Brooklyn and Queens condo inventory through May 2019

A roundup of news and data on the residential market
By Kevin Sun and Yoryi de la Rosa | July 01, 2019 10:00AM

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

BROOKLYN NEW DEVELOPMENT CONDO SUPPLY

Source: TRData analysis of plans submitted to the NYS attorney general, units filed not sold

MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Alloy Development168 Plymouth Street$131,925,00046
Barry Leon475 Washington Avenue (conversion)$71,611,83860
The Jay Group801 Bedford Avenue$22,644,02518
Guy Iber335-341 Nostrand Avenue (rehab)$14,940,00020

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

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Davbel Properties886 Dahill Road163$181,730,000
Pinnacle Group961 Washington Avenue (conversion)39$23,222,000
Southern Brooklyn
Community Organization
1204-1232 & 1264-1276 37th Street36$15,641,000
Arbie Development137 4th Avenue11$18,548,000

Source: TRData analysis of plans submitted to the NYS attorney general in May

DEMAND

BROOKLYN NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

Source: TRData analysis of NYS AG and NYC Dept. of Finance data

MOST EXPENSIVE CONDO U N I T SALES RECORDED

SPONSORSALE PRICEADDRESSUNITS
Guy Mor$5,550,188113 North 9th StreetPH
Mettle Property Group,
JMH Development
$4,604,61070 Henry Street4
Fortis Property Group$4,056,000100 Amity Street18
Mona Gora, Golden Lioness$3,790,390338 Berry StreetSHS

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

QUEENS NEW DEVELOPMENT CONDO SUPPLY

Source: TRData analysis of plans submitted to the NYS attorney general, units filed not sold

MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS

DEVELOPERDEVELOPERTOTAL SELLOUTUNITS
Choy Ling Lam109-09 15th Avenue$146,219,687134
Carina Yang et al.31-12 38th Avenue$17,017,60018
Haibin Chen et al.50-26 101st Street$3,427,6507

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

LARGEST PROJECTS FILED IN QUEENS

DEVELOPERDEVELOPERUNITSTOTAL SELLOUT
Andy Ho42-44 Crescent Street12$14,790,000
Waverly Development Group15-06 Decatur Street6$4,070,000
David & Martin Baharestani39-32 28th Street2$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

SPONSORSALE PRICEADDRESSUNIT
Guy Mor$5,550,188113 North 9th StreetPH
Fortis Property GroupJMH Development$4,604,61070 Henry Street4
Fortis Property Group$4,056,000100 Amity Street15
Mona Gora, Golden Lioness$3,790,390338 Berry StreetSHS

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

QUEENS NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

Source: TRData analysis of plans submitted to the NYS attorney general in May

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSORSALE PRICEADDRESSUNIT
Shuster Development & Management,
TerraMax Development
$1,385,00011-25 45th Avenue4B
Onex Real Estate Partners$1,083,238131-03 40th Road17A
GP Keystand LLC$903,41931-19 37th Avenue4A
GP Keystand LLC$900,00031-19 37th Avenue5A

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