The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
Apr.April 13, 2016 03:35 PM

The demand for luxury homes is higher than ever, according to a first-quarter analysis from PropertyShark. Manhattan condo and co-op prices keep rising, and overall office asking rents rose in the first three months of the year. Check out more from the monthly and quarterly recaps in our roundup of the week’s real estate market report.

Residential

April 2016 residential sales: CityRealty

Average condo and co-op sales rose from $2.1 million in January to $2.3 million in February. Meanwhile, the number of recorded sales slipped from 894 in the first month of the year to to 818. Read the full report here.

Q1 2016 NYC luxury home sales: PropertyShark

The median price for luxury homes is up 12 percent year-over-year. Manhattan’s median price in the first quarter reached $7.2 million and Brooklyn’s broke the $4 million threshold. Read the full report here.

Manhattan luxury contracts March 28-April 3: Olshan Realty

The number of contracts signed for luxury homes above $10 million was down in the first quarter of the year, compared to the same period last year. No week in the first quarter had more than 30 contracts signed. Read the full report here.

Commercial

Q1 2016 Manhattan office leasing: Cushman & Wakefield

New leasing activity totaled 6.6 million square feet since January, down from the same period last year, but above the historical average of 6.2 million square feet. Overall asking rents for up to $72.40. Read the full report here.

Q1 2016 Manhattan office market overview: ABS Partners Real Estate

A slowdown in leasing activity could lead to a spike in vacancy in Midtown. Read the full report here.

NYC schools construction starts 2015: New York Building Congress

New construction for New York City schools reached $3 billion in 2015, an 83 percent jump from 2014. Ground-up construction totaled $1.3 billion, while alterations and renovations accounted for $1.6 billion of all construction costs last year. Read the full report here.

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


Related Articles

arrow_forward_ios
Manhattan office leasing breaks 3M sf barrier for first time since early 2020
Manhattan office leasing breaks 3M sf barrier for first time since early 2020
Manhattan office leasing breaks 3M sf barrier for first time since early 2020
5 East 59th Street (Google Maps, 5e59.com)
Singapore bank sues to foreclose on ex-Playboy Club building
Singapore bank sues to foreclose on ex-Playboy Club building
Boston Properties’ Owen Thomas, Vornado Realty Trust’s Steve Roth, Paramount Group’s Albert Behler, SL Green’s Marc Holliday and Empire Real Estate Trust’s Tony Malkin  (iStock, slgreen.com, vno.com, paramount-group.com, esrtreit.com, LinkedIn)
Office landlords profess optimism despite dip in occupancy
Office landlords profess optimism despite dip in occupancy
George Comfort & Sons’ Peter Duncan (right), Philip Morris International CEO Jacek Olczak and 677 Washington Boulevard in Connecticut (George Comfort & Sons, Philip Morris, Google Maps)
George Comfort & Sons signs Philip Morris as Stamford tenant
George Comfort & Sons signs Philip Morris as Stamford tenant
Manhattan office market records busiest month since start of pandemic
Manhattan office market records busiest month since start of pandemic
Manhattan office market records busiest month since start of pandemic
With offices in flux, Empire State Realty Trust is pivoting to apartments
With offices in flux, Empire State Realty Trust is pivoting to apartments
With offices in flux, Empire State Realty Trust is pivoting to apartments
Though a majority of business leaders think hybrid work is here to stay, only 40% have taken steps to establish a plan for the arrangement’s future, (iStock)
Landlords beware: Office tenants procrastinating on hybrid planning
Landlords beware: Office tenants procrastinating on hybrid planning
How NYC’s top real estate law firms got creative in an unusual year
How NYC’s top real estate law firms got creative in an unusual year
How NYC’s top real estate law firms got creative in an unusual year
arrow_forward_ios

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

Loading...