MANHATTAN NEW DEVELOPMENT MARKET REPORT 2018 2ND … · 2018-07-18 · 20 soho 21 tribeca 22 upper east side 23 upper west side. page 3 manhattan new development market report 2q18

M A N H A T T A N N E W D E V E L O P M E N T M A R K E T R E P O R T

2 0 1 8 2 N D Q U A R T E R

P A G E 2

M A N H A T T A N N E W D E V E L O P M E N T M A R K E T R E P O R T | 2 Q 1 8 M N S . C O M

TA B L E O F C O N T E N T S

T A B L E O F C O N T E N T S

0 9 N E I G H B O R H O O D P R I C E T R E N D S

2 4 T H E R E P O R T E X P L A I N E D

0 3 I N T R O D U C T I O N0 4 M A R K E T S N A P S H O T

0 9 B A T T E R Y P A R K C I T Y1 0 C H E L S E A1 1 E A S T V I L L A G E1 2 F I N A N C I A L D I S T R I C T1 3 G R A M E R C Y P A R K 1 4 G R E E N W I C H V I L L A G E1 5 H A R L E M1 6 L O W E R E A S T S I D E1 7 M I D T O W N E A S T1 8 M I D T O W N W E S T1 9 M U R R A Y H I L L2 0 S O H O2 1 T R I B E C A2 2 U P P E R E A S T S I D E2 3 U P P E R W E S T S I D E

P A G E 3


I N T R O D U C T I O N

M N S I S P R O U D T O P R E S E N T T H E S E C O N D Q U A R T E R 2 0 1 8 E D I T I O N O F O U R N E W D E V E L O P M E N T M A R K E T R E P O R T .

N E W D E V E L O P M E N T S A L E S D A T A , D E F I N E D A S “ A R M S - L E N G T H ” F I R S T O F F E R I N G T R A N S A C T I O N S W H E R E T H E S E L L E R I S C O N S I D E R E D A “ S P O N S O R ” , W A S C O M P I L E D F R O M T H E A U T O M A T E D C I T Y R E G I S T E R I N F O R M A T I O N S Y S T E M ( A C R I S ) F O R S P O N S O R S A L E S T H A T T R A D E D D U R I N G T H E S E C O N D Q U A R T E R O F 2 0 1 8 ( 4 / 0 1 / 1 8 – 6 / 3 0 / 1 8 ) . A L L D A T A S U M M A R I Z E D I S O N A M E D I A N B A S I S .

P A G E 4


Q U A R T E R - O V E R -Q U A R T E R M E D I A N P P S F

3 . 4 %

Y E A R - O V E R - Y E A R M E D I A N P P S F

2 . 3 %

M A N H A T T A N N E W D E V E L O P M E N T S P O N S O R S A L E S

1 4 . 7 % F R O M L A S T Q U A R T E R

N E I G H B O R H O O D W I T H T H E M O S T N E W D E V S A L E S U P P E R E A S T S I D E - 1 6 . 6 7 %O F M A N H A T T A N N E W D E V S A L E S

T O T A L N E W D E V E L O P M E N T S A L E S V O L U M E

3 4 % T O $ 1 , 4 7 7 M I L L I O N F R O M $ 1 , 1 0 2 M I L L I O N I N 1 Q 1 8

Q U A R T E R -O V E R - Q U A R T E R M E D I A N S A L E S P R I C E

5 . 7 %

Y E A R - O V E R - Y E A R M E D I A N S A L E S P R I C E

1 7 . 9 %

M A R K E T S N A P S H O T


L A R G E S T Q U A R T E R L Y U P - S W I N G

F I N A N C I A L D I S T R I C TP P S F $ 2 , 4 9 7 / S F F R O M $ 1 , 6 1 2 / S F S A L E S P R I C E $ 3 , 9 2 5 , 0 0 0 F R O M $ 1 , 8 0 0 , 0 0 0

H I G H E S T N E W D E V E L O P M E N T S A L E P P S F4 4 3 G R E E N W I C H S T R E E T P H A , T R I B E C A – $ 6 , 0 5 4 . 7 3 P P S F

L A R G E S T Q U A R T E R L Y D O W N - S W I N G

M U R R A Y H I L LP P S F $ 1 , 2 5 9 F R O M $ 2 , 2 4 5S A L E S P R I C E $ 1 , 0 7 4 , 5 0 0 F R O M $ 5 , 8 5 7 , 4 3 8

