The Real Deal New York

Brooklyn and Manhattan 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
Manhattan
  • Inventory decreased for the first time in sixth months as the number of new units filed dropped sharply
  • Developers filed two plans with a total of 11 units
  • Three plans were approved for sale in June with 39 units and a total projected sellout of $216 million
  • Manhattan new development condo supply

Supply
 

Brooklyn new development condo supply

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

Most expensive condo projects approved
DEVELOPERADDRESSTOTAL SELOUTUNITS
Lightstone Group40 East End Avenue$198,868,710 29
Two Kings148 Attorney Street$12,070,0006
Andrew Horan102 West 118th Street$4,795,0004

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

 

Largest condo projects filed
DEVELOPERADDRESSRESI. UNITSTOTAL SELLOUT
Rudy Gabsi and Oded Norman534 West 29th Street$31,370,0006
Vinbaytel Developments192 Eighth Avenue$12,070,0005

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

 

Demand
Manhattan new development condo sales volume

Median sales price and unit volume

SQ. FTTENANTADDRESS
80,265 Manatt Phelps & Phillips7 Times Square
59,000Perkins Coie1155 Sixth Avenue
52,500Solomon Page Group260 Madison Avenue
49,000Mayer Brown1221 Sixth Avenue

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