NEW DEVELOPMENT CONDO REPORT
BROOKLYN
• Inventory contracted as developers filed fewer units than were purchased
• Developers filed 12 plans with 71 units
• The state approved 16 plans with 123 units valued at $131 million
• Buyers purchased 111 units valued at $105 million
SUPPLY
BROOKLYN NEW DEVELOPMENT CONDO SUPPLY
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Sterling Town Equities | 194 21st Street | $27,960,000 | 26 |
| Oleg Krasnitsky | 631 East 18th Street | $19,073,800 | 26 |
| Sterling Town Equities | 653 Bergen Street | $16,400,000 | 7 |
| Leonid Bogomolniy & Tigran Sahakyan | 362 Van Brunt Street | $15,100,000 | 10 |
Source: TRData analysis of plans approved to sell by the NYS Attorney General in March
LARGEST PROJECTS FILED IN BROOKLYN
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Eran Nornberg & Jeffrey Siegel | 738 Grand Street | 10 | N/A |
| Milton Sum et al. | 838 41st Street | 8 | $8,423,100 |
| Michael Kandinov et al. | 684 Madison Street | 8 | $7,425,000 |
| East Coast Real Estate | 803 Quincy Street | 8 | $6,244,000 |
Source: TRData analysis of plans submitted to the NYS Attorney General in March
QUEENS NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Pinnacle Group | 41-60 Bowne Street (conversion) | $29,817,832 | 64 |
| Danny Chiang et al. | 22-30 College Point Boulevard | $14,800,800 | 14 |
| Tamal Monsur | 172-18 Jamaica Avenue | $12,100,000 | 20 |
| Kingston Property | 89-14 150th Street | $8,650,000 | 22 |
Source: TRData analysis of plans approved to sell by the NYS Attorney General in March
LARGEST PROJECTS FILED IN QUEENS
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Z&W of New York | 139-20 34th Street | 30 | $18,000,500 |
| Wen Jin Wang et al. | 109-14 72nd Road | 23 | $26,091,621 |
| MetroDev Group | 27-21 27th Street | 8 | $7,661,250 |
| George Damiris et al. | 27-34 27th Street | 7 | $6,188,300 |
Source: TRData analysis of plans submitted to the NYS Attorney General in March
DEMAND
BROOKLYN NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| David Duke Dweck,nSteven Ancona & Michael Marino | $2,550,000 | 66 North 3rd Street | 4 |
| Shiraz Sanjana | $2,393,670 | 84 Oak Street | 3A |
| Hopestreet | $2,350,000 | 509 Pacific Street | PH2A |
| Hopestreet | $2,202,170 | 509 Pacific Street | 3B |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in March
QUEENS NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Ekstein Development Group | $1,087,186 | 25-19 43rd Avenue | 811 |
| Onex Real Estate Partners | $959,943 | 131-01 40th Road | 11S |
| Ampiera Group | $875,695 | 42-50 27th Street | 4A |
| Kenny Liu | $806,454 | 97-45 63rd Drive | 5E |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in March