According to the latest batch of market reports, office asking rents were up in August, developers are delivering more than 3 million square feet of new retail space across New York City in 2016, and residential sale prices continued to rise in the final full month of summer.
September 2016 NYC residential sales: CityRealty
The average price for a condo and co-op reached $2.2 million in August. The top three priciest sales for the month were in 432 Park Avenue. Read the full report here.
June 2016 U.S. home prices: Case-Schiller Index
U.S. home prices in June were up 5.1 percent year-over-year, but New York City saw one of the smallest price changes out of 20 major cities. Read the full report here.
Q3 2016 NYC retail leasing and sales: Marcus & Millichap
Developers are bringing more than 3.1 million square feet of new retail space to New York City this year, including nearly 1 million square feet outside of Brooklyn and Manhattan. Average asking rents climbed to $57.25 per square feet, up 7 percent over the last four quarters. Read the full report here.
August 2016 Manhattan office leasing: Newmark Grubb Knight Frank
Manhattan leasing activity totaled over 3.2 million square feet in August. Downtown saw the biggest year-over-year rent increase while Midtown nabbed seven of the 10 largest leasing deals. Read the full report here.
NYC office market and job growth: Savills Studley
Job growth in office settings reached its slowest point this year since 2010 and there could be less of a demand for office space despite an influx of supply. Read the full report here. Read the full report here.