Pent-up demand: Manhattan penthouse contracts soar
According to the most recent market reports, residential rents grew 1.1 percent between January 2016 and 2017, new development condominiums in Manhattan are selling at an average price of $5.7 million Manhattan co-ops were popular in January, and the volume of investment sales deal stayed flat in the second half of 2016 relative to the previous year.
Residential
Manhattan sales | CityRealty
Co-ops outsold condos in Manhattan in January, with 446 and 439 sales respectively. The average price of new development condos rose to $5.7 million in January, a 3.6 percent increase from the preceding month. Read the full report here.
Rental report | ApartmentList
Rent prices are up 1.1 percent compared to 2015, with Greenpoint registering the largest jump at 7.4 percent. Read the full report here.
Luxury sales | Olshan
A total of 108 contracts over $4 million were signed in February, a 42 percent increase from 2016. Read the full report here.
Commercial
Mortgage report | Actovia
JPMorgan Chase and Signature Bank topped a list of the top 10 most frequent lenders in 2016. Read the full report here.
Investment sales | REBNY
There were 2,880 investment sale trades in the second half of 2016, a 1 percent decrease from 2015, and a total dollar volume of $26.8 billion. Read the full report here.
