The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
Mar.March 16, 2016 04:20 PM

Residential rents are slowing in Manhattan and apartments are staying longer on the market, according to the latest Douglas Elliman residential rental report. Manhattan office leasing activity steadied last month and developers are spending more on new Brooklyn office projects. Check out more from February’s rental recap and office market snapshots in our roundup of the week’s real estate market reports.

Residential

February 2016 Manhattan, Brooklyn and Queens residential rentals: Douglas Elliman

While rental prices are slowing in Manhattan, Brooklyn and Queens are seeing a bigger uptick in year-over-year rent growth and more inventory hitting the market. Read the full report here.

Manhattan luxury contracts: Feb. 29-Mar.6: Olshan Realty

Sales for Manhattan luxury hopes slipped in the first week of March compared to the prior week and during the same period last year. Buyers signed 20 contracts for apartments and townhouses priced $4 million and above. Read the full report here.

Office

February 2016 Manhattan office leasing: Newmark Grubb Knight Frank

Nearly 3 million square feet was leased in February, and six of the 10 largest office deals in Manhattan involved TAMI tenants. Read the full report here.

February 2016 Manhattan office leasing: Cushman & Wakefield

Manhattan office leasing activity and asking rents rose in February. Since the start of the year, 4.4 million square feet of office space was leased, up 3.2 percent from the prior year. Overall asking rents in the borough reached $72.80 per square foot. Read the full story here.

Brooklyn new development pipeline: GFI Realty Services

Developers pumped more than $1 billion into Brooklyn’s office market in 2015 and 42 new office developments are coming in the next two years. Read the full report here.

Other

New York City construction outlook: New York Building Congress

New construction costs rose to $40.9 billion in 2015, nearly twice the national rate but below the height of the housing boom of 2006 and 2007. Read the full report here.

Fifty years of historic preservation in New York City: NYU Furman Center

More than a quarter of Manhattan properties are designated as historic districts, whereas only 1 percent of properties in the Bronx, Queens or Staten Island are protected under landmarks law. Read the full report here.

To view more market reports, check out the new TRData page.


Related Articles

arrow_forward_ios
An aerial of 341-347 Madison Avenue and Boston Properties CEO Owen D. Thomas (Google Maps, Real Estate Roundtable)
Boston Properties moves forward with teardown of ex-MTA HQ
Boston Properties moves forward with teardown of ex-MTA HQ
General Assembly's CEO Lisa Lewin (General Assembly)
General Assembly renews 40K sf lease in Flatiron District
General Assembly renews 40K sf lease in Flatiron District
Brooklyn saw increases in prices, sales and inventory. (Getty, Two Trees)
Brooklyn’s median sales price hit record high in Q1
Brooklyn’s median sales price hit record high in Q1
About 17.3 percent of Manhattan office space is available for lease, the most in decades. (iStock)
Manhattan office market’s 25% drop is ominous sign for landlords
Manhattan office market’s 25% drop is ominous sign for landlords
Douglas Durst with 1133 Avenue of the Americas (left) and 114 West 47th Street (Google Maps, Getty)
Durst refinances two Midtown buildings with $1.1B CMBS loan
Durst refinances two Midtown buildings with $1.1B CMBS loan
Rudin Management CEO Bill Rudin and 3 Times Square (Getty, FXCollaborative)
Rudin taps Cushman to market 3 Times Square, plans makeover
Rudin taps Cushman to market 3 Times Square, plans makeover
From left: Vornado Realty Trust’s 11 Penn Plaza and Apple’s Tim Cook, The Farley Post Office building and Facebook’s Mark Zuckerberg, Durst Organization’s One Five One and ByteDance CEO Zhang Yiming (Getty, VNO, SOM, Durst)
Big Tech firms led office leasing in 2020
Big Tech firms led office leasing in 2020
345 Park Avenue and 787 Eleventh Avenue (Photos via Google Maps and Rafael Viñoly)
Manhattan office availability hits all-time high in Q1
Manhattan office availability hits all-time high in Q1
arrow_forward_ios

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

Loading...