The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
Apr.April 27, 2016 03:40 PM

Brooklyn’s median single-family home prices hit a record high of $594,000, according to a first-quarter report from PropertyShark. In Manhattan, most retail submarkets saw rent increases in the first three months of the year. Check out more from the residential and commercial recaps in our roundup of the week’s real estate market reports.

Residential

Q1 2016 Long Island residential sales: Douglas Elliman

Long Island saw the most first quarter sales in 13 years, with 5,478 closed sales. Volume was up 28.4 percent year-over-year and while inventory fell 7 percent. Read the full report here.

The impact of property flipping on homeowners and renters in small buildings: Center for NYC Neighborhoods

East New York and Jamaica had more house flips than any other neighborhood in 2015. House flippers across the city earned a median profit of $215,000 or 75 percent gross return. Read the full report here.

Q1 2016 Brooklyn home prices: PropertyShark

Brooklyn’s median home price hit a record high of $594,000, an 11 percent increase year-over-year. Transaction volume continues to fall below peak levels in 2013, but was up 5 percent over the first quarter of 2015. Read the full report here.

Manhattan luxury contracts April 11-17: Olshan Realty

The Manhattan luxury market made a comeback in the second full week of April, with 28 contracts signed, and tied for the most contracts signed year-to-date. Read the full report here.

Commercial

Q1 2016 Manhattan commercial market overview: Avison Young

Overall office rents and vacancy levels are down year-over-year and the investment sales market slowed after a record breaking year in 2015. Read the full report here.

Q1 2016 Manhattan retail leasing: Cushman & Wakefield

Asking retail rents are up year-over-year in 11 retail submarkets, while six areas saw a decrease in rents. Soho, where rent averages $556 per square foot, saw the highest year-over-year increase in asking rent. Read the full report here.

Q1 2016 Manhattan office leasing and new development: MHP Real Estate Services

Midtown’s vacancy rate stood at 7.8 percent in the first quarter and 9.7 million square feet of new office space is in the pipeline for the submarket and Midtown South. Read the full report here.

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


Related Articles

arrow_forward_ios
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
315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock)
Chetrit to open flex-office location near Penn Station
Chetrit to open flex-office location near Penn Station
arrow_forward_ios

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

Loading...