88 NEW DEVELOPMENT CONDO REPORT
BROOKLYN
Inventory declined as developers filed fewer units than were purchased
Developers filed 13 plans with 117 units
The state approved 12 plans with 289 units valued at $625 million
Buyers purchased 141 units valued at $137 million
SUPPLY
BROOKLYN NEW DEVELOPMENT CONDO SUPPLY
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Hudson Companies | 280 Cadman Plaza West | $477,700,000 | 133 |
| CGI Strategies | 613 4th Avenue | $75,013,000 | 73 |
| Scott Kushnick | 1325 Herkimer Street | $18,298,000 | 32 |
| Farhad Bokhour | 18-20 Garfield Place | $14,400,000 | 8 |
Source: TRData analysis of plans approved to sell by NYS AG in December
LARGEST PROJECTS FILED IN BROOKLYN
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Metropolitan Homes | 401 Rutland Road | 22 | N/A |
| Yury Gokhberg et al. | 2131 Ocean Avenue | 16 | $15,769,438 |
| Yuk Yiu Sze | 3031 Brighton 5th Street | 16 | $9,220,000 |
| Brooklyn Home Company | 719 6th Avenue | 12 | $18,200,000 |
Source: TRData analysis of plans submitted to the NYS AG in December
QUEENS NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Eastern Star Development | 27-17 42nd Road | $262,976,700 | 182 |
| Pik Wan Lam et al. | 50-10 39th Street | $14,830,000 | 15 |
Source: TRData analysis of plans approved to sell by NYS AG in December
LARGEST PROJECTS FILED IN QUEENS
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Circle F Capital | 5-33 48th Avenue | 43 | N/A |
| Dantong Liu | 144-38 35th Avenue | 28 | $21,375,400 |
| Huaming Inc. | 104-15 Corona Avenue | N/A | $6,580,000 |
Source: TRData analysis of plans submitted to the NYS AG in December
DEMAND
BROOKLYN NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| DDG Partners,nWestbrook Properties | $16,745,121 | 171 Columbia Heights | PH |
| Toll Brothers | $5,603,787 | 90 Furman Street | N800 |
| Brooklyn Home Company | $2,621,994 | 503 6th Avenue | PH |
| DNA Development | $2,479,439 | 280 St. Marks Avenue | PH-E |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in December
QUEENS NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Rising Developers Group | $2,443,800 | 42-60 Crescent Street | PH10D |
| Ascent Development | $1,875,000 | 5-41 47th Road | 2B |
| Onex Real Estate Partners | $1,708,866 | 131-01 40th Road | 16A |
| Ampiera Group | $1,221,900 | 24-12 42nd Road | 2E |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in December