H I G H E S T N E W D E V E L O P M E N T S A L E5 0 3 W E S T 2 4 T H S T R E E T P H , C H E L S E A – $ 5 9 , 0 5 8 , 5 0 0

Q U A R T E R - OV E R - Q U A R T E R , T H E TOTA L N U M B E R O F S P O N S O R S A L E S I N M A N H AT TA N I N C R E A S E D B Y 1 4 . 7 % , F R O M 2 7 2 S A L E S D U R I N G 1 Q 1 8 TO 3 1 2 D U R I N G 2 Q 1 8 . I N T H AT S A M E S P A N , TOTA L S A L E S VO L U M E I N C R E A S E D B Y 3 4 . 0 % , F R O M $ 1 , 1 0 2 , 1 1 9 , 5 8 1 TO $ 1 , 4 7 7 , 3 5 3 , 4 2 8 . T H E M E D I A N P R I C E P E R S Q U A R E F O OT I N C R E A S E D 3 . 4 % Q U A R T E R - OV E R - Q U A R T E R , F R O M $ 2 , 0 1 6 TO $ 2 , 0 8 6 . M E D I A N S A L E S P R I C E I N C R E A S E D B Y 5 . 7 % , F R O M $ 2 , 8 5 0 , 0 0 0 TO $ 3 , 0 1 3 , 7 0 5 . Y E A R - OV E R -Y E A R , M E D I A L P R I C E P E R S Q U A R E F O OT I S D O W N 2 . 3 % F R O M $ 2 , 1 3 5 D U R I N G 2 Q 1 7 TO $ 2 , 0 8 6 D U R I N G 2 Q 1 8 . M E D I A N S A L E S P R I C E I S D O W N 1 7 . 9 % Y E A R - OV E R - Y E A R , F R O M $ 3 , 6 6 8 , 7 5 5 D U R I N G 2 Q 1 7 TO $ 3 , 0 1 3 , 7 0 5 D U R I N G 2 Q 1 8 .

T H I S P A S T Q U A R T E R , T H E U P P E R E A S T S I D E H A D T H E H I G H E S T N U M B E R O F S P O N S O R S A L E S I N A L L T R A C K E D M A N H AT TA N N E I G H B O R H O O D S , W I T H 1 6 . 7 % O F TOTA L S A L E S , W H I C H T R A N S L AT E S TO 5 2 O U T O F 3 1 2 TOTA L S A L E S . T H E N E X T H I G H E S T N U M B E R O F S A L E S O C C U R R E D W I T H I N T H E U P P E R W E S T S I D E , W H I C H R E P R E S E N T E D 1 4 . 4 % O F TOTA L S A L E S , O R 4 5 O U T O F 3 1 2 S A L E S .

T H I S P A S T Q U A R T E R , T H E S P O N S O R S A L E W I T H T H E H I G H E S T P R I C E P A I D P E R S Q U A R E F O OT WA S AT 4 4 3 G R E E N W I C H S T R E E T, W H E R E T H E U N I T P H A S O L D F O R $ 4 3 , 7 8 7 , 8 0 5 , O R $ 6 , 0 5 4 . 7 3 P E R S Q U A R E F O OT. T H E S P O N S O R S A L E W I T H T H E H I G H E S T S A L E S P R I C E P A I D WA S AT 5 0 3 W E S T 2 4 T H S T R E E T, W H E R E T H E P E N T H O U S E U N I T S O L D F O R

$ 5 9 , 0 5 8 , 5 0 0 , O R $ 5 , 8 2 6 . 0 3 P E R S Q U A R E F O OT.

M A R K E T S U M M A R Y

P A G E 5



T H E L A R G E S T Q U A R T E R L Y U P S W I N G W A S O B S E R V E D I N T H E F I N A N C I A L D I S T R I C T , W H E R E

T H E M E D I A N P R I C E P E R S Q U A R E F O O T I N C R E A S E D B Y 5 4 . 9 % , F R O M $ 1 , 6 1 2 T O $ 2 , 4 9 7 .

A D D I T I O N A L L Y , T H E M E D I A N S A L E S P R I C E I N T H E F I N A N C I A L D I S T R I C T I N C R E A S E D B Y

1 1 8 . 1 % , F R O M $ 1 , 8 0 0 , 0 0 0 T O $ 3 , 9 2 5 , 0 0 0 .

