The week in real estate market reports 

A weekly feature bringing you the industry’s latest intel

TRD New York /
May.May 27, 2015 01:30 PM

The latest batch of reports from around the industry found that New York led the way in retail investment sales in 2014 And The Average Asking Rent Along East 57th Street is up 60 percent from fall of last year.

Retail

Spring 2015 Manhattan retail: REBNY

The average asking rent for Manhattan’s most expensive retail corridor on Fifth Avenue between 49th and 59th streets rose 4 percent from $3,420 in fall 2014 to $3,683 this spring. While most price increases across the borough were subtle, asking rents for ground-floor Retail Space Along East 57th Street between Fifth and Park avenues were up 60 percent from fall 2014. Read the full report here.

Q1 2015 Manhattan retail: CBRE

Eight of Manhattan’s major retail corridors saw moderate rent growth from the previous quarter and five had double-digit increases year-over-year. Third Avenue had the largest quarter-over-quarter price increase, with the average asking price up 11.4 percent to $333 per square foot in the first quarter of 2015. Read the full report here.

2014 Retail investments: Cushman & Wakefield

Manhattan was the leader in retail investments last year, with a total volume of $6.5 billion. Los Angeles came in second with retail investments totaling $6.2 billion in 2014. Overall volume in the first quarter of 2015 was up 5 percent from last year to $24 billion. Read the full story here.

Residential

Manhattan luxury contracts May 11-17: Olshan Realty

Thirty-eight contracts were signed in the second week of May for Manhattan apartments priced $4 million and above. A total of 25 contracts were signed for condos, nine were signed for co-ops and four were signed for townhouses. The week’s priciest contract signed was for a co-op at 895 Park Avenue with an asking price of $18 million. Read the full report here.

Other

April 2015 building permits: U.S. Census Bureau

The number of building permits filed in April reached its highest level since 2007. There were 1,143,000 permits filed nationwide during the month, a 10 percent increase from March and 6.4 percent higher than April 2014. Read the full story here.


Related Articles

arrow_forward_ios
The Martinique hotel (Wikipedia, Google Maps)

Operator of Martinique Hotel in Manhattan files for bankruptcy

Operator of Martinique Hotel in Manhattan files for bankruptcy
CEO Mark Tritton and 410 East 61st Street (Getty, Google Maps)

Bed Bath & Beyond will permanently close UES store

Bed Bath & Beyond will permanently close UES store
A rendering of 556 West 22nd Street (Photo by BASIS Independent Schools)

Private school to expand in former Chelsea Art Museum building

Private school to expand in former Chelsea Art Museum building
With about $23 billion of hotel-related CMBS loans in forbearance, more lenders are looking to offload those mortgages. (iStock)

Hotel industry is in trouble and more lenders want out

Hotel industry is in trouble and more lenders want out
Industry City CEO Andrew Kimball with Amazon CEO Jeff Bezos (Photos via Getty; iStock; Industry City)

Real estate hits bottom as Industry City abandons plan

Real estate hits bottom as Industry City abandons plan
Burlington CEO Michael Sullivan and 2163 Tilden Avenue (Burlington via Facebook; Google Maps)

Burlington Coat Factory inks big lease in Brooklyn

Burlington Coat Factory inks big lease in Brooklyn
Carmel Partners CEO Ron Zeff (JLL)

Carmel Partners sells Norwalk apartment complex valued at $157M

Carmel Partners sells Norwalk apartment complex valued at $157M
From left: 180 West 81st Street in Upper West Side, 15-30 130th Street in College Point; 5002 13th Avenue in Borough Park (Google Maps)

Manhattan sees first September i-sale with UWS mixed-use building

Manhattan sees first September i-sale with UWS mixed-use building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...