According to the latest batch of New York City market reports, Manhattan had fewer closed residential sales in the second quarter, although new development deals picked up. Office leasing activity remained slow, and in the Financial District, residential sales prices took a hit last quarter. Check out more in our roundup of the week’s market reports.
Residential
Q2 2016 Financial District residential sales: Platinum Properties
The Financial District saw residential sales slowing in the second quarter of 2016. Prices were virtually unchanged year-over-year, but dropped 9.7 percent from the first quarter to $1.2 million by the end of second quarter. Read the full report here.
Q2 2016 new developments: Halstead Property Development Marketing
New condominium sales picked up in the second quarter in both Manhattan and Brooklyn. Downtown Manhattan continued to see the most activity and nearly 40 percent of all new listings in the borough were priced over $5 million. Read the full report here.
Q2 2016 Manhattan residential sales: Bond New York
Fewer deals closed in the second quarter compared to the first three months and year-over-year. The average price for a Manhattan home was $2.1 million, down less than 2 percent from the previous quarter. Read the full report here.
July 2016 Manhattan condo and co-op sales: CityRealty
The three most expensive sales in June were in 432 Park Avenue and new development prices were 3 percent higher last month compared to a year ago. Read the full report here.
Commercial
Q2 2016 Manhattan office leasing: Avison Young
Manhattan continued to see a slowdown in office leasing activity. Leasing volume totaled 5.6 million square feet in the last three months, compared to 7.8 million during the same period last year. Midtown had a modest rent increase, while rents in Midtown South and Downtown dropped over last quarter. Read the full report here.