S I M I L A R T O T H E P R E V I O U S Q U A R T E R , M O S T M A N H A T T A N N E I G H B O R H O O D S E X P E R I E N C E D

T H E L A R G E S T Q U A R T E R L Y D O W N S W I N G W A S O B S E R V E D I N M U R R A Y H I L L , W H E R E T H E

M E D I A N P R I C E P E R S Q U A R E F E L L B Y 4 3 . 9 % , F R O M $ 2 , 2 4 5 T O $ 1 , 2 5 9 . A D D I T I O N A L L Y , T H E

M E D I A N S A L E S P R I C E I N M U R R A Y H I L L F E L L B Y 8 1 . 7 % , F R O M $ 5 , 8 5 7 , 4 3 8 T O $ 1 , 0 7 4 , 5 0 0 .

O U T O F T H E 3 1 2 T O T A L S P O N S O R U N I T S S O L D I N M A N H A T T A N D U R I N G 2 Q 1 8 , 1 % O R 3

W E R E S T U D I O S , 2 9 % O R 8 9 W E R E O N E - B E D R O O M S , 3 3 % O R 1 0 4 W E R E T W O - B E D R O O M S , A N D

3 7 % O R 1 1 6 W E R E T H R E E - B E D R O O M S O R L A R G E R .

T H E N E I G H B O R H O O D S T H A T S O L D T H E M O S T A M O U N T O F 2 Q 1 8 N E W D E V E L O P M E N T

I N V E N T O R Y P E R U N I T S I Z E :

