Brooklyn and Queens condo inventory through March 2019

A roundup of news and data on the residential market

May.May 01, 2019 01:00 PM

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

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Sterling Town Equities194 21st Street$27,960,00026
Oleg Krasnitsky631 East 18th Street$19,073,80026
Sterling Town Equities653 Bergen Street$16,400,0007
Leonid Bogomolniy & Tigran Sahakyan362 Van Brunt Street$15,100,00010

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

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Eran Nornberg & Jeffrey Siegel738 Grand Street10N/A
Milton Sum et al.838 41st Street8$8,423,100
Michael Kandinov et al.684 Madison Street8$7,425,000
East Coast Real Estate803 Quincy Street8$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

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Pinnacle Group41-60 Bowne Street (conversion)$29,817,83264
Danny Chiang et al.22-30 College Point Boulevard$14,800,80014
Tamal Monsur172-18 Jamaica Avenue$12,100,00020
Kingston Property89-14 150th Street$8,650,00022

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

LARGEST PROJECTS FILED IN QUEENS

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Z&W of New York139-20 34th Street30$18,000,500
Wen Jin Wang et al.109-14 72nd Road23$26,091,621
MetroDev Group27-21 27th Street8$7,661,250
George Damiris et al.27-34 27th Street7$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

SPONSORSALE PRICEADDRESSUNIT
David Duke Dweck,
Steven Ancona & Michael Marino
$2,550,00066 North 3rd Street4
Shiraz Sanjana$2,393,67084 Oak Street3A
Hopestreet$2,350,000509 Pacific StreetPH2A
Hopestreet$2,202,170509 Pacific Street3B

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

SPONSORSALE PRICEADDRESSUNIT
Ekstein Development Group$1,087,18625-19 43rd Avenue811
Onex Real Estate Partners$959,943131-01 40th Road11S
Ampiera Group$875,69542-50 27th Street4A
Kenny Liu$806,45497-45 63rd Drive5E

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


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