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New York

This week in real estate market reports

A weekly feature bringing you the industry’s latest intel

(Credit: LIC Partnership, click to enlarge)
(Credit: LIC Partnership, click to enlarge)

According to the most recent market reports, New York City apartment rents stayed flat between December and January, Manhattan’s luxury market had a solid start to 2017 for sales volume, and investors have an estimated $1.7 trillion to spend on real estate globally.

Residential

Long Island City snapshot | LIC Partnership
Long Island City this year saw $2.1 billion in invest sales over the past 12 months, and 9,000 new units are expected to come online in 2017. Read the full report here.

New York sales and rentals | Zillow
Rent in the New York stayed flat in January relative to December, and declined .06 percent year over year. The biggest year-over-year changes 10.1 percent increase in East Flatbush and 6.6 percent decrease in Astoria. Read the full sales and rental reports here.

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Manhattan luxury report | Stribling
A robust early 2017 is bolstering confidence in Manhattan’s luxury residential market. Read the full report here.

Manhattan luxury sales | Olshan Realty
Thirty contracts were signed above $4 million this week for a total of $201 million. Read the full report here.

Commercial

Office rent survey | CBRE
Hong Kong is the most expensive city to lease office space in the world. New York comes in at No. 6. Read the full report here.

Investor intention survey | CBRE
Investors have $1.7 trillion to spend on real estate in 2017, with North America coming in as the preferred region, and New York slipping to third place within the United States. Read the full report here.

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