Brooklyn and Queens condo inventory through April 2019

A roundup of news and data on the residential market

Jun.June 01, 2019 01:00 PM

NEW DEVELOPMENT CONDO REPORT

BROOKLYN

• Inventory expanded as developers filed more units than were purchased

• Developers filed 10 plans with 263 units

• The state approved 14 plans with 107 units valued at $124 million

• Buyers purchased 194 units valued at $211 million

SUPPLY

BROOKLYN NEW DEVELOPMENT

CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Leser Group6020 16th Avenue$14,168,47511
Joel Weiss577 Flushing Avenue$13,225,00016
Leser Group6004 16th Avenue$12,848,37511
Leser Group6010 16th Avenue$11,965,05011

Source: TRData analysis of plans approved to sell by NYS Attorney General in April

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
New Empire Real Estate Development222 East 21st Street108$77,938,050
Isaac Schwartz948 Myrtle Avenue78$83,684,300
Jin Tan279 Sumpter Street17$10,913,000
Zephyr Construction Management364 Harman Street16$9,898,426

Source: TRData analysis of plans submitted to the NYS Attorney General in April

QUEENS NEW DEVELOPMENT

CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Pinnacle Group133-17 Sanford Avenue (conversion)$40,234,48085
Eric Belanich30-54 38th Street$9,975,00010

Source: TRData analysis of plans submitted to the NYS Attorney General in April

LARGEST PROJECTS FILED IN QUEENS

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Tamal Monsur148-36 89th Avenue27$15,454,900
Shumei Ma et al.214-11 35th Street16$19,950,618
Chung Chan et al.40-23 74th Street8$7,436,495
Hui Teng et al.49-08 111th Street7$2,080,000

Source: TRData analysis of plans submitted to the NYS Attorney General in April

DEMAND

BROOKLYN NEW DEVELOPMENT CONDO SALES

DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSORSALE PRICEADDRESSUNIT
Bluerock Real Estate$6,400,000325 Pacific Street325 (townhouse)
Slate Property Group,
Adam America Real Estate
$4,709,91551 Jay StreetPHA
Fortis Property Group$4,634,615100 Amity Street7
Dean Brodsky$3,550,000277 1st StreetPH

Source: TRData analysis of NYC Dept. of Finance sales in new development projects in April

QUEENS NEW DEVELOPMENT CONDO SALES

DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

 
SPONSORSALE PRICEADDRESSUNIT
Onex Real Estate Partners$1,513,655131-01 40th Road10A
PSRS Realty Group$1,323,725109-19 72nd Road7F
PSRS Realty Group$1,308,451109-19 72nd Road7C
Ekstein Development Group$1,234,83325-19 43rd AvenuePH9

Source: TRData analysis of NYC Dept. of Finance sales in new development projects in April


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