NEW DEVELOPMENT CONDO REPORT
MANHATTAN
• Inventory expanded as developers filed more units than were purchased
• Developers filed five plans with a total of 300 units
• The state approved two plans with 21 units valued at $99 million
• Buyers purchased 86 units valued at $476 million
MANHATTAN NEW DEVELOPMENT CONDO
SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Ceruzzi Propertiesn& Kuafu Properties | 1289 Lexington Avenue | $92,120,000 | 13 |
| Almat Group | 2457 Frederick DouglassnBoulevard (rehab) | $6,850,000 | 8 |
Source: TRData analysis of plans approved to sell by NYS Attorney General in February
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Centurion Real EstatenPartners | 200-212 West 72nd Streetn(conversion) | 196 | $402,520,000 |
| SHVO & BLG Capital | 685 Fifth Avenue | 69 | N/A |
| KD Sagamore &nRanger Properties | 199-201 Chrystie Street | 14 | $95,970,000 |
| Saul Mazor & Alex Halimi | 231 East 123rd Street | 11 | $7,000,000 |
Source: TRData analysis of plans submitted to the NYS Attorney General in February
DEMAND
MONTHLY TOTAL MANHATTAN NEW DEVELOPMENT SALES VOLUME
MONTHLY MEDIAN SALES PRICE AND UNIT VOLUME IN MANHATTAN NEW DEVELOPMENT
MOST EXPENSIVE CONDO SPONSOR UNIT SALES RECORDED IN FEBRUARY
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Related Companies | $39,285,000 | 70 Vestry Street | 12S |
| Vornado Realty Trust | $33,500,000 | 220 Central Park South | 35A |
| Zeckendorf Development | $32,000,000 | 520 Park Avenue | PH51 |
| Macklowe Properties & CIM Group | $30,691,657 | 432 Park Avenue | 95 |