The Real Deal New York

Brooklyn and Queens condo inventory through January 2019

A roundup of news and data on the residential market
March 01, 2019 12:00PM

NEW DEVELOPMENT CONDO REPORT

BROOKLYN

  • Inventory declined as sales outpaced new filings
  • Developers filed 10 plans with 82 units
  • The state approved eight plans with 46 units valued at $52 million
  • Buyers purchased 112 units valued at $111 million

SUPPLY

BROOKLYN NEW DEVELOPMENT
CONDO SUPPLY

 

MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Mortar ARCH + DEV91 Diamond Street$14,275,00010
Level One Holdings496-498 Prospect Place$8,275,0006
Elon Lebouvich537 Court Street (rehab)$6,900,0005
Etrog Realty532 New York Avenue$5,815,0005

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

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
M Development/Rafi Manor19 Hausman Street15$15,053,000
Igor Nestor, Andrzej Soltys et al.60 92nd Street14$13,136,000
Zaur Laven & Reuven Rothstein1702 Newkirk Avenue12$10,635,652
Carlos Rosero187 18th Street (rehab)7$5,660,000

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

DEMAND

BROOKLYN NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSORSALE PRICEADDRESSUNIT
Toll Brothers$4,700,000130 Furman StreetS-406
Toll Brothers$3,040,00090 Furman StreetN-415
Kushner Companies$2,560,102184 Kent AvenueC611
Fortis Property Group$2,550,000100 Amity Street8

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

QUEENS

  • Inventory expanded as developers filed more units than were purchased
  • Developers filed seven plans with 203 units
  • The state approved one plan with 22 units valued at $13 million
  • Buyers purchased 62 units valued at $45 million

SUPPLY

QUEENS NEW DEVELOPMENT
CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Ji Juan Lin144-56 Roosevelt Ave$13,401,70022

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

LARGEST PROJECTS FILED IN QUEENS

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Pinnacle Group97-25 64th Avenue (conversion)108$61,019,251
Kenny Liu41-14 27th Street32$28,827,800
Sunlight Development136-20 Booth Memorial Avenue24$29,073,100
Kingston Property90-31 171st Street12$5,345,000

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

DEMAND

QUEENS NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSORSALE PRICEADDRESSUNIT
Impex Builders$1,573,19621-10 44th Drive5C
PSRS Realty Group$1,374,638109-19 72nd Road7A
Impex Builders$1,308,45121-10 44th DrivePHC
Ekstein Development Group$1,295,92925-21 43rd Avenue808

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