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03/23/17
From the March issue: An estimated 372 new Manhattan rental units landed their temporary certificates of occupancy in January, meaning tenants can begin moving in, according to a TRD analysis of Department of Buildings filings. In Brooklyn and Queens, a combined 672 new units received TCOs. Together, the two boroughs continue to outpace Manhattan when it comes to churning out...
03/21/17
From the March issue: Resales of Manhattan condominiums were going for a median price of $1.38 million at the end of January, up from $1.33 million during January of the previous year, a TRD analysis of recorded sales found. ...
03/20/17
From the March issue: Manhattan investment sales dipped slightly between December and January to $2.9 billion, but they remained higher than in any month since June, when buyers recorded $5.8 billion in commercial building sales, an analysis by The Real Deal of New York City property records showed....
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02/28/17
From the February issue: There were 80 new Manhattan condo apartments approved for sale by the New York State Attorney General’s office in December — below 2016’s monthly average of 202 units, according to an analysis of offering plans by The Real Deal....
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02/27/17
From the February issue: Office leasing in Brooklyn and Queens slowed dramatically in the second half of the year, down more than 40 percent to 1.4 million square feet between July and December, compared with 2.4 million square feet between January and June....
02/24/17
(Illustration by Lexi Pilgrim) In 2015, Corcoran Sunshine, Manhattan’s top new development marketing firm, was awash in new business. That year, its brokers picked up an unprecedented $10 billion-plus in new condominium product, including some of New York’s glitziest projects. Its closest rival, Douglas Elliman, also scored big, picking up about $6 billion of exclusive listings. But as the luxury condo...
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02/23/17
From the February issue: Manhattan investment sales picked up in December 2016 to $4.2 billion , a 125 percent increase over the prior month, but still down more than 60 percent from December 2015....
02/22/17
According to the most recent market reports, Manhattan co-ops were popular in January, new development deals in the mid-market price range increased in 2016, and rental prices in Manhattan, Brooklyn, and Queens stayed basically flat in January....
02/22/17
From the February issue: The median resale price of a Manhattan condominium stood at almost $1.5 million in December 2016, up from the previous month but down from $1.6 million a year earlier, based on closed sales in city records....
02/20/17
Homebuyers in Brooklyn are snapping up condominiums faster than developers are filing for new ones. In 2016, the number of new residential condo units planned for the borough fell to 1,848, a 34 percent decrease relative to 2015, while the number of condo sales increased each quarter. In January, keeping with the trend, there were 13 condo offerings with a...
01/26/17
According to this week’s market reports, FiDi saw the city’s greatest rent increase in 2016, Dumbo and South Brooklyn led the borough in office leasing, comprising 60 percent of the 1.2 million square feet leased in Kings County, and office rents above $100 per square feet made up 9 percent of the 24 million square feet leased in Midtown....
12/30/16
UPDATED, 2:00 p.m., Jan. 3: What a difference a year makes. In 2015, seven Manhattan condominium plans projecting total sellouts north of $1 billion were accepted by the New York State Attorney General’s Office. But this year, only one Manhattan project crossed the billion-dollar mark, and developers abandoned several condo projects with projected sellouts north of $100 million....
12/29/16
The most prolific architects in New York City also tend to be the least visible. These are the firms that are often involved in development projects from the very beginning, filing necessary paperwork with the city’s Department of Buildings and navigating the labyrinth that is the city’s zoning codes. These are the architects of record, who sometimes pair up with...
12/29/16
Manhattan skyscrapers remain the ultimate savings account for the global investment community. Whether the lower end of the investment sales market is hot or not, trophy towers generally see a flurry of big-ticket deals. From that perspective, 2016 was no exception, though there were fewer billion-dollar deals and the emphasis was on partial-stake sales....
12/28/16
A converted Williamsburg warehouse that was once the base of operations for a prominent bourbon distributor was the priciest condominium filing approved by the New York Attorney General’s Office in 2016....
12/27/16
UPDATED, Dec. 28, 4:50 p.m.: Manhattan’s real estate finance industry had a rough start to 2016, as global bond-market turmoil brought CMBS lending to a virtual halt. But markets calmed starting in March, and commercial real estate lending returned with a vengeance. Interest rates were at historical lows throughout much of 2016, and property valuations were still high, creating an...
12/27/16
UPDATED, 11:30 a.m., Dec. 28: The Manhattan retail market had a rough-and-tumble 2016, but still emerged with some pricey deals, particularly along Upper Fifth Avenue. Six of the top 10 most valuable retail leases were signed on Fifth Avenue, according to a review of data by The Real Deal. And the top two were both sporting brands. ...
12/22/16
From the December issue: Through the month of October, the total dollar volume of recorded Manhattan condo sales sat at the highest point of any of the last five years, an analysis by The Real Deal of public sales data found. In the first 10 months of 2016 there was $14.82 billion in condo transactions, up 26 percent from the...
12/21/16
The real estate tech industry in 2016 could be summed up in one phrase: the big kids took over the playground Though there was a drop in the number of new startups and many fledgling companies struggled to secure financing, the established firms scored big money from investors and took steps to cement their market dominance. No, the post-2012 crop of startups...
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