Trending
Pinnacle Bank buys back Fort Worth office tower for $12 per sf 
Goldman Sachs and Ballast ready to surrender SF apartments to lender
“Multifamily is in the crosshairs”: Execs talk distress, opportunities at Milken conference
"Financially devastating": Receiver takes over embattled Pembroke Pines condo complexBrooklyn and Queens condo inventory through May 2019
A roundup of news and data on the residential market
NEW DEVELOPMENT CONDO REPORT
BROOKLYN
• Inventory expanded as developers filed more units than were purchased
• Developers filed 19 plans with 325 units
• The state approved 17 plans with 223 units valued at $319 million
• Buyers purchased 172 units valued at $208 million
Source: TRData analysis of plans submitted to the NYS attorney general, units filed not sold
MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Alloy Development | 168 Plymouth Street | $131,925,000 | 46 |
| Barry Leon | 475 Washington Avenue (conversion) | $71,611,838 | 60 |
| The Jay Group | 801 Bedford Avenue | $22,644,025 | 18 |
| Guy Iber | 335-341 Nostrand Avenue (rehab) | $14,940,000 | 20 |
Source: TRData analysis of plans approved to sell by NYS attorney general in May
LARGEST PROJECTS FILED IN BROOKLYN
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Davbel Properties | 886 Dahill Road | 163 | $181,730,000 |
| Pinnacle Group | 961 Washington Avenue (conversion) | 39 | $23,222,000 |
| Southern BrooklynnCommunity Organization | 1204-1232 & 1264-1276 37th Street | 36 | $15,641,000 |
| Arbie Development | 137 4th Avenue | 11 | $18,548,000 |
Source: TRData analysis of plans submitted to the NYS attorney general in May
DEMAND
Source: TRData analysis of NYS AG and NYC Dept. of Finance data
MOST EXPENSIVE CONDO U N I T SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNITS |
|---|---|---|---|
| Guy Mor | $5,550,188 | 113 North 9th Street | PH |
| Mettle Property Group,nJMH Development | $4,604,610 | 70 Henry Street | 4 |
| Fortis Property Group | $4,056,000 | 100 Amity Street | 18 |
| Mona Gora, Golden Lioness | $3,790,390 | 338 Berry Street | SHS |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in May
QUEENS
• Inventory contracted as developers filed fewer units than were purchased
• Developers filed three plans with 20 units
• The state approved three plans with 159 units valued at $167 million
• Buyers purchased 23 units valued at $16 million
Source: TRData analysis of plans submitted to the NYS attorney general, units filed not sold
MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS
| DEVELOPER | DEVELOPER | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Choy Ling Lam | 109-09 15th Avenue | $146,219,687 | 134 |
| Carina Yang et al. | 31-12 38th Avenue | $17,017,600 | 18 |
| Haibin Chen et al. | 50-26 101st Street | $3,427,650 | 7 |
Source: TRData analysis of plans approved to sell by NYS attorney general in May
LARGEST PROJECTS FILED IN QUEENS
| DEVELOPER | DEVELOPER | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Andy Ho | 42-44 Crescent Street | 12 | $14,790,000 |
| Waverly Development Group | 15-06 Decatur Street | 6 | $4,070,000 |
| David & Martin Baharestani | 39-32 28th Street | 2 | $4,350,000 |
Source: TRData analysis of plans submitted to the NYS attorney general in May
DEMAND
Source: TRData analysis of NYS AG and NYC Dept. of Finance data
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Guy Mor | $5,550,188 | 113 North 9th Street | PH |
| Fortis Property GroupJMH Development | $4,604,610 | 70 Henry Street | 4 |
| Fortis Property Group | $4,056,000 | 100 Amity Street | 15 |
| Mona Gora, Golden Lioness | $3,790,390 | 338 Berry Street | SHS |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in May
Source: TRData analysis of plans submitted to the NYS attorney general in May
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Shuster Development & Management,nTerraMax Development | $1,385,000 | 11-25 45th Avenue | 4B |
| Onex Real Estate Partners | $1,083,238 | 131-03 40th Road | 17A |
| GP Keystand LLC | $903,419 | 31-19 37th Avenue | 4A |
| GP Keystand LLC | $900,000 | 31-19 37th Avenue | 5A |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in May