Are buyers flinching just as new developments hit the market?​

Opening sales for 2,100 luxe condos in 40 new buildings slated for fall

TRD New York /
Oct.October 26, 2015 08:12 AM

With the fall selling season upon them, developers are breaking out the bubbly, hosting swanky parties to spread the word about dozens of new projects.

But will enough buyers be interested?

At Toll Brothers City Living’s 1110 Park Avenue, Zeckendorf’s 520 Park Avenue, and the condo conversions at the Chatsworth and at Ben Shaoul’s 100 Barclay Street, and many others, developers are laying out their wares, hoping to excite brokers, and in turn, buyers.

In Manhattan, 40 new condo developments are coming online this fall with 2,100 units in total, Douglas Elliman Development Marketing told the Wall Street Journal. Brooklyn will see five buildings come on line, with 370 apartments. Three buildings with 181 units will open in Queens.

But even as inventory pours in, buyers show signs of hesitation. Many are showing “classic buyer resistance to high prices,” said Donna Olshan, a broker and author of the Olshan Luxury Market Report. [WSJ]Ariel Stulberg


Related Articles

arrow_forward_ios
Terra Holdings owner and co-chairman Kent Swig

Kent Swig on 10 years of recovering from the Great Recession

Kent Swig on 10 years of recovering from the Great Recession
Kelly Kennedy Mack (Photos by Michael McWeeney)

Kelly Mack on the new development boom of the 2010s

Kelly Mack on the new development boom of the 2010s
Juggling act: Brokers face higher expectations as new dev market sputters

Juggling act: Brokers face higher expectations as new dev market sputters

Juggling act: Brokers face higher expectations as new dev market sputters
Euro Properties sells stake in stalled 59th Street condo project

Euro Properties sells stake in stalled 59th Street condo project

Euro Properties sells stake in stalled 59th Street condo project
Extell’s former top marketing exec launches own firm

Extell’s former top marketing exec launches own firm

Extell’s former top marketing exec launches own firm
Inside a new dev contract: What Halstead was paid at the Oosten

Inside a new dev contract: What Halstead was paid at the Oosten

Inside a new dev contract: What Halstead was paid at the Oosten
Brokers specializing in new condos are doing more, but getting paid less

Brokers specializing in new condos are doing more, but getting paid less

Brokers specializing in new condos are doing more, but getting paid less
Advertisers are spending more on social media influencers, but will they sell real estate?

Advertisers are spending more on social media influencers, but will they sell real estate?

Advertisers are spending more on social media influencers, but will they sell real estate?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...