NEW DEVELOPMENT CONDO REPORT
MANHATTAN
- Inventory contracted as developers filed fewer units than were purchased
- Developers filed one plan with 22 units
- The state approved four plans with 143 units valued at $294 million
- Buyers purchased 99 units valued at $783 million
SUPPLY
MANHATTAN NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Xinyuan Real Estaten& Kuafu Properties | 615 10th Avenue | $165,330,000 | 92 |
| Greystone Development | 164 West 74th Street | $60,560,000 | 14 |
| Level One Holdings | 10 Lenox Avenue | $37,240,000 | 29 |
| Greystone Development | 108 Chambers Street | $30,450,000 | 8 |
Source: TRData analysis of plans approved to sell by NYS Attorney General in January
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Azimuth Development | 375 West 123rd Street | 22 | $44,009,000 |
Source: TRData analysis of plans submitted to the NYS Attorney General in January
DEMAND
MONTHLY TOTAL MANHATTAN
NEW DEVELOPMENT SALES VOLUME
MONTHLY MEDIAN SALES PRICE AND UNIT
VOLUME IN MANHATTAN NEW DEVELOPMENT
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Vornado Realty Trust | $239,958,219 | 220 Central Park South | 50 |
| Zeckendorf Development | $64,250,000 | 520 Park Avenue | DPH54 |
| Related Companies | $40,735,500 | 70 Vestry Street | PHN |
| Zeckendorf Development | $32,396,000 | 520 Park Avenue | PH48 |
Source: TRData analysis of NYS Attorney General and NYC Dept. of Finance records for units in condo projects that sold in January