The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
Jul.July 22, 2015 03:25 PM

The latest batch from around the industry found that New York City home foreclosures are up year-over-year and Manhattan office vacancy rates shrunk in July.

Residential

Midyear 2015 foreclosures: RealtyTrac

Foreclosure activity in New York City was up year-over-year despite an average nationwide decline of 4 percent. Foreclosure starts in NYC was up 24 percent compared to a year ago. Read the full report here.

Manhattan luxury contracts July 6-12: Olshan Realty

Twenty-two contracts were signed in the first full week of July for Manhattan apartments priced $4 million and above. Asking prices for the week totaled $156.4 million and the average asking price was $7.1 million. Read the full report here.

Commercial

May 2015 multifamily sales: Ariel Property Advisors

New York City multifamily sales totaled $1.1 billion in May and had year-over-year gains for the third consecutive month. Building volume rates fell 8 percent from the prior month to 106 properties, but dollar volume was up 40 percent from May and 62 percent year-over-year. Read the full report here.

Office

July 2015 Manhattan office leasing: ABS Partners

Vacancy rates were down in Manhattan’s office market during the second quarter while rents rose. Read the full report here.

Q2 2015 Manhattan office leasing: CBRE

Manhattan’s office leasing activity is up 5.5 percent year-over-year to 0.71 million square feet in the second quarter. Leasing activity totaled 15.08 million square feet year-to-date. Read the full report here.


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