Manhattan condo inventory through December 2018

A roundup of news and data on the residential market

Feb.February 01, 2019 09:00 AM

NEW DEVELOPMENT CONDO REPORT

MANHATTAN

Inventory increased as new filings outpaced sales
Developers filed three plans with a total of 243 units
The state approved five plans with 121 units valued at $785 million
Buyers purchased 119 units valued at $743 million

SUPPLY

MANHATTAN NEW DEVELOPMENT CONDO SUPPLY

 

MOST EXPENSIVE CONDO PROJECTS APPROVED

DEVELOPERADDRESSTOTAL SELL OUTUNITS
Icon Realty301 East 80th Street$528,175,00072
Icon Realty301 East 81st Street$185,425,00032
Javeri Capital10 Greene Street$32,495,0004
Barrett Design3 East 3rd Street$31,400,0005

Source: TRData analysis of plans approved to sell by NYS AG in December

LARGEST CONDO PROJECTS FILED

DEVELOPERADDRESSUNITSTOTAL SELLOUT
CBSK Ironstate646 11th Avenue222N/A
Naftali Group1045 Madison Avenue17N/A
Steven Schnall & Howard Lev422 West 160th Street (rehab)4$3,656,000

Source: TRData analysis of plans submitted to the NYS AG in December

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 DECEMBER

SPONSORSALE PRICEADDRESSUNIT
Zeckendorf Development$67,921,053520 Park AvenueDPH56
Related Companies$56,010,25070 Vestry StreetPHS
Macklowe Properties
& CIM Group
$30,191,920432 Park Avenue95B
Zeckendorf Development$30,000,000520 Park AvenuePH49

Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in December


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