M A R K E T U P - S W I N G S

M A R K E T D O W N - S W I N G S

M A R K E T T R E N D S

3 3 %

2 2 . 1 %

2 5 . 8 %

2 0 . 7 %

S T U D I O SU W S , U E S ,

M I D T O W N W E S T

O N E B E D R O O M SG R A M E R C Y P A R K

T W O B E D R O O M SU P P E R E A S T

S I D E

1 , 5 0 0 + S FU P P E R W E S T

S I D E

P A G E 6



2 Q 1 8 M E D I A N P R I C E P E R S Q U A R E F O O T ( P P S F ) B Y N E I G H B O R H O O D

2 Q 1 8 M E D I A N S A L E S P R I C E B Y N E I G H B O R H O O D

$1

,96

9

$2

,24

9

$3

,19

0,0

13

$2

,21

5$

2,8

50

,00

0

$2

,02

9$

1,5

20

,95

2

$2

,49

7

$1

,76

5

$2

,08

7

$3

,92

5,0

00

$1

,27

2,8

13

UP

PE

R W

ES

T S

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UP

PE

R W

ES

T S

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HA

RL

EM

HA

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UP

PE

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AS

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UP

PE

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MI D

TO

WN

WE

ST

MI D

TO

WN

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ST

MI D

TO

WN

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TO

WN

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ST

MU

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AY

HI L

L

MU

RR

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HI L

LC

HE

LS

EA

CH

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SE

A

GR

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CY

PA

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GR

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CY

PA

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NW

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GE

GR

EE

NW

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GE

EA

ST

VI L

LA

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EA

ST

VI L

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GE

SO

HO

SO

HO

LO

WE

R E

AS

T S

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LO

WE

R E

AS

T S

I DE

TR

I BE

CA

TR

I BE

CA

FI N

AN

TI A

L D

I ST

RI C

T

FI N

AN

TI A

L D

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RI C

T

BA

TT

ER

Y P

AR

K C

I TY

BA

TT

ER

Y P

AR

K C

I TY

$2

,90

1$

7,8

00

,50

0

$2

,99

7

N/A

$6

,50

0,1

88

$2

,54

8,0

41

N/A

$2

,93

3$

5,4

47

,63

8

$2

,14

3$

3,7

49

,70

6

$1

,25

9$

1,0

74

,50

0

$4

,46

2,9

35

$2

,17

3$

4,9

00

,00

0

$8

25

$4

79

,50

0

P A G E 7



2 Q 1 8 % O F T O T A L S P O N S O R S A L E S - B O R O U G H - W I D E

N U M B E R O F U N I T S S O L D I N 2 Q 1 8

16

.67

%5

2

9.2

9%

29

3.8

5%

12

10

.26

%3

2

11

.54

%3

6

2.2

4%

7

21

UP

PE

R W

ES

T S

I DE

UP

PE

R W

ES

T S

I DE

HA

RL

EM

HA

RL

EM

UP

PE

R E

AS

T S

I DE

UP

PE

R E

AS

T S

I DE

MI D

TO

WN

WE

ST

MI D

TO

WN

WE

ST

MI D

TO

WN

EA

ST

MI D

TO

WN

EA

ST

MU

RR

AY

HI L

L

MU

RR

AY

HI L

LC

HE

LS

EA

CH

EL

SE

A

GR

AM

ER

CY

PA

RK

GR

AM

ER

CY

PA

RK

GR

EE

NW

I CH

VI L

LA

GE

GR

EE

NW

I CH

VI L

LA

GE

EA

ST

VI L

LA

GE

EA

ST

VI L

LA

GE

SO

HO

SO

HO

LO

WE

R E

AS

T S

I DE

LO

WE

R E

AS

T S

I DE

TR

I BE

CA

TR

I BE

CA

FI N

AN

TI A

L D

I ST

RI C

T

FI N

AN

TI A

L D

I ST

RI C

T

BA

TT

ER

Y P

AR

K C

I TY

BA

TT

ER

Y P

AR

K C

I TY

6.7

3%

4.8

1%

21

15

0.6

4%

6.7

3%

2

0%

N/A

8.0

1%

25

2.8

8%

9

14

.42

%4

5

1.9

2%

6

P A G E 8


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18

M A N H A T T A N

M A N H A T T A N Q U A R T E R L Y T R A C K I N G

M E D I A N P R I C EM E D I A N P P S F

P P S F P R I C E

M E D I A N P P S F

M E D I A N S A L E S P R I C E

S T U D I O S 1 %1 B E D R O O M S 2 9 %2 B E D R O O M S 3 3 %3 B E D R O O M S 3 7 %

$ 2 , 0 8 6

$ 3 , 0 1 3 , 7 0 5

2 Q 1 8 U N I T M I X O F N E W D E V E L O P M E N T

E X C L U D I N G H A R L E M M E D I A N P P S F I S $ 1 , 9 8 8

E X C L U D I N G H A R L E MM E D I A N S A L E S P R I C E I S $ 2 , 8 9 5 , 8 3 0

P A G E 9


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500


B A T T E R Y P A R K C I T Y

B A T T E R Y P A R K C I T Y P P S F % O F S A L E S W I T H I N B A T T E R Y P A R K


B A T T E R Y P A R K C I T Y Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S N / A1 B E D R O O M S N / A2 B E D R O O M S N / A3 B E D R O O M S N / A

S T U D I O S N / A1 B E D R O O M S N / A2 B E D R O O M S N / A3 B E D R O O M S N / A

N / A M E D I A N

P A G E 1 0


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 1Q18 2Q18

C H E L S E A

C H E L S E A P P S F % O F S A L E S W I T H I N C H E L S E A


C H E L S E A Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S N / A1 B E D R O O M S $ 1 , 9 6 02 B E D R O O M S $ 1 , 9 2 13 B E D R O O M S $ 2 , 5 3 4


