The Real Deal New York

Manhattan condo inventory through January 2019

A roundup of news and data on the residential market
March 01, 2019 12:00PM

NEW DEVELOPMENT CONDO REPORT

MANHATTAN

  • Inventory contracted as developers filed fewer units than were purchased
  • Developers filed one plan with 22 units
  • The state approved four plans with 143 units valued at $294 million
  • Buyers purchased 99 units valued at $783 million

SUPPLY

MANHATTAN NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Xinyuan Real Estate
& Kuafu Properties
615 10th Avenue$165,330,00092
Greystone Development164 West 74th Street$60,560,00014
Level One Holdings10 Lenox Avenue$37,240,00029
Greystone Development108 Chambers Street$30,450,0008

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

LARGEST CONDO PROJECTS FILED

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Azimuth Development375 West 123rd Street22$44,009,000

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

DEMAND

MONTHLY TOTAL MANHATTAN
NEW DEVELOPMENT SALES VOLUME

MONTHLY MEDIAN SALES PRICE AND UNIT
VOLUME IN MANHATTAN NEW DEVELOPMENT

SPONSORSALE PRICEADDRESSUNIT
Vornado Realty Trust$239,958,219220 Central Park South50
Zeckendorf Development$64,250,000520 Park AvenueDPH54
Related Companies$40,735,50070 Vestry StreetPHN
Zeckendorf Development$32,396,000520 Park AvenuePH48

Source: TRData analysis of NYS Attorney General and NYC Dept. of Finance records for units in condo projects that sold in January