The Real Deal New York

Brooklyn and Queens condo inventory through June 2018

A roundup of news and data on the residential market
By Adam Pincus and Yoryi De La Rosa | August 01, 2018 12:00PM

New development condo report

Brooklyn

  • Inventory increased in June as new filings exceeded sales
  • Developers filed 26 plans with 547 units
  • The state approved 19 plans with 229 units valued at $188 million for sale
  • Buyers purchased 165 units valued at $179 million

Supply

Brooklyn new development condo supply

Source: TRData analysis of plans submitted to the NYS Attorney General, units filed not sold

Most expensive condo projects approved in Brooklyn
developerAddressTotal selloutUNITS
Coltown Properties,
Moshe Greenzweig, Eliezer Jeremias
61 Martense Street$49,496,00036
Jin Zhui Chen and others1587 East 19th Street$39,319,70084
Solomon Schwimmer,
Twin Group Associates
195 Sullivan Place$12,360,00019
Kenneth Hudes, Mark Rechler51 Lincoln Place$9,300,0004

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

 

Largest projects filed in Brooklyn
DEVELOPERADDRESSUNITSTOTAL SELOUT
Hope Street Capital98 Front Street24N/A
CIM Group, LIVWRK111 Montgomery Street14$149,179,500
Scott Kushnick1325 Herkimer Street10N/A
Tin Ming Fung and others168 Avenue P10$22,219,000

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

Demand

Brooklyn new development condo sales dollar volume and unit volume

Most expensive condo unit sales recorded
SPONSOREDSALEPRICEADDRESSUNITS
DDG Partners,
Westbrook Properties
$11,000,350171 Columbia Heights8A, 8B
Toll Brothers$8,128,35090 Furman StreetN811
Slate Property Group,
Adam America Real Estate
$4,003,00051 Jay StreetPHC
Sterling Equities$3,562,802337 Carroll StreetPHD

Source: TRData analysis of NYC Dept. of Finance sales in new development projects in June

 


Queens

  • Inventory ticked up in June as new filings outpaced sales
  • Developers filed four plans with 125 units
  • The state approved two plans with 92 units valued at $141 million for sale
  • Buyers purchased 62 units valued at $53 million

Queens new development condo supply

Source: TRData analysis of plans submitted to the NYS Attorney General, units filed not sold

Most expensive condo projects approved in Queens
SPONSOREDSALEPRICEADDRESSUNITS
DDG Partners,
Westbrook Properties
$11,000,350171 Columbia Heights8A, 8B
Toll Brothers$8,128,35090 Furman StreetN811
Slate Property Group,
Adam America Real Estate
$4,003,00051 Jay StreetPHC
Sterling Equities$3,562,802337 Carroll StreetPHD

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

Largest projects filed in Queens
DEVELOPERADDRESSTOTALSELLOUTUNITS
CBSK Ironstate21-30 44th Drive$136,123,55085
Krzysztof Rostek1813 Greene Avenue$4,533,0007

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

 

Demand

Queens new development condo sales dollar volume and unit volume

Most expensive condo unit sales recorded
DEVELOPERADDRESSUNITSTOTAL SELLOUT
Yin C. Hu141-26 Northern Boulevard56 N/A
Anthony Hu's Eastern Star Development14-55 31st Avenue45 $41,843,820
Sung Ching Chiang,
Ben Chuan Chen
22-30 College Point Boulevard14 $14,800,800
Tszho Cheung,
Tszleong Cheung
132-18 41st Road10 $6,516,000

Source: TRData analysis of NYC Dept. of Finance sales in new development projects in June