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 | September 02, 2015 03:10PM

The latest batch of reports found that New York City’s office construction hit a record high and construction injuries and death are on the rise.

Residential

July 2015 Manhattan and Brooklyn residential sales: Streeteasy

Median resale prices in Manhattan reached a record high of $983,207 in July, a 6.3 percent increase compared to the same time last year. In Brooklyn, prices jumped 5.3 percent year-over-year to $524,171. Read the full report here.

Manhattan luxury contracts August 17-23: Olshan Realty

Twenty-one contracts were signed during the third week of August for Manhattan apartments priced $4 million and above, including a penthouse at 140 West 12th Street, which had an asking price of $20.7 million. Asking prices for the week totaled $187.6 million and the average asking price was $8.9 million. Read the full report here.

Office

NYC office construction: New York Building Congress

Office construction in New York City reached a 25-year high in 2015. A total of 9.7 million square feet of new office space will be constructed across 19 buildings in Manhattan by next year. Read the full report here.

Retail

Sixth Avenue Retail Corridor: Savills Studley

Available sublet space along the Sixth Avenue corridor in Manhattan has significantly declined over the past four to six quarters. Read the full report here.

Other

Construction accidents: Mayor’s Management Report

Construction related injuries in New York City were up 34 percent to 283 in June compared to a year ago. Work site fatalities rose from six to 11 during the same period. Read the full story here.