The Real Deal New York

Brooklyn and Queens condo inventory through July 2018

A roundup of news and data on the residential market
By Adam Pincus and Yoryi De La Rosa | September 01, 2018 09:00AM

 

NEW DEVELOPMENT CONDO REPORT

BROOKLYN

•Inventory grew slightly as new filings outpaced sales
•Developers filed 20 plans with 256 units
•The state approved 12 plans with 319 units valued at $322 million for sale
•Buyers purchased 161 units valued at $205 million

Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in projects filed but not yet sold

Most Expensive Condo Project Approved In Brooklyn

DEVELOPERADDRESSTOTAL SELLOUTUNITS
Adam America Real Estate10 Nevins Street$196,955,000184
Charles Luk and others7516 Bay Parkway$38,616,14544
Tian Wu Lu949 60th Street$29,253,00032
Brooklyn Building Enterprises4907 4th Avenue$16,530,00025

Largest Project Filed In Brooklyn

DEVELOPERADDRESSUNITSTOTAL SELLOUT
Daten Group575 4th Avenue70$106,160,041
Happy Living Development805 Washington Avenue37N/A
Brookland Capital927 Atlantic Avenue21N/A
Royal Builders3016 Brighton 5th Street16$8,294,000

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

Most Expensive Condo unit Sales Recorded

SPONSORSALE PRICEADDRESSUNIT
DDG Partners,
Westbrook Properties
$11,865,863167 Columbia Heights10
Hopestreet$4,579,784509 Pacific StreetPH1B
Toll Brothers$4,280,06190 Furman StreetN-208
Hopestreet$4,253,694509 Pacific StreetPH1C

QUEENS

•Inventory remained flat as new filings were nearly identical to sales
•Developers filed one plan with 46 units
•The state approved no plans in July
•Buyers purchased 49 units valued at $44 million

Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in projects filed but not yet sold

Largest Project Filed In Queens

DEVELOPERADDRESSUNITSTOTAL SELLOUT
RockFarmer Properties21-21 31st Street46N/A

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

Most Expensive Condo unit Sales Recorded

SPONSORSALE PRICEADDRESSUNIT
Ascent Development$2,991,74111-49 47th AvenuePHB
Onex Real Estate Partners$2,651,256131-01 40th RoadPH3M
Ascent Development$2,392,88810-27 47th Road1A
Onex Real Estate Partners$2,332,544131-03 40th RoadPH1A