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New York

Brooklyn and Queens condo inventory through December 2018

A roundup of news and data on the residential market

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

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Hudson Companies280 Cadman Plaza West$477,700,000133
CGI Strategies613 4th Avenue$75,013,00073
Scott Kushnick1325 Herkimer Street$18,298,00032
Farhad Bokhour18-20 Garfield Place$14,400,0008

Source: TRData analysis of plans approved to sell by NYS AG in December

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Metropolitan Homes401 Rutland Road22N/A
Yury Gokhberg et al.2131 Ocean Avenue16$15,769,438
Yuk Yiu Sze3031 Brighton 5th Street16$9,220,000
Brooklyn Home Company719 6th Avenue12$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

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Eastern Star Development27-17 42nd Road$262,976,700182
Pik Wan Lam et al.50-10 39th Street$14,830,00015

Source: TRData analysis of plans approved to sell by NYS AG in December

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LARGEST PROJECTS FILED IN QUEENS

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Circle F Capital5-33 48th Avenue43N/A
Dantong Liu144-38 35th Avenue28$21,375,400
Huaming Inc.104-15 Corona AvenueN/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

SPONSORSALE PRICEADDRESSUNIT
DDG Partners,nWestbrook Properties$16,745,121171 Columbia HeightsPH
Toll Brothers$5,603,78790 Furman StreetN800
Brooklyn Home Company$2,621,994503 6th AvenuePH
DNA Development$2,479,439280 St. Marks AvenuePH-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

 

SPONSORSALE PRICEADDRESSUNIT
Rising Developers Group$2,443,80042-60 Crescent StreetPH10D
Ascent Development$1,875,0005-41 47th Road2B
Onex Real Estate Partners$1,708,866131-01 40th Road16A
Ampiera Group$1,221,90024-12 42nd Road2E

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