Manhattan condo inventory through February 2019

A roundup of news and data on the residential market
By Kevin Sun and Yoryi de la Rosa | April 01, 2019 09:00AM

NEW DEVELOPMENT CONDO REPORT

MANHATTAN

• Inventory expanded as developers filed more units than were purchased

• Developers filed five plans with a total of 300 units

• The state approved two plans with 21 units valued at $99 million

• Buyers purchased 86 units valued at $476 million

 

MANHATTAN NEW DEVELOPMENT CONDO

SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Ceruzzi Properties
& Kuafu Properties
1289 Lexington Avenue$92,120,00013
Almat Group2457 Frederick Douglass
Boulevard (rehab)
$6,850,0008

Source: TRData analysis of plans approved to sell by NYS Attorney General in February

LARGEST CONDO PROJECTS FILED

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Centurion Real Estate
Partners
200-212 West 72nd Street
(conversion)
196$402,520,000
SHVO & BLG Capital685 Fifth Avenue69N/A
KD Sagamore &
Ranger Properties
199-201 Chrystie Street14$95,970,000
Saul Mazor & Alex Halimi231 East 123rd Street11$7,000,000

Source: TRData analysis of plans submitted to the NYS Attorney General in February

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 FEBRUARY

SPONSORSALE PRICEADDRESSUNIT
Related Companies$39,285,00070 Vestry Street12S
Vornado Realty Trust$33,500,000220 Central Park South35A
Zeckendorf Development$32,000,000520 Park AvenuePH51
Macklowe Properties & CIM Group$30,691,657432 Park Avenue95