NYC will get 5M sf of new office space by year’s end

A weekly feature bringing you the industry’s latest intel

New York /
Sep.September 21, 2017 07:00 AM

According to this week’s market reports, 5.2 million square feet of office space are scheduled for completion in the last remaining months of 2017 in Brooklyn and Manhattan, and 5.6 percent of home sales nationwide were flips.

Residential

Townhouse sales | Leslie J. Garfield & Co.
In the first two weeks in September, six townhouses went into contract in Brooklyn and Manhattan, 27 townhouses entered the market, and 26 dropped their ask. Read the full report here.

Luxury sales | Olshan Realty
Twenty-three residential contracts were signed last week at $4 million and above, the first week in almost three months for luxury sales volume to edge above 20. The total asking dollar volume was $197 million. Read the full report here.

Flipping report | ATTOM Data
The home flipping rate of 5.6 percent in the second quarter of 2017 was down from 6.9 percent in the previous quarter but unchanged from a year ago. The average return on investment was 48 percent, down 1 percent from the previous quarter. Read the full report here.

Commercial

Office update | JLL
Overall asking rents in Midtown South closed the month of August at $74.22 per square foot, relatively unchanged from the previous month. Class A asking rents saw a slight month-over-month increase from $81.66 per square foot in July to $82.19. Read the full report here.

Office deliveries | CommercialCafe
Manhattan and Brooklyn together will see 5.1 million square feet of office space delivered through the fall and winter of 2017, across 15 projects. The two biggest project are the Brooklyn Navy Yard’s Building 77 and One Soho Square, at 940,000 and 740,000 square feet respectively. Read the full report here.


Related Articles

arrow_forward_ios
Security around Trump Tower to be reduced after 45th POTUS leaves office. (Getty, The Trump Organization)

Fifth Avenue will look different after Trump leaves office

Fifth Avenue will look different after Trump leaves office
(Getty, iStock)

Booster shot: NYC real estate sees salvation in vaccine

Booster shot: NYC real estate sees salvation in vaccine
Joan Collins and 110 East 57th Street #8EFG (Getty, BHS)

Soap star Joan Collins lists longtime Midtown pied-à-terre

Soap star Joan Collins lists longtime Midtown pied-à-terre
Tommy Hilfiger and his recently sold estate in Greenwich, CT. (Getty, Janet Milligan)

Tommy Hilfiger’s Greenwich estate sells for $45M

Tommy Hilfiger’s Greenwich estate sells for $45M
Before the pandemic, national tenants paid 94 percent of rent. (Getty)

Retail rent collections rebound to 90%

Retail rent collections rebound to 90%
Jenna Ryan was part of a group who flew on a private plane from Denton, TX, to Washington, D.C., with the intention of joining the protestors (Twitter.com/DotJenna)

Texas Realtor faces criminal charges for role in Capitol attack

Texas Realtor faces criminal charges for role in Capitol attack
Cindat Capital Management CEO Greg Peng and Hersha Hospitality Trust CEO Jay Shah with 51 Nassau Street (Google Maps)

7 Manhattan hotels head to auction block

7 Manhattan hotels head to auction block
Porch CEO Matt Ehrlichman (iStock)

Porch snaps up four startups for over $122M

Porch snaps up four startups for over $122M
arrow_forward_ios

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

Loading...