The Real Deal New York

This week in real estate market reports

A weekly feature bringing you the industry’s latest intel

Credit: Halstead Property

According to the most recent market reports, inventory for Manhattan’s condominium and co-op market is at its highest since since 2010, and Downtown Brooklyn retail edged out Williamsburg for highest price per square foot.

Residential

Manhattan sales | CityRealty
The average price for a residential condo in Manhattan fell 6 percent to $3.4 million in March relative to the previous month, while the average price for new developments condos fell 5 percent to $5.4 million. Read the full report here.

Manhattan sales | Bond New York
The average price for a residential condo in Manhattan increased 4 percent to $3 million in the first quarter of 2017, relative to 2016, while the median prices fell 10 percent to $1.7 million in the same period. Active listings are up across all metrics. Read the full report here.

New development sales | Halstead
More than a third of new development closings were south of 14th Street in the first quarter of 2017, and half were below 34th Street. Read the full report here.

FiDi Report | Platinum Properties
The average sales price for residential units in the Financial District was down 12 percent to $1.1 million in the first quarter of 2017, relative to 2016, but median price was up 13 percent, indicating that more units were bought at lower price points. Read the full report here.

Manhattan sales | Stribling
There were 6,483 condo and co-op units on the market in the first quarter of 2017, the highest since 2010. Of these, 39 percent were priced between $1 million and $3 million and 32 percent were priced above $3 million. Read the full report here.

Luxury Sales | Olshan Realty
A total of 23 contracts over $4 million signed last week, nine of which were above $10 million, with a median asking price of $7.4 million. Read the full report here.

Rental price monitor | ApartmentList
West Village rents grew the most year-over-year, jumping 3.1 percent to $4,990, while Murray Hill rents dropped 2.4 percent to $4,950. Read the full report here.

Commercial

Brooklyn retail | REBNY
Fulton Avenue replaced Bedford Avenue as the most valuable strip of retail in Brooklyn. Asking price per square foot in Downtown Brooklyn reached $365, surpassing the $361 per square foot in Williamsburg, which dipped from a peak of $373 last summer. Read the full report here.