Brooklyn and Queens condo inventory through June 2019

A roundup of news and data on the residential market

Aug.August 01, 2019 10:00 AM

NEW DEVELOPMENT CONDO REPORT

BROOKLYN

• Inventory expanded as developers filed more units than were purchased
• Developers filed 21 plans with 258 units
• The state approved nine plans with 90 units valued at $88 million
• Buyers purchased 141 units valued at $157 million

SUPPLY

BROOKLYN NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN

DEVELOPERADDRESSTOTAL SELLOUTUNITS
ROART & BHM Realty LLC850 Metropolitan Avenue (rehab)$34,006,00032
Lisjen Realty2881 Nostrand Avenue$15,136,00019
Igor Nestor, Andrzej
Soltys et al.
60 92nd Street$13,136,00014
Tiandong Zheng68 Grove Street$7,944,0006

Source: TRData analysis of plans approved to sell by NYS attorney general in June

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
ROART & BHM Realty LLC77 Clarkson Avenue44N/A
Isaac Deutsch, Abraham Brach
& Nachman Leibowitz
569 Marcy Avenue40$35,725,300
Isaac Deutsch, Abraham Brach
& Nachman Leibowitz
92 Stockton Street39$35,616,750
Zinoviy Zaltsman1916 Avenue X28$22,865,025

Source: TRData analysis of plans submitted to the NYS AG in June

QUEENS

• Inventory expanded as developers filed more units than were purchased
• Developers filed two plans with 278 units
• The state approved three plans with 75 units valued at $71 million
• Buyers purchased 26 units valued at $21 million

SUPPLY

QUEENS NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Anthony Hu & Xiaogang Wang14-55 31st Avenue$41,843,82045
Triple 8 Real Properties32-65 107th Street$14,680,00020
Mark Misk25-34 Steinway Street$14,100,00010

Source: TRData analysis of plans approved to sell by NYS attorney general in June

LARGEST PROJECTS FILED IN QUEENS

DEVELOPERADDRESSUNITSTOTAL SELLOUT
David Lubinitsky12-15 Broadway (conversion)214$140,991,750
Pinnacle Group32-86 33rd Street (conversion)64$38,408,000

Source: TRData analysis of plans submitted to the NYS AG in June

DEMAND

BROOKLYN NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

DEVELOPERSALE PRICEADDRESSUNIT
Toll Brothers$4,952,106130 Furman StreetS-108
JDS Development Group$3,540,000613 Baltic StreetPH B
Greenland Forest City
Partners
$3,499,862550 Vanderbilt Avenue628
Fortis Property Group$3,376,136100 Amity Street1

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

QUEENS NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

DEVELOPERSALE PRICEADDRESSUNIT
Onex Real Estate Partners$2,242,034131-03 40th RoadPH2M
Onex Real Estate Partners$1,217,877131-01 40th Road19V
Onex Real Estate Partners$1,093,752131-01 40th Road20A
Onex Real Estate Partners$1,056,586131-01 40th Road19F

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