Brooklyn and Queens condo inventory through February 2019

A roundup of news and data on the residential market

Apr.April 01, 2019 09:00 AM

NEW DEVELOPMENT CONDO REPORT

BROOKLYN

  • Inventory expanded as developers filed more units than were purchased
  •  Developers filed 18 plans with 114 units
  •  The state approved 15 plans with 410 units valued at $530 million
  •  Buyers purchased 105 units valued at $99 million

SUPPLY

BROOKLYN NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Sugar Hill Capital Partners1 Prospect Park West$198,573,75055
CIM Group & LIVWRK111 Montgomery Street $147,429,500163
Happy Living/Levi Balkany805 Washington Avenue$58,583,00037
Happy Living/Levi Balkany229 9th Street$43,855,00039

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

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Winchester Equities2222-2226 Ocean Avenue49$31,744,950
Jun Ming Mai278 Nassau Avenue7$9,037,000
Eyal Ovadia682 Willoughby Avenue7$5,500,000
East Coast Real Estate Development191 Withers Street6$5,550,000

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

DEMAND

BROOKLYN NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSORSALE PRICEADDRESSUNIT
Megalith Capital Management
& Urban Realty Partners
$ 5,088,559200 Water StreetPHA
Toll Brothers$4,327,91990 Furman StreetN-212
ZR Management Associates$3,003,838105 Eighth Avenue7
David Duke Dweck, Steven
Ancona & Michael Marino
$2,825,00066 North 3rd Street2

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

QUEENS

  • Inventory expanded as developers filed more units than were purchased
  •  Developers filed two plans with 121 units
  •  The state approved five plans with 187 units valued at $183 million
  •  Buyers purchased 42 units valued at $33 million

SUPPLY

QUEENS NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS

DEVELOPERADDRESSTOTAL SELLOUTUNIT
Ai Yun Chen et al.62-98 Woodhaven Boulevard$65,422,64592
Hua Yuan Development136-46 41st Avenue$60,094,12528
Fotios & Sofia LLC23-16 31st Avenue$25,231,40026
D10 Group Inc.23-43 31st Road$20,742,87525

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

LARGEST PROJECTS FILED IN QUEENS

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Silverback Development24-16 Queens Plaza South (rehab)109N/A
Sam Chang43-24 Robinson Street12N/A

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

DEMAND

QUEENS NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSORSALE PRICEADDRESSUNIT
Century Development Group$2,036,50011-30 45th Road6A
Ampiera Group$1,415,36824-12 42nd Road6C
PSRS Realty Group$1,349,181109-19 72nd Road7B
Onex Real Estate Partners$1,332,113131-01 40th RoadPH2W

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


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