The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
Jun.June 24, 2015 02:25 PM

The latest batch of market reports from around the industry found that foreclosures hit a 19-month high in May and Midtown ranks as the 10th most expensive office market in the world.

Residential

Q2 2015 foreclosures: RealtyTrac

Foreclosures on vacated homes were down 10 percent in the second quarter of 2015 year-over-year. Nearly 20,000 of all vacant home foreclosures were located in New York, New Jersey and Pennsylvania. Read the full report here.

June 2015 global prime office occupancy costs: CBRE

Midtown Manhattan ranked as the world’s 10th most expensive office market, with occupancy costs averaging $127 per square foot. Read the full report here.

May 2015 U.S. foreclosures: RealtyTrac

Foreclosures in the U.S. hit a 19-month high in May and are up 16 percent from the prior month. The foreclosure rate in New York City was up 34 percent year-over-year. Read the full report here.

Manhattan luxury contracts June 8-14: Olshan Realty

Twenty-eight contracts were signed during the second week of June for Manhattan apartments priced $4 million and above. The week had the most co-ops enter into contract so far this year. Read the full report here.

Commerical

April 2105 NYC multifamily sales: Ariel Property Advisors

New York City’s multifamily market saw a total of $783 million in deals in April, a year-over-year increase of just under 30 percent. Read the full report here.

Retail

Q2 2015 Manhattan retail: ABS Partners

Brookfield Place’s reopening in late March brought over 250,000 square feet of retail space to Lower Manhattan. Notable retail leases signed in the second quarter of the year include a nearly 25,000-square-foot new lease for Bloomingdale’s Outlet Store at 2085 Broadway on the Upper West Side and a 15,000-square-foot new lease for Dolce & Gabbana at 155 Mercer Street in Soho. Read the full report here.


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