The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

TRD New York /
May.May 18, 2016 06:18 PM

In the latest batch of New York City real estate market reports, rental prices are down in Manhattan for the first time in two years and overall broker confidence is down. On the commercial end, Lower Manhattan saw a slowdown in office leasing in the first three months of the year. Check out more in our roundup of the week’s market reports.


April 2016 Manhattan rentals: Douglas Elliman

Manhattan’s median rental price declined in April for the first time in two years. Median rent in April fell 1.4 percent year-over-year to $3,415 per month. Read the full report here.

Manhattan luxury contracts May 2-8: Olshan Realty

Twenty-eight contracts were signed for Manhattan homes priced $4 million and above, including a condo at 443 Greenwich Street with an asking price of $54 million. The average asking price for the week was $8.5 million. Read the full report here.


Q1 2016 Broker Confidence: REBNY

Broker confidence slipped again in the first quarter of the year. For the fifth consecutive quarter, confidence for both residential and commercial brokers was down. Read the full report here.

Manhattan commercial vacancies: New York City Comptroller

The vacancy rate for Manhattan commercial properties was down to 9 percent in the first three months of 2016. New commercial leases also declined, falling 6 percent to 6.5 million square feet. Read the full report here.

Mid-Q2 2016 Manhattan retail leasing and sales: ABS Partners Real Estate

Midtown’s new Turnstyle market brought 27,000 square feet of new retail space to the area. The opening of the Met Breuer on the Upper East Side is expected to revitalize retail activity nearby. And Tammany Hall will deliver 50,000 square feet of retail to Midtown South. Read the full report here.

Q1 2016 Lower Manhattan overview: Alliance for Downtown New York

Lower Manhattan’s office market was off to a slow start with just 1 million square feet leased in the first quarter. The retail market saw a 3 percent year-over-year increase in new retail, including the addition of Birch Coffee and fitness studio Physique 57. Read the full report here.

Bushwick neighborhood report: Ariel Property Advisors

Most of Bushwick’s housing is still dominated by rental apartments. The neighborhood has an 89 percent rental occupancy and the remainder is occupied by the owner. More than half of Bushwick’s residential buildings hold between five and nine units. Read the full report here.

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

Related Articles

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

Albert Laboz of United American Land with 430 West Broadway and 419 Broadway (Credit: Getty Images and rendering via YIMBY)

Laboz family plans 2 office developments
in Soho

From left: 1271 Sixth Avenue, 30 Hudson Yards, and 55 Water Street (Credit: Wikipedia)

Manhattan leasing activity up year-over-year while asking rents hit record high

(Credit: iStock)

Office rents in U.S. are going up — barely