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 Brooklyn’s new development inventory has been sold and multifamily dollar volume reached $1.7 billion in September.
November 2015 absorption: Brown Harris Stevens
Manhattan’s absorption rate fell slightly to 4.1 months in November. Midtown and Midtown East saw the sharpest absorption declines year-over-year as more new development sales closed. Read the full report here.
November 2015 Brooklyn new developments: Halstead Property Development Marketing
Nearly half of Brooklyn’s new development inventory is sold, and 550 apartments remain. Read the full report here.
Manhattan luxury contracts Nov. 9-15: Olshan Realty
Seventy contracts were signed during the first half of the month for luxury apartments priced $4 million and above in Manhattan, marking the strongest November start since 2006. Read the full report here.
September 2015 multifamily sales: Ariel Property Advisors
Multifamily sales in New York City totaled nearly $1.7 billion in September, a 97 percent jump in dollar volume from August. Read the full story here.
Q3 2015 retail leasing: Cushman & Wakefield
Asking Rents On Lower Fifth Avenue between 42nd and 49th streets are soaring. The area saw the strongest year-over-year growth during the third quarter, with asking rents up 14.3 percent to $1,244 per square foot. Read the full report here.
Q3 2015 office leasing: Cushman & Wakefield
Nearly 22 million square feet of office space was leased during the first three quarters of the year. Manhattan’s vacancy rate was steady at 8.9 percent in Q3 and the average asking rent rose to $71.02 per square foot. Read the full report here.