NEW DEVELOPMENT CONDO REPORT MANHATTAN
• Inventory contracted as developers filed fewer units than were purchased
• Developers filed three plans with a total of 57 units
• The state approved five plans with 224 units valued at $801 million
• Buyers purchased 148 units valued at $542 million
SUPPLY
MANHATTAN NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| AvalonBay | 15 West 61st Street | $550,140,000 | 172 |
| United Managementn& Certes Partners | 212 West 95th Street | $137,821,470 | 38 |
| Edward J. MinskoffnEquities | 11 Jane Street | $95,975,000 | 6 |
| Vinbaytel PropertynDevelopment | 245 East 53rd Street | $10,640,000 | 5 |
Source: TRData analysis of plans approved to sell by the NYS Attorney General in March
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Metropolitan Homes | 127 West 112th Street | 25 | N/A |
| SK Development &nCB Developers | 214 West 72nd Street | 18 | N/A |
| ReGlobe | 2903 Frederick Douglass Boulevard | 14 | $7,784,350 |
Source: TRData analysis of plans submitted to the NYS Attorney General in March
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 MARCH
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Vornado Realty Trust | $23,419,750 | 220 Central Park South | 41A |
| Vornado Realty Trust | $22,503,325 | 220 Central Park South | 38A |
| Vornado Realty Trust | $22,197,850 | 220 Central Park South | 37A |
| Rudin Managementn& Global Holdings | $21,894,506 | 135 West 11th Street | 135 (townhouse) |
Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in March