$ 2 , 1 4 3 / S F M E D I A N

P A G E 1 1


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500


E A S T V I L L A G E

E A S T V I L L A G E P P S F % O F S A L E S W I T H I N E A S T V I L L A G E


E A S T V I L L A G E Q U A R T E R L Y T R A C K I N G

P P S F P R I C E



$ 2 , 0 8 7 / S F M E D I A N

P A G E 1 2


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000


F I N A N C I A L D I S T R I C T

F I N A N C I A L D I S T R I C T P P S F % O F S A L E S W I T H I N F D


F I N A N C I A L D I S T R I C T Q U A R T E R L Y T R A C K I N G

P P S F P R I C E



$ 2 , 4 9 7 / S F M E D I A N

P A G E 1 3


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 1Q18 2Q18

G R A M E R C Y P A R K

G R A M E R C Y P A R K P P S F % O F S A L E S W I T H I N G R A M E R C Y


G R A M E R C Y P A R K Q U A R T E R L Y T R A C K I N G

P P S F P R I C E



$ 2 , 0 2 9 / S F M E D I A N

P A G E 1 4


$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000


G R E E N W I C H V I L L A G E

G R E E N W I C H V I L L A G E P P S F % O F S A L E S W I T H I N G V


G R E E N W I C H V I L L A G E Q U A R T E R L Y T R A C K I N G

P P S F P R I C E



$ 2 , 9 3 3 / S F M E D I A N

P A G E 1 5


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400


H A R L E M

H A R L E M P P S F % O F S A L E S W I T H I N H A R L E M


H A R L E M Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S N / A1 B E D R O O M S $ 8 2 52 B E D R O O M S $ 3 7 23 B E D R O O M S $ 1 , 5 7 8


$ 8 2 5 / S F M E D I A N

P A G E 1 6


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000


L O W E R E A S T S I D E

L E S P P S F % O F S A L E S W I T H I N L E S


L E S Q U A R T E R L Y T R A C K I N G

P P S F P R I C E


S T U D I O S 0 %1 B E D R O O M S 8 0 %2 B E D R O O M S 7 %3 B E D R O O M S 1 3 %

$ 1 , 7 6 5 / S F M E D I A N

P A G E 1 7


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000


M I D T O W N E A S T

M I D T O W N E A S T P P S F % O F S A L E S W I T H I N M I D T O W N E A S T


M I D T O W N E A S T Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S N / A1 B E D R O O M S N / A2 B E D R O O M S $ 2 , 3 4 83 B E D R O O M S $ 2 , 2 4 6

S T U D I O S 0 %1 B E D R O O M S 0 %2 B E D R O O M S 8 %3 B E D R O O M S 9 2 %

$ 2 , 2 4 9 / S F M E D I A N

P A G E 1 8


$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500


M I D T O W N W E S T

M I D T O W N W E S T P P S F % O F S A L E S W I T H I N M I D T O W N W E S T


M I D T O W N W E S T Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S $ 1 , 3 0 41 B E D R O O M S $ 2 , 1 3 12 B E D R O O M S $ 1 , 9 6 03 B E D R O O M S $ 2 , 2 1 5


$ 2 , 2 1 5 / S F M E D I A N

P A G E 1 9


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500


M U R R A Y H I L L

M U R R A Y H I L L P P S F % O F S A L E S W I T H I N M U R R A Y H I L L


M U R R A Y H I L L Q U A R T E R L Y T R A C K I N G

P P S F P R I C E


S T U D I O S 0 %1 B E D R O O M S 5 6 %2 B E D R O O M S 4 1 %3 B E D R O O M S 3 %

$ 1 , 2 5 9 / S F M E D I A N

P A G E 2 0


$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500


S O H O

S O H O P P S F % O F S A L E S W I T H I N S O H O


S O H O Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S N / A1 B E D R O O M S N / A2 B E D R O O M S N / A3 B E D R O O M S $ 2 , 9 9 7

S T U D I O S 0 %1 B E D R O O M S 0 %2 B E D R O O M S 0 %3 B E D R O O M S 1 0 0 %

$ 2 , 9 9 7 / S F M E D I A N

P A G E 2 1


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$9,000,000

$10,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500


T R I B E C A

T R I B E C A P P S F % O F S A L E S W I T H I N T R I B E C A


T R I B E C A Q U A R T E R L Y T R A C K I N G

P P S F P R I C E

S T U D I O S N / A1 B E D R O O M S N / A2 B E D R O O M S $ 2 , 4 8 63 B E D R O O M S $ 2 , 9 8 5

S T U D I O S 0 %1 B E D R O O M S 0 %2 B E D R O O M S 2 4 %3 B E D R O O M S 7 6 %

$ 2 , 9 0 1 / S F M E D I A N

P A G E 2 2


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000


U P P E R E A S T S I D E

U E S P P S F % O F S A L E S W I T H I N U E S


U E S Q U A R T E R L Y T R A C K I N G

P P S F P R I C E



$ 1 , 9 6 9 / S F M E D I A N

P A G E 2 3


$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$-

$500

$1,000

$1,500

$2,000

$2,500


U P P E R W E S T S I D E

U W S P P S F % O F S A L E S W I T H I N U W S


U W S Q U A R T E R L Y T R A C K I N G

P P S F P R I C E



$ 2 , 1 7 3 / S F M E D I A N

P A G E 2 4


T H E R E P O R T E X P L A I N E D

C A N ’ T F I N D W H A T Y O U ’ R E L O O K I N G F O R ?

