Manhattan condo inventory through November 2018

A roundup of news and data on the residential market

Jan.January 01, 2019 10:00 AM

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

DEVELOPERADDRESSRESI. UNITSTOTAL SELLOUT
Sinha Development128 East 28th Street11N/A
Elysee Investment133-137 East 73rd Street4$58,750,000
Icon Realty
Management
222 East 81st Street
conversion
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

SPONSORSALE PRICEADDRESSUNIT
Zeckendorf Development$73,800,000520 Park AvenueDPH60
Zeckendorf Development$62,000,000520 Park AvenueDPH52
Zeckendorf Development$25,866,550520 Park Avenue30
Zeckendorf Development$23,000,000520 Park Avenue24

Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in November 2018


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