Resale prices decline for condos, rise for co-ops and townhouses

A weekly feature bringing you the industry’s latest intel

TRD New York /
Oct.October 19, 2017 03:00 PM

According to this week’s market reports, condominium resales are entering the market at 6.4 percent less than last year, and federal aid to high-income families is more than double what low-income families get.

Residential

Condo sales | PropertyShark
Of the 10 top-selling condo buildings in New York in the third quarter, four were in Queens, including the Grand at Sky View Parc in Flushing, which topped the list. There were 92 units sold at a median sale price of $799,569. Read the full report here.

Residential resales | Berkshire Hathaway
Resale inventory for condos took a different direction than co-ops and townhouses in the third quarter. For condos, the number of new listings increased 1.8 percent while the median listing price dropped 6.4 percent. For co-ops and townhouses, inventory dropped while the median listing price increased 6 and 41 percent respectively. Read the full report here.

Townhouse sales | Leslie J. Garfield
In the first two weeks in October, nine townhouses went into contract in Brooklyn and Manhattan and two closed. Seventeen townhouses entered the market, and 16 dropped their ask. Read the full report here.

Luxury sales | Olshan Realty
Twenty-one residential contracts were signed last week at $4 million and above, two with connections to the entertainment industry. Sting’s apartment at 15 Central Park West, which was asking $56 million, went into contract, as did Bob Weinstein’s Upper East Side townhouse asking $18 million. Read the full report here.

Federal aid | ApartmentList
Nationally, over 85 percent of federal housing aid goes to high-income families through the mortgage interest deduction program. In New York, federal aid to low, middle and high-income families averaged $768, $339, and $2,016 in 2015. Read the full report here.

Commercial

Brooklyn retail | REBNY
Asking rents rose in 10 of Brooklyn’s Main Shopping Sectors And Smith Street in Cobble Hill saw asking rents rise to $149 per square foot, up 12 percent from a year ago. Read the full report here.

Office development | CommercialCafe
Over the last decade, New York added 38.2 million square feet of office space across 106 buildings. Houston came in a close second at 38.1 million square feet. Read the full report here.


Related Articles

arrow_forward_ios
Zillow President Jeremy Wacksman

Zillow launches its high-stakes home-flipping business in LA

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

arrow_forward_ios