A S K M N S F O R M O R E I N F O R M A T I O N A T

W W W . M N S . C O M

C O N T A C T U S N O W : 7 1 8 . 2 2 2 . 0 2 1 1

N O T E : A L L M A R K E T D A T A I S C O L L E C T E D A N D

C O M P I L E D B Y M N S ’ M A R K E T I N G D E P A R T M E N T .

T H E I N F O R M A T I O N P R E S E N T E D H E R E I S I N T E N D E D

F O R I N S T R U C T I V E P U R P O S E S O N L Y A N D H A S B E E N

G A T H E R E D F R O M S O U R C E S D E E M E D R E L I A B L E ,

T H O U G H I T M A Y B E S U B J E C T T O E R R O R S ,

O M I S S I O N S , C H A N G E S O R W I T H D R A W A L W I T H O U T

N O T I C E .

I F Y O U W O U L D L I K E T O R E P U B L I S H T H I S R E P O R T

O N T H E W E B , P L E A S E B E S U R E T O S O U R C E I T A S

T H E “ M A N H A T T A N N E W D E V E L O P M E N T R E P O R T ”

W I T H A L I N K B A C K T O I T S O R I G I N A L L O C A T I O N

H T T P : / / W W W . M N S . C O M / M A N H A T T A N _ N E W _ D E V _

R E P O R T

I N C L U D E D I N T H I S R E S E A R C H A R E W A L K - U P A N D E L E V A T O R N E W D E V E L O P M E N T C O N D O M I N I U M B U I L D I N G S , A S W E L L A S N E W C O N V E R S I O N C O N D O M I N I U M S I F T H E S A L E S W E R E A P P L I C A B L E S P O N S O R T R A N S A C T I O N S . E X C L U D E D F R O M T H E R E P O R T A R E A L L C O O P E R A T I V E S A L E S .

U N I T T Y P E S S U C H A S S T U D I O S , O N E - B E D R O O M S ,

A N D T W O - B E D R O O M U N I T S A R E G R O U P E D B Y

S Q U A R E F O O T A G E R A N G E S . S T U D I O S A R E U N D E R

7 0 0 S Q U A R E F E E T , O N E - B E D R O O M S A R E U N D E R 9 0 0

S Q U A R E F E E T , A N D T W O - B E D R O O M S A R E U N D E R

1 , 4 5 0 S Q U A R E F E E T . A D D E D T O T H E R E P O R T I S

T H E O V E R - S I Z E D U N I T T Y P E T H A T R A N G E S F R O M

1 , 5 0 0 S Q U A R E F E E T T O 7 , 0 0 0 S Q U A R E F E E T .

P R E S E N T E D W I T H A Q U A R T E R - O V E R - Q U A R T E R

A N D Y E A R - O V E R - Y E A R C O M P A R I S O N , B O T H

C I T Y - W I D E A N D B Y N E I G H B O R H O O D , M N S N E W

D E V E L O P M E N T R E P O R T T M T R A C K S T H E M A R K E T

T R E N D S T H R O U G H O U T M A N H A T T A N A N D B R O O K L Y N .

M N S O F F E R S A U N I Q U E I N S I G H T I N T O T H E N E W

D E V E L O P M E N T M A R K E T B Y T R A C K I N G S T A L L E D

C O N S T R U C T I O N S I T E S O N A Q U A R T E R L Y B A S I S ,

A G R E A T I N D I C A T O R O F W H E R E D E V E L O P M E N T

I N G E N E R A L I S M O V I N G . M N S I S Y O U R S O U R C E

T O F I N D N E I G H B O R H O O D P R I C E P E R S Q U A R E

F O O T A N A L Y S I S , A V E R A G E S A L E P R I C E S , U N I T

T Y P E S A L E S T R E N D S , O V E R A L L P R I C E M O V E M E N T ,

N E I G H B O R H O O D I N V E N T O R Y C O M P A R I S O N S , A N D

A B S O R P T I O N R A T E S .

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MANHATTAN NEW DEVELOPMENT MARKET REPORT 2018 2ND … · 2018-07-18 · 20 soho 21 tribeca 22 upper east side 23 upper west side. page 3 manhattan new development market report 2q18