NEW DEVELOPMENT CONDO REPORT
MANHATTAN
Inventory increased as new filings outpaced sales
Developers filed three plans with a total of 243 units
The state approved five plans with 121 units valued at $785 million
Buyers purchased 119 units valued at $743 million
SUPPLY
MANHATTAN NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELL OUT | UNITS |
|---|---|---|---|
| Icon Realty | 301 East 80th Street | $528,175,000 | 72 |
| Icon Realty | 301 East 81st Street | $185,425,000 | 32 |
| Javeri Capital | 10 Greene Street | $32,495,000 | 4 |
| Barrett Design | 3 East 3rd Street | $31,400,000 | 5 |
Source: TRData analysis of plans approved to sell by NYS AG in December
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| CBSK Ironstate | 646 11th Avenue | 222 | N/A |
| Naftali Group | 1045 Madison Avenue | 17 | N/A |
| Steven Schnall & Howard Lev | 422 West 160th Street (rehab) | 4 | $3,656,000 |
Source: TRData analysis of plans submitted to the NYS AG in December
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 DECEMBER
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Zeckendorf Development | $67,921,053 | 520 Park Avenue | DPH56 |
| Related Companies | $56,010,250 | 70 Vestry Street | PHS |
| Macklowe Propertiesn& CIM Group | $30,191,920 | 432 Park Avenue | 95B |
| Zeckendorf Development | $30,000,000 | 520 Park Avenue | PH49 |
Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in December