NEW DEVELOPMENT CONDO REPORT
MANHATTAN
• Inventory contracted as developers filed fewer units than were purchased
• Developers filed six plans with a total of 163 units
• The state approved five plans with 612 units valued at $1.6 billion
• Buyers purchased 171 units valued at $639 million
SUPPLY
MANHATTAN NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Fosun Group & J.D. Carlisle | 15 East 30th Street | $821,525,000 | 199 |
| LCOR | 25 Broad Street (conversion) | $395,000,000 | 308 |
| Trinity Place Holdings | 77 Greenwich Street | $316,535,000 | 90 |
| DDG | 100 Franklin Street | $47,905,000 | 10 |
Source: TRData analysis of plans submitted to the NYS Attorney General in April
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Clipper Equity | 21 West 86th Street (conversion) | 108 | $203,580,580 |
| Delshah Capital | 531-533 East 12th Street (conversion) | 26 | $37,400,000 |
| Colonnade Group | 139 East 23rd Street | 14 | N/A |
| Bin Yu Wang & partners | 327 East 22nd Street | 11 | $37,314,717 |
Source: TRData analysis of plans submitted to the NYS Attorney General in April
DEMAND
MONTHLY TOTAL MANHATTAN
NEW DEVELOPMENT SALES VOLUME
MONTHLY MEDIAN SALES PRICE AND UNIT
VOLUME IN MANHATTAN NEW DEVELOPMENT
MOST EXPENSIVE CONDO SPONSOR UNIT SALES
RECORDED IN APRIL
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Vornado Realty Trust | $34,365,938 | 220 Central Park South | V-5 |
| Vornado Realty Trust | $23,725,225 | 220 Central Park South | 42A |
| William Macklowe Companyn& Goldman Sachs | $23,278,631 | 21 East 12th Street | 3A |
| Vornado Realty Trust | $19,855,875 | 220 Central Park South | 36A |
Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in April