The Real Deal New York

The week in real estate market reports

A weekly feature bringing you the industry’s latest intel
By Kyna Doles | July 15, 2015 02:45PM

The latest batch from around the industry found that Brooklyn’s residential market hit record high prices, while Manhattan’s office market improved after a shaky start to the year.

Residential

Q2 2015 NYC residential sales: REBNY

New York City home sales are up and average sales prices increased in the second quarter of 2015 compared to last year. The average sales price for a New York City home was $923,000, a 12 percent jump from the same period last year. Read the full report here.

June 2015 NYC residential rentals: Douglas Elliman

Median rental prices in Brooklyn reached a record high of $2,964 in June and are up 5.9 percent year-over-year. Median rents in Manhattan were up for the 16th consecutive month and hit $3,369, a 2.1 percent increase from June of last year. Read the full report here.

Q2 2015 Brooklyn residential sales: Douglas Elliman

Brooklyn’s average sales price hit a record high of $788,529 in Q2. Read the full report here.

Q2 2015 Queens residential sales: Douglas Elliman

The median and average sales price for Queens condos set records in Q2. Median sales prices reached $468,000 for condos while average sales prices hit $575,339. Read the full report here.

Manhattan luxury contracts June 29-July 5: Olshan Realty

The first week of July for Manhattan apartments saw 23 deals priced at $4 million and above, and the week’s priciest apartment to enter into contract had a hefty asking price of $15 million. Read the full report here.

Office

June 2015 Manhattan office leasing: DTZ

Manhattan’s office market posted positive absorption for the fourth straight month in May with 253,303 square feet absorbed and nearly 1 million square feet since January. Read the full report here.

Q2 2015 Manhattan office leasing: DTZ
The Manhattan office market made improvements in the second quarter of 2015, rebounding from a rocky start to the year. During the second quarter, 708,539 square feet of office space was absorbed. Read the full report here.