Manhattan condo inventory through March 2019

A roundup of news and data on the residential market

May.May 01, 2019 01:00 PM

NEW DEVELOPMENT CONDO REPORT MANHATTAN

• Inventory contracted as developers filed fewer units than were purchased
• Developers filed three plans with a total of 57 units
• The state approved five plans with 224 units valued at $801 million
• Buyers purchased 148 units valued at $542 million

SUPPLY

MANHATTAN NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED

DEVELOPERADDRESSTOTAL SELLOUTUNITS
AvalonBay15 West 61st Street$550,140,000172
United Management
& Certes Partners
212 West 95th Street$137,821,47038
Edward J. Minskoff
Equities
11 Jane Street$95,975,0006
Vinbaytel Property
Development
245 East 53rd Street$10,640,0005

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

LARGEST CONDO PROJECTS FILED

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Metropolitan Homes127 West 112th Street25N/A
SK Development &
CB Developers
214 West 72nd Street18N/A
ReGlobe2903 Frederick Douglass Boulevard14$7,784,350

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

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 MARCH

SPONSORSALE PRICEADDRESSUNIT
Vornado Realty Trust$23,419,750220 Central Park South41A
Vornado Realty Trust$22,503,325220 Central Park South38A
Vornado Realty Trust$22,197,850220 Central Park South37A
Rudin Management
& Global Holdings
$21,894,506135 West 11th Street135 (townhouse)

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


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