2014 Broker confidence index: REBNY
Broker confidence is at a record high, increasing to 9.22 in the fourth quarter of 2014, according to the Real Estate Board of New York’s Real Estate Broker Confidence Index. View the full report here.