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TRD Insights: This was the only condo plan filed last week
Lone project has a sellout of $6 million
Developers have largely halted filings for condo plans throughout the city since the governor extended the pandemic’s non-essential business orders through mid-May.
The five boroughs only had one condo plan filed last week at 577 5th Street in Park Slope. Gil Shenhav and Roy Girtz are to develop the row house into an eight-unit residential building.
NYC Condo Plan Filed Last Week
| Condo plan ID | Address | Borough | Sellout | Submitted Date | Resi units |
|---|---|---|---|---|---|
| CD200100 | 577 5th Street | Brooklyn | $6,000,000.00 | 04/06/2020 | 8 |
SOURCE: TRD analysis of AG records
The condo market isn’t the only scraping the bottom as the pandemic drags on. Last week, the mid-market investment sales market had just one sale — 55-59 Chrystie Street in Chinatown that went through a bankruptcy auction last year — for the second week in a row. Similarly, the luxury residential market has seen a 90 percent drop in Manhattan home sales over the past month.