Brooklyn and Queens condo inventory through March 2019

A roundup of news and data on the residential market

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