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
Federal Reserve Chairman Jerome Powell (Getty)

Real estate stocks benefit from second quarter rally

Real estate stocks benefit from second quarter rally
Seth Campbell (iStock)

Keller Williams to cut ties with top franchise owner following sexual harassment allegations

Keller Williams to cut ties with top franchise owner following sexual harassment allegations
Ghost Towers

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?
The Seagram Building at 375 Park Avenue with a photo illustration of RFR's Aby Rosen (Getty, Google, iStock)

Aby Rosen to build sprawling gym in Seagram Building

Aby Rosen to build sprawling gym in Seagram Building
Manhattan homes flooded the market last week but buyers are nowhere to be found 

Manhattan homes for sale nearly doubled last week

Manhattan homes for sale nearly doubled last week
Competition for affordable housing in New York City is highest among those who need affordable housing most (Getty, iStock)

Poorest face worst odds in city’s housing lotteries

Poorest face worst odds in city’s housing lotteries
511 Macon Street and 70 Washington Street in Brooklyn (Courtesy Compass; Streeteasy)

Brooklyn’s luxury market slumped as in-person showings began

Brooklyn’s luxury market slumped as in-person showings began
Square Mile Capital’s Craig Solomon and Hackman Capital Partner's Michael Hackman with Silvercup Studios at 42-22 22nd Street in Long Island City (Hackman; AAK via Wikipedia Commons)

Hackman, Square Mile in talks to buy Silvercup Studios

Hackman, Square Mile in talks to buy Silvercup Studios
arrow_forward_ios

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

Loading...