Manhattan condo inventory through October 2018

A roundup of news and data on the residential market

Dec.December 01, 2018 10:00 AM

NEW DEVELOPMENT CONDO REPORT

MANHATTAN

• Inventory grew as new filings outpaced sales
• Developers filed five plans with a total of 307 units
• Just one plan was approved for sale in October with six units and a total sellout of $10 million
• Buyers purchased 144 units valued at $470 million

SUPPLY

MANHATTAN NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED

DEVELOPERADDRESSTOTAL SELLOUTRESI. UNITS
Brad Simmons313 West 121st Street$10,019,4856

Source: TRData analysis of plans approved to sell by NYS AG in October

LARGEST CONDO PROJECTS FILED

DEVELOPERADDRESSRESI. UNITSTOTAL SELLOUT
AvalonBay Communities15 West 61st Street172N/A
Chaim Nortman11 Hancock Place71$91,254,675
GreenOak Real Estate150 West 82nd Street
(Conversion)
40$89,964,725
Iliad Realty Group67 Vestry Street17N/A

Source: TRData analysis of plans submitted to the NYS AG in October

DEMAND

MONTHLY TOTAL MANHATTAN NEW DEVELOPMENT SALES VOLUME

 
 

MONTHLY MEDIAN SALES PRICE AND UNIT  VOLUME IN MANHATTAN NEW DEVELOPMENT

SPONSORSALE PRICEADDRESSUNIT
Zeckendorf Development$31,500,000520 Park Avenue36
Related Companies$26,989,12570 Vestry Street10N
Related Companies$25,462,25070 Vestry Street12N
Related Companies$18,805,00070 Vestry Street10S

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


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