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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel
The latest batch of reports found that nearly half of all Hamptons homes traded over $5 million in the third quarter and that Manhattan office leasing in the first three quarters outpaced a 10-year average.
Residential
Q3 2015 Hamptons residential sales: Douglas Elliman:
Hamptons homes priced over $5 million now account for 44.4 percent of all sales, a 9 percent increase from last year. Overall sales fell in the third quarter by 20 percent to 507. Read the full report here.
Q3 2015 Brooklyn residential sales: Brown Harris Stevens
Brooklyn apartments averaged a record sales price of $732,363 during the third quarter. Prices rose 17 percent from the previous quarter. Read the full report here.
Q3 2015 Manhattan residential sales: Brown Harris Stevens
The median sales price for Manhattan apartments hit a record of $995,000 in the third quarter, a 9 percent increase year-over-year. Read the full report here.
Manhattan luxury contracts Oct. 12- 18: Olshan Realty
The Manhattan luxury market had its strongest sales since July during the second week of October. Thirty-one contracts were signed for apartments over $4 million, including an apartment at 33 East 74th Street with an asking price of $45 million. Read the full report here.
Office
Q3 2015 Manhattan office leasing: Newmark Grubb Knight Frank
More than 26 million square feet of office space was leased in the first three quarters of the year, above the 10-year average of 25.8 million square feet. Asking rents rose above $70 per square foot for the first time since 2008. Read the full report here.
Q3 2015 Manhattan office leasing: ABS Partners
Rent for Class A and B office space averaged $61.17 per square foot in the third quarter, a 2.7 percent increase from the second quarter. The quarter closed with 109,847 square feet of positive absorption. Read the full report here.