Retail rents are up 42 percent in Greenpoint

A weekly feature bringing you the industry’s latest intel

New York /
Jul.July 27, 2017 04:00 PM

According to this week’s market reports, Manhattan saw a total of $10.6 billion in commercial sales volume in the first half of 201​7, and New York added 3.1 jobs per permitted unit between 2010 and 2015.

Residential

Luxury sales | Olshan Realty
Sixteen contracts were signed last week at $4 million and above, with an average 9 percent discount from asking price. The total asking dollar volume was $122 million. Read the full report here.

Housing supply | ApartmentList
The New York metro area added 1.5 new jobs for each new housing unit permitted between 2005 and 2015, and 3.1 jobs per permitted unit post-recession, making the eighth most undersupplied metro area. Read the full report here.

Commercial

Capital Trends​ ​| Real Capital Analytics
Los Angeles overtook Manhattan as the most active commercial market in the first half of 2017, with $12.6 billion in total sales volume to Manhattan’s $10.6 billion. Manhattan also saw the largest year-over-year decline, falling 55 percent, compared with L.A.’s 11 percent. Read the full reports here.

Brooklyn retail | GFI Realty
Residential construction boosts retail in Brooklyn, with the asking price for ground-floor retail up 42 percent in Greenpoint year-over-year, down 18 percent in Williamsburg and flat in Prospect Heights. Read the full report here.

Retail market | CBRE
Average asking rents across Manhattan’s 16 main retail corridors declined by 8.6 percent year-over-year in the second quarter of 2017, leading to a decrease in availability, which fell by 4.2 percent quarter-over-quarter, but remains high relative to one year ago. Read the full report here.

Office market | CBRE
In Manhattan’s office market, relocation continues into Downtown, Midtown South leasing activity fell to 2013 levels, and Midtown leasing was up while pricing remained level. Read the full reports for Midtown, Midtown South, Downtown and Brooklyn.


Related Articles

arrow_forward_ios
(Getty; Illustration by The Real Deal)
Luxury amenities are coming to a home near you
Luxury amenities are coming to a home near you
A photo illustration of Related Companies' Jeff Blau (Getty)
Related proposes 1,500-room resort in Hudson Yards casino bid
Related proposes 1,500-room resort in Hudson Yards casino bid
Jared Kushner and 666 Fifth Avenue (Getty, David Shankbone, CC BY 2.5 - via Wikimedia Commons)
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Arthur Zeckendorf and Gary Barnett with 1289 Lexington and Central Park Tower (Terra holdings, Getty, RODE, Central Park Tower)
The bargain hunters: Buyers target cheaper new development units
The bargain hunters: Buyers target cheaper new development units
Gary Barnett with Central Park Tower (Getty)
Central Park Tower condo sells for $20M off asking
Central Park Tower condo sells for $20M off asking
Doma CEO Max Simkoff (Getty Images, YouTube/Berkeley Haas, Doma)
Title insurer Doma cuts 40% of workforce in third wave of layoffs
Title insurer Doma cuts 40% of workforce in third wave of layoffs
Council member Pierina Ana Sanchez and RSA’s Joseph Strasburg (Getty; Twitter)
Citing Bronx fire, Council pushes building violation crackdown
Citing Bronx fire, Council pushes building violation crackdown
SB Development’s Joseph Stern and Northwind’s Ran Eliasaf with rendering of Nova (LinkedIn, NOVA)
SB Development, Hazelton Capital score $62M loan for LIC condo tower
SB Development, Hazelton Capital score $62M loan for LIC condo tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...