Brooklyn saw average asking office rents dip during the first quarter while Manhattan’s office rents were up for the 12th consecutive month, according to the latest reports from Colliers International. On the residential end, Soho topped PropertyShark’s list as the priciest neighborhood and Manhattan rental prices were unchanged last month, according to MNS. Check out more from the commercial and residential recaps in our roundup of the week’s real estate market report.
Q1 2016 Most expensive NYC neighborhoods: PropertyShark
Soho was the priciest neighborhood in New York City during the first three months of the year. The area had 39 home sales in the first quarter with a median sales price of $5.9 million. Read the full report here.
Manhattan luxury contracts April 4-10: Olshan Realty
Manhattan’s luxury market took a hit during the first full week of April. Eighteen contracts were signed for homes priced $4 million and above, the lowest for that period since 2012. Read the full report here.
Q1 2016 Brooklyn residential sales: Brown Harris Stevens
Median apartment prices in Brooklyn hit $573,000, a 10 percent increase over the first quarter of 2015, while the average price is up 5 percent from last year. Read the full report here.
Q1 2016 Manhattan office leasing: Colliers International
Manhattan’s average asking rent rose for the 12th consecutive month, with prices reaching $72.46 at the end of the first quarter. Leasing activity totaled 9.2 million square feet and is up 11 percent over the same period last year. Read the full report here.
Q1 2016 Brooklyn office leasing: Colliers International
Average rent across Brooklyn was down to $38.06 per square foot, a 1.9 percent decline from the final quarter of 2015. Availability was up quarter-over-quarter to 23.6 percent. Read the full report here.
March 2015 Manhattan residential rentals: MNS
The Manhattan rental market saw no major change in rent prices during March, although rent is down 2.9 percent over the same period last year. Inventory totaled 9,317 units for the month, an 8.2 percent increase from February. Read the full report here.
February 2016 multifamily sales: Ariel Property Advisors
After a strong start to the year, multifamily sales throughout New York City slowed during February. Dollar volume slipped from the $1 billion threshold to $863 million, and building volume was down to73 for the month. Read the full report here.