Here are the new developments offering the most buyer incentives

TRD’s ranking shows that covering common charges is the most popular sweetener

New York /
Apr.April 22, 2021 08:00 AM
85 Jay Street in Dumbo and 515 West 29th Street in Chelsea (Photos via Winick, SCDA Architects)

85 Jay Street in Dumbo and 515 West 29th Street in Chelsea (Photos via Winick, SCDA Architects)

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro, the one-stop real estate terminal providing you with all the data and market information you need.

Free parking, paid closing costs, no taxes, oh my! As developers across New York City look to move new units amid an inventory glut, several new development buildings — particularly those in Brooklyn — are offering buyers a range perks.

A total of 22 new condo and co-ops buildings across the city with active sponsor unit listings are officially offering incentives, according to an analysis of StreetEasy listings from April 10. That’s about 15 percent of the new development projects currently selling.

More than half of the buildings offering incentives are in Brooklyn. CIM Group and LIVWRK, for example, are offering one year of free common charges at both their Front & York property at 85 Jay Street in Dumbo and at 111 Montgomery Street in Crown Heights, while ROART’s 77 Clarkson Avenue in Prospect Lefferts Gardens is offering a 5 percent closing credit.

While Brooklyn offered the most incentives, Manhattan’s were the most generous. Buyers at Forum Absolute Capital Partners’ 515 West 29th Street in Chelsea will get two years of free common charges. Meanwhile, Level One Holdings is offering to cover three years of real estate taxes at 10 Lenox Avenue in Harlem.





    Related Articles

    arrow_forward_ios
     Winzone Realty's Ben Pan and Keller Williams' Marc King (Winzone Realty, KW)
    These are Queens’ top brokerages by agent headcount
    These are Queens’ top brokerages by agent headcount
    Douglas Elliman Executive Chairman Howard Lorber (Elliman)
    These are Long Island’s top brokerages by agent headcount
    These are Long Island’s top brokerages by agent headcount
    41 Central Park West and Stephen Burke (Harperly Hall, Getty)
    NBCUniversal chairman Stephen Burke lists co-op for $19M — again
    NBCUniversal chairman Stephen Burke lists co-op for $19M — again
    Ben Hakimian and Naveen Shah of Navika Capital Group (Navika Group of Companies, LoopNet, iStock, KSU)
    Hakimian sells hotel at 75 Wall Street
    Hakimian sells hotel at 75 Wall Street
    Alex Rodriguez - businessman, philanthropist and former professional baseball player - in front of the Beresford (Getty Images, Wikipedia/David Shankbone, Illustration by Steven Dilakian for The Real Deal)
    A-Rod’s $10M co-op deal approved after “tantrum”
    A-Rod’s $10M co-op deal approved after “tantrum”
    (Getty, Winick)
    Chetrit Group sells 1231 Third Avenue
    Chetrit Group sells 1231 Third Avenue
    The end of an Era: Serhant takes over sales at cantilevered UWS building
    The end of an Era: Serhant takes over sales at cantilevered UWS building
    The end of an Era: Serhant takes over sales at cantilevered UWS building
    Deals in new developments top Manhattan luxury market’s new year
    Deals in new developments top Manhattan luxury market’s new year
    Deals in new developments top Manhattan luxury market’s new year
    arrow_forward_ios

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

    Loading...