Industry Report | The Real Deal New York

The Real Deal New York

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05/26/17
Rents fell in 14 of Manhattan’s 17 shopping corridors earlier this year, as retail landlords continue to look for a soft landing while asking rents slide from record highs. Read the full report here....
05/26/17
Retail rents in Manhattan’s 16 shopping corridors grew by 89 percent between 2010 and 2014. Since 2014, citywide, rents have decreased 21 percent but remain 50 percent higher than 2010. Read the full report here....
05/16/17
Office leasing activity was down in all Manhattan submarkets relative to the five-year monthly averages. Year-to-date, leasing activity in Downtown was up 78 percent, to 257,000 square feet. Read the full report here....
05/16/17
Lower Manhattan saw 1.8 million square feet of office space leased in the first quarter of 2017. TAMI tenants now make up 26 percent of the market, compared to 19 percent in 2016. Read the full report here....
04/07/17
More than a third of new development closings were south of 14th Street in the first quarter of 2017, and half were below 34th Street. Read the full report here....
04/07/17
Fulton Avenue replaced Bedford Avenue as the most valuable strip of retail in Brooklyn. Asking price per square foot in Downtown Brooklyn reached $365, surpassing the $361 per square foot in Williamsburg, which dipped from a peak of $373 last summer. Read the full report here....
04/07/17
The average sales price for residential units in the Financial District was down 12 percent to $1.1 million in the first quarter of 2017, relative to 2016, but median price was up 13 percent, indicating that more units were bought at lower price points. Read the full report here....
04/07/17
The average price for a residential condo in Manhattan increased 4 percent to $3 million in the first quarter of 2017, relative to 2016, while the median prices fell 10 percent to $1.7 million in the same period. Active listings are up across all metrics. Read the full report here....
04/07/17
The average price for a residential condo in Manhattan fell 6 percent to $3.4 million in March relative to the previous month, while the average price for new developments condos fell 5 percent to $5.4 million. Read the full report here....
03/29/17
Commercial real estate lending volume fell to $82 billion in 2016, down 17 percent from $99 billion year-over-year, with Deutsche Bank leading as most active lender. Read the full report here....
03/29/17
The dollar volume for single-family sales in East Harlem doubled in 2016 to $112 million from $56 million in 2015. Median home price and rental prices have increased 12 percent and 6 percent as the neighborhood prepares for a potential rezoning. Read the full report here....
03/29/17
In New York City, the features that have the highest correlation on higher rent prices are laundry in unit, a doorman and an elevator, followed by being pet-friendly and a fitness center in certain neighborhoods. Read the full report here....
03/29/17
The total for luxury sales in Manhattan in the first quarter of 2017 was $2.4 billion for 330 contracts, compared to $1.9 billion for 220 contracts in 2016. Read the full report <a href=”http://olshan.com/marketreport.php?id=359″ target=”_blank”>here</a>....
03/08/17
The average price of a co-op in Manhattan grew 15 percent in January relative to the previous year, while the average price for a condo slipped 19 percent. Read the full report here....
03/08/17
New development deals in the mid-market price range increased in 2016. In Manhattan, deals between $1 million and $3 million made up 45.4 percent of new contracts, a 21 percent increase from the previous year. Read the full report here....
03/08/17
There were 2,880 investment sale trades in the second half of 2016, a 1 percent decrease from 2015, and a total dollar volume of $26.8 billion. Read the full report here....
03/08/17
Commercial leasing took a breather in Lower Manhattan, but the restaurant scene flourished. Beyond that, more than 1,200 new condominium units entered the market, and 1,500 rental units are expected in 2017. Read the full report here....
03/08/17
The average sales price for condos and co-ops in remained flat between November and December, coming in at $2.3 million. Read the full report here....
Douglas Elliman rental report
12/09/16
Landlord concessions set a new record as net effective median rent slipped year over year for the fourth consecutive month. The market share of concessions reached a record 25.1% share of all new rentals, nearly double the 13.5% market share of the same period a year ago. Read the full report here. (Source: Douglas Elliman)...
Small Business Services
06/01/16
New York City’s 72 business improvement districts spent a collective $127 million in 2015. The Downtown Alliance, which represents Lower Manhattan, spent more than any other BID last year, with expenses totaling $20 million. Read the full report here.  ...
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