More than 6,000 new apartments delivered in Brooklyn in the last 12 months

A weekly feature bringing you the industry’s latest intel

TRD New York /
Sep.September 28, 2017 02:30 PM

According to this week’s market reports, the rise in median renter income in New York City outpaced rise in median rent for the second consecutive year, and developers delivered over 10,000 new housing units across Brooklyn and Manhattan in the last year.

Residential

Luxury sales | Olshan Realty
Just 11 residential contracts were signed last week at $4 million and above, and the total asking dollar volume was $61 million, the lowest number this year. Read the full report here.

Rental report | ApartentList
New York rents remained flat between September and October, and median rent stands at $2,090 for a one-bedroom apartment and $2,490 for a two-bedroom pad. Read the full report here.

Median rent | Core.NYC
Median income for renters rose faster than median rent between 2015 and 2016, at 4.26 percent and 1.5 percent respectively. However, in the decade between 2006 and 2016, median rent growth outpaced median income growth by 7 percent. Read the full report here.

Natural Hazard Index | ATTOM Data Solutions
Home prices rose faster in the the top 20 cities with the highest natural risk hazard, than in less risky areas, by 65 percent over the last five years compared with 48 for the next 20 percent and only 9 percent for the least risky tranche. Read the full report here.

Commercial

Mutifamily report | Marcus & Millichap
In Brooklyn, 6,033 new apartments were delivered in the 12 months ending in September, compared with 3,622 in the previous 12 month period. In Manhattan, the number increased as well, though less drastically, from 4,318 to 5,852. Read the full report here.

Investment sales | Avison Young
Overall investment sales volume in Manhattan in the first half of 2017 was $10.4 billion, down from $21.4 billion over the same period in 2016. Read the full report here.


Related Articles

arrow_forward_ios
Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

From left: the Ritz-Carlton, 32 East 1st Street, 560 West 24th Street, 301 East 80th Street and 32 West 85th Street

Five priciest homes new to market include 1897 townhouse

Ed Gilligan and 3 East 94th Street (Credit: Getty Images, Compass)

Don’t leave home without $21M: Amex exec’s widow sells townhouse

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

From left: Jed Wilder, Bess Freedman, Richard Grossman, Josh Sarnell and Adam Mahfouda (Credit: Emily Assiran) 

Agents to StreetEasy: The fee is too damn high

40 East 72nd Street (Credit: Google Maps)

Nightmare on E. 72nd Street raises question: Are small condos risky?

Jed Garfield of Leslie J. Garfield; Richard Grossman, president of Halstead Real Estate; Sarah Saltzberg, principal broker and CEO of Bohemia Realty Group; Douglas Elliman’s Howard Lorber

NYC brokers slam bias, promise action after Newsday exposé

The bombshell probe also found that minorities had to meet more stringent financial qualifications than white buyers. (Credit: iStock)

LI agents routinely discriminate against minority buyers, undercover probe finds

arrow_forward_ios