The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
Sep.September 16, 2015 03:57 PM

The latest batch of reports found that Manhattan office rents reached a seven-year peak and residential inventory in Queens jumped in August.

Residential

August 2015 Manhattan rental: MNS

Average rents in Manhattan were up 0.3 percent from July to $3,975 in August. Listing inventory fell 2.9 percent to 8,411 units.  Read the full report here.

August 2015 Brooklyn rental: MNS

Bushwick saw a 16 percent drop in average rents during August as the number of units in the neighborhood quadrupled in the past year. Read the full report here.

August 2015: Queens rental: MNS

Inventory across Queens jumped 16 percent in August from July, and rents averaged $2,148.77 for the month. Read the full report here.

Manhattan luxury contracts Aug. 31- Sept. 6: Olshan Realty 

September was off to a slow start, with only 16 contract signed for Manhattan apartments priced $4 million and above, compared to 22 contacts signed in the prior week. The week’s priciest home was a townhouse at 24 West 11th Street, which had an asking price of $20 million. Read the full report here.

Office

September 2015 Manhattan office overview: CBRE

Midtown office values are at an all-time high and up 11 percent from a 2007 peak levels. Although there was no change from August, values rose 12 percent year-over-year. Read the full story here.

August 2015 Manhattan leasing: Newmark Grubb Knight Frank

Asking rents reached a seven-year peak of $69.35 per square foot in August, and 2.4 million square feet of space was leased during the month. Read the full report here.


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