NEW DEVELOPMENT CONDO REPORT
MANHATTAN
• Inventory contracted as developers filed fewer units than were purchased
• Developers filed six plans with a total of 164
• The state approved four plans with 151 units valued at $206 million
• Buyers purchased 216 units valued at $828 million
SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Nortco Development | 11 Hancock Place | $91,230,875 | 71 |
| Chen Foundation | 335 West 35th Street (rehab) | $90,855,000 | 71 |
| New Empire Real Estate | 424 West 52nd Street | $16,050,000 | 7 |
| Kenneth Handelman | 325 West 112th Street (rehab) | $8,000,000 | 2 |
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Minrav Development | 368 Third Avenue | 100 | $228,416,500 |
| Midwood Management Corp. | 150 East 78th Street | 25 | N/A |
| Einhorn Development Group | 124 West 16th Street | 14 | $85,300,000 |
| Levi Balkany | 441 West 37th Street | 9 | N/A |
MOST EXPENSIVE CONDO SPONSOR
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Minrav Development | 368 Third Avenue | 100 | $228,416,500 |
| Midwood Management Corp. | 150 East 78th Street | 25 | N/A |
| Einhorn Development Group | 124 West 16th Street | 14 | $85,300,000 |
| Levi Balkany | 441 West 37th Street | 9 | N/A |