TRD Insights: This was the only condo plan filed last week

Lone project has a sellout of $6 million

New York /
Apr.April 25, 2020 08:00 AM
577 5th Street (Credit: Google Maps)

577 5th Street (Credit: Google Maps)

Developers have largely halted filings for condo plans throughout the city since the governor extended the pandemic’s non-essential business orders through mid-May.

The five boroughs only had one condo plan filed last week at 577 5th Street in Park Slope. Gil Shenhav and Roy Girtz are to develop the row house into an eight-unit residential building.

NYC Condo Plan Filed Last Week
Condo plan IDAddressBoroughSelloutSubmitted DateResi units
CD200100577 5th StreetBrooklyn$6,000,000.0004/06/20208

SOURCE: TRD analysis of AG records

The condo market isn’t the only scraping the bottom as the pandemic drags on. Last week, the mid-market investment sales market had just one sale — 55-59 Chrystie Street in Chinatown that went through a bankruptcy auction last year — for the second week in a row. Similarly, the luxury residential market has seen a 90 percent drop in Manhattan home sales over the past month.


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