For all the uncertainty in the market, The Real Deal’s latest ranking of new-development firms, in many ways, reflects our previous rankings — though this time around we’ve included projects in Brooklyn and Queens, where new condos have sprouted like weeds in the last five years.
The top firms on the ranking closed a combined $20.62 billion in new development condos in the last three years.
Once again, when analyzing closed sales, the Corcoran Group came out on top.
The firm — which has long been the most dominating force on New York’s new-development brokerage scene — closed $9.13 billion in new-condo deals during the three-year stretch between June 1, 2014 and May 30, 2017. Those deals were sealed at megaprojects including the 145-unit 56 Leonard, where a penthouse recently sold for $48 million, and the 123-unit Halcyon.
Brown Harris Stevens ($558.7 million), Sotheby’s International Realty ($443 million, Compass ($417.6 million), Town Residential ($388.5 million) and Modern Spaces ($251.1 million) rounded out the top 10 list.
There is a clear divide between the haves and have-nots: Corcoran and Elliman accounted for a staggering 73 percent of the top 10’s combined sales over the period.