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New York

This week in real estate market reports

A weekly feature bringing you the industry’s latest intel

Credit: CityRealty
Credit: CityRealty

According to the most recent market reports, residential rents are down in Manhattan and Brooklyn are down by 1 and 4.2 percent year-over-year, and commercial values increased during President Trump’s first 100 days.

Residential

Rental report | StreetEasy
Rents in Manhattan declined 1 percent in the first quarter of 2017 year-over-year, while they increased 3.2 percent in Upper Manhattan. In Brooklyn, rent prices dropped 4.2 percent year-over-year, and inventory increased 27.6 percent. Read the full report here.

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Manhattan residential sales | CityRealty
In April there was $1.9 billion in gross sales for condos and co-ops in Manhattan, with 817 units selling at an average of $3.6 million per condo and $1.2 million per co-op. Read the full report here.

Luxury Sales | Olshan Realty
The total asking dollar volume for the 27 luxury contracts signed last week was $177 million. Of the contracts, only two were above $10 million. Read the full report here.

Commercial

Trump’s first 100 Days | Cushman & Wakefield
Since the beginning of the Trump administration, the S&P is up 10 percent, and since the election CRE values have increased 2.4 percent and capital targeting CRE in the US have increased 9.8 percent to $144 billion, but many unknowns, especially on the policy front, remain. Read the full report here.