NEW DEVELOPMENT CONDO REPORT
BROOKLYN
- Inventory declined as sales outpaced new filings
- Developers filed 10 plans with 82 units
- The state approved eight plans with 46 units valued at $52 million
- Buyers purchased 112 units valued at $111 million
SUPPLY
BROOKLYN NEW DEVELOPMENT
CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED IN BROOKLYN
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Mortar ARCH + DEV | 91 Diamond Street | $14,275,000 | 10 |
| Level One Holdings | 496-498 Prospect Place | $8,275,000 | 6 |
| Elon Lebouvich | 537 Court Street (rehab) | $6,900,000 | 5 |
| Etrog Realty | 532 New York Avenue | $5,815,000 | 5 |
Source: TRData analysis of plans approved to sell by NYS Attorney General in January
LARGEST PROJECTS FILED IN BROOKLYN
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| M Development/Rafi Manor | 19 Hausman Street | 15 | $15,053,000 |
| Igor Nestor, Andrzej Soltys et al. | 60 92nd Street | 14 | $13,136,000 |
| Zaur Laven & Reuven Rothstein | 1702 Newkirk Avenue | 12 | $10,635,652 |
| Carlos Rosero | 187 18th Street (rehab) | 7 | $5,660,000 |
Source: TRData analysis of plans submitted to the NYS Attorney General in January
DEMAND
BROOKLYN NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Toll Brothers | $4,700,000 | 130 Furman Street | S-406 |
| Toll Brothers | $3,040,000 | 90 Furman Street | N-415 |
| Kushner Companies | $2,560,102 | 184 Kent Avenue | C611 |
| Fortis Property Group | $2,550,000 | 100 Amity Street | 8 |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in January
QUEENS
- Inventory expanded as developers filed more units than were purchased
- Developers filed seven plans with 203 units
- The state approved one plan with 22 units valued at $13 million
- Buyers purchased 62 units valued at $45 million
SUPPLY
QUEENS NEW DEVELOPMENT
CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Ji Juan Lin | 144-56 Roosevelt Ave | $13,401,700 | 22 |
Source: TRData analysis of plans approved to sell by NYS Attorney General in January
LARGEST PROJECTS FILED IN QUEENS
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Pinnacle Group | 97-25 64th Avenue (conversion) | 108 | $61,019,251 |
| Kenny Liu | 41-14 27th Street | 32 | $28,827,800 |
| Sunlight Development | 136-20 Booth Memorial Avenue | 24 | $29,073,100 |
| Kingston Property | 90-31 171st Street | 12 | $5,345,000 |
Source: TRData analysis of plans submitted to the NYS Attorney General in January
DEMAND
QUEENS NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME
MOST EXPENSIVE CONDO UNIT SALES RECORDED
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Impex Builders | $1,573,196 | 21-10 44th Drive | 5C |
| PSRS Realty Group | $1,374,638 | 109-19 72nd Road | 7A |
| Impex Builders | $1,308,451 | 21-10 44th Drive | PHC |
| Ekstein Development Group | $1,295,929 | 25-21 43rd Avenue | 808 |
Source: TRData analysis of NYC Dept. of Finance sales in new development projects in January