MANHATTAN
• Inventory contracted as sales outpaced new filings
• Developers filed three plans with a total of 18 units
• No plans were approved for sale in November — the first such month since last November
• Buyers purchased 111 units valued at $615 million.
SUPPLY
MANHATTAN NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
THERE WERE NO PROJECTS APPROVED IN NOVEMBER
Source: TRData analysis of plans approved to sell by NYS Attorney General in November 2018
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | RESI. UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Sinha Development | 128 East 28th Street | 11 | N/A |
| Elysee Investment | 133-137 East 73rd Street | 4 | $58,750,000 |
| Icon RealtynManagement | 222 East 81st Streetnconversion | 3 | $22,300,000 |
Source: TRData analysis of plans submitted to the NYS AG in November 2018
DEMAND
MONTHLY TOTAL MANHATTAN NEW DEVELOPMENT SALES VOLUME
MONTHLY MEDIAN SALES PRICE AND UNIT VOLUME IN MANHATTAN NEW DEVELOPMENT
MOST EXPENSIVE CONDO SPONSOR UNITS RECORDED IN NOVEMBER
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Zeckendorf Development | $73,800,000 | 520 Park Avenue | DPH60 |
| Zeckendorf Development | $62,000,000 | 520 Park Avenue | DPH52 |
| Zeckendorf Development | $25,866,550 | 520 Park Avenue | 30 |
| Zeckendorf Development | $23,000,000 | 520 Park Avenue | 24 |
Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in November 2018