The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

TRD NEW YORK /
Apr.April 06, 2016 03:45 PM

The latest batch of first-quarter residential market reports shows Manhattan residential sales surpassed the $2 million mark for the first time and the number of contracts signed is slowing down. According to the office reports, renewals made up the majority of office leases, and asking rents for all types were up in the first quarter. Check out more in our roundup of the week’s real estate market reports.

Residential

Q1 2016 New developments: Halstead Property Development Marketing

Fewer new developments are priced above $5 million compared to the final quarter of 2015, while the number of apartments priced less than $5 million is growing. Read the full report here.

Q1 2016 FiDi rentals and sales: Platinum Properties

The average price for apartments in the Financial District reached nearly $1.3 million. On the rental side, prices dropped an average of 34 percent from last quarter to $3,873. Read the full report here.

Q1 2016 Manhattan residential sales: Bond New York

Inventory continues to rise as the number of contracts signed is slowing down. Most Manhattan neighborhoods saw a decline in contracts signed during the first quarter. Read the full report here.

Q1 2016 Manhattan residential sales: Douglas Elliman

The average price for Manhattan apartments crossed $2 million for the first time. Read the full report here.

Q1 2016 Manhattan residential sales: Brown Harris Stevens

The average price for all apartments reached $2.1 million in the first quarter, up 13 percent over the past year. The median resale price for apartments hit a record high of $965,000. Read the full report here.

Commercial

Q1 2016 Manhattan office leasing: Newmark Grubb Knight Frank

Leasing activity totaled 9.2 million square feet since January, a drop from 9.9 million square feet leased in the last quarter, but on par with the 10-year historic average. Renewals and expansions accounted for the majority of the 10 biggest leasing deals of the quarter. Read the full report here.

Q1 2016 Manhattan office leasing: Avison Young

Close to 7.4 million square feet of office space was leased in the first three months of 2016, up from 6.6 million square feet in the fourth quarter. The average asking rent for all types rose to $75.59 per square foot. Read the full report here.

Q1 2016 Manhattan office leasing: JLL

Landlords are reducing rents as vacancy rises. Asking rents for Class A space was up 1 percent to $81.09 per square foot in the first quarter, despite a rent decreases in February. Read the full report here.

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


Related Articles

arrow_forward_ios
135 West 50th Street and Industrious co-founders Justin Stewart and Jamie Hodari

Industrious reaches deal for 60K square feet in Midtown

JPMorgan's Jamie Dimon and 125 West 55th Street (Credit: Getty Images, Google Maps)

JPMorgan looks to sell Plaza District office building for $550M

260 Madison Avenue and Sapir Organization’s Alexi Sapir (Credit: Getty Images)

Sapir Org inks big renewal with law firm at 260 Madison

437 Madison Avenue, 50 Hudson Yards, and 1 New York Plaza (Credit: 437 Madison, Hudson Yards, Wikipedia)

Manhattan office leasing just had its most active year since 2001

Mary Ann Tighe

Mary Ann Tighe on Manhattan’s office boom of the 2010s

From left: 50 Hudson Yards, 341 Ninth Avenue, 30 Hudson Yards (background) with Google's Sundar Pichai, Amazon's Jeff Bezos and Facebook's Mark Zuckerberg (Credit: Google Maps and Getty Images)

Big tech puts Manhattan office leasing within reach of annual record

Manhattan’s 10019 zip code, which covers Midtown, Times Square, Herald Square and Midtown South, saw the most foreclosures in the borough with eight. (Credit: iStock)

Manhattan foreclosures soar 118%, driven by mortgage defaults

FiDi sees a spike in sales, renters “camping out” in outer boroughs and more of the biggest trends in resi right now

FiDi sees a spike in sales, renters “camping out” in outer boroughs and more of the biggest trends in resi right now

arrow_forward_ios
Loading...