2015 Year End MultiFamily Real Estate Market Report for Bedford Stuyvesant Brooklyn

BedfordStuyvesantReportBedfordStuyvesant4THQUARTER2015inBedfordStuyvesant,Brooklyn

4THQUARTER2015

Bedford Stuyvesant Report Aquarterlyanalysisofmultifamilysales

inBedfordStuyvesant,Brooklyn

Page 2

Brooklyn Year 2015BedfordStuyvesan Quarter 4

89 $300K

$186M 317$

Borough

Neighborhood

MultifamilyMarketReport,Q42015BedfordStuyvesant,Brooklyn

SALES VOLUME NO. OF TRANSACTIONS AVERAGE PRICE/UNIT AVERAGE PRICE/SQ. FT.

33% Y-o-Y -11% Y-o-Y 15% Y-o-Y 6% Y-o-Y

89 $317 $186M $300K

SUMMARY

COMMUNITY DISTRICT BOUNDARIES

Arron JohnsonP:(917) 374-2980

[email protected]

Page 3

QuarterQ1Q2Q3Q4

QuarterQ1Q2Q3Q4

QuarterQ1Q2Q3Q4

2013 2014 2015431 587 462618 548 1,013636 887 340639 535 619

2013 2014 201596 118 96131 116 165127 137 73115 105 94

2013 2014 201595 116 93131 112 96122 103 69112 100 89

93 96

6989

020406080100120140

Q1 Q2 Q3 Q4

2013 2014 2015

AverageSalePriceperUnit

NumberofUnitsSold

NumberofTransactions

NumberofBuildingsSold

96

165

7394

0

50

100

150

200

Q1 Q2 Q3 Q42013 2014 2015

462

1,013

340

619

0

200

400

600

800

1,000

1,200

Q1 Q2 Q3 Q4

2013 2014 2015

SalesVolume

$57M $58M $57M

$96M$69M

$116M $123M$141M $142M

$113M

$165M$140M

$121M $133M$101M

$186M

$M$20M$40M$60M$80M$100M$120M$140M$160M$180M$200M

TotalSq.Ft.

356K536K

376K

794K

430K587K 583K

688K 605K511K

787K

468K 387K

953K

312K

585K

0

200K

400K

600K

800K

1,000K

1,200K

$300K

0$50K$100K$150K$200K$250K$300K$350K

MULTIFAMILY STATS

Page 4

Price Y-o-Y Price Y-o-Y

Small Small $313,761 22% $318 11% $115,777,854 81 84 369 89.4%

Medium Medium $279,244 2% $316 -9% $69,811,083 8 10 250 10.6%

Large n/a n/a n/a n/a n/a n/a n/a n/aSmall(upto10units),Medium(between10and50units),Large(morethan50units)

No.ofunits

363,620221,231

n/a

Averagepriceperunit Averagepricepersq.ft.Salesvolume TotalSq.Ft. No.ofsales

No.ofbuildingsMultifamilysize

$317

$0$50$100$150$200$250$300$350$400

Average PriceperSquareFoot

MULTIFAMILY SIZE

SizeofMultifamily PropertiesSold

NumberofSoldBuildingsbySize

Medium10.6%

Small89.4%

Page 5

99

1 192SpencerSt 05-Nov-15 $22,620,000 Mediummultifamily 47 $481,277 47,126 $480 No2 175-183SpencerSt 05-Nov-15 $16,380,000 Mediummultifamily 35 $468,000 33,234 $493 No

3 166DecaturSt 15-Oct-15 $15,000,000 Smallmultifamily 4 $576,923 2,530 $647 Yes

4 456QuincySt 15-Oct-15 $15,000,000 Smallmultifamily 3 $576,923 3,300 $647 Yes

5 137MacDonoughSt 21-Oct-15 $10,000,000 Smallmultifamily 8 $333,333 9,500 $353 Yes

6 235MalcolmXBlvd 21-Oct-15 $10,000,000 Smallmultifamily 8 $333,333 6,760 $353 Yes

7 364BainbridgeSt 22-Oct-15 $9,000,000 Smallmultifamily 3 $529,412 2,268 $544 Yes

8 728DekalbAve 22-Dec-15 $7,600,000 Mediummultifamily 20 $223,529 16,095 $235 Yes

9 724DekalbAve 22-Dec-15 $7,600,000 Mediummultifamily 14 $223,529 16,312 $235 Yes

10 16VernonAve 07-Oct-15 $6,569,126 Mediummultifamily 20 $49,392 17,533 $50 Yes




14 29BrooklynAve 21-Oct-15 $5,900,000 Mediummultifamily 20 $295,000 15,440 $382 No

15 1050LafayetteAve 10-Nov-15 $5,500,000 Mediummultifamily 16 $343,750 13,552 $406 No

16 220-224KosciuszkoSt 23-Nov-15 $5,400,000 Mediummultifamily 16 $337,500 13,000 $415 No

17 29PatchenAve 07-Oct-15 $4,611,083 Mediummultifamily 32 $65,873 37,500 $76 Yes

18 784-790MarcyAve 07-Oct-15 $4,611,083 Mediummultifamily 38 $65,873 22,880 $76 Yes

19 475TompkinsAve 07-Oct-15 $4,175,000 Smallmultifamily 8 $521,875 12,630 $331 No

20 50MacDonoughSt 28-Oct-15 $3,500,000 Smallmultifamily 8 $437,500 15,520 $226 No

21 1MacDonoughSt 04-Dec-15 $3,500,000 Smallmultifamily 8 $437,500 10,260 $341 No

22 88LexingtonAve 21-Oct-15 $3,000,000 Smallmultifamily 4 $750,000 7,152 $419 No

23 970GreeneAve 16-Nov-15 $2,810,000 Smallmultifamily 8 $351,250 8,453 $332 No

24 199MalcolmXBlvd 28-Dec-15 $2,580,000 Smallmultifamily 5 $516,000 4,680 $551 No25 144MacDonoughSt 01-Oct-15 $2,250,000 Smallmultifamily 8 $281,250 6,480 $347 No

26 420JeffersonAve 06-Oct-15 $2,200,000 Smallmultifamily 4 $550,000 2,430 $905 No

27 47JeffersonAve 16-Dec-15 $2,150,000 Smallmultifamily 4 $537,500 2,400 $896 No

28 66PatchenAve 08-Dec-15 $2,095,000 Smallmultifamily 8 $261,875 8,800 $238 No

29 679HalseySt 23-Oct-15 $2,025,000 Smallmultifamily 6 $337,500 6,075 $333 No

30 546LafayetteAve 13-Oct-15 $2,000,000 Smallmultifamily 3 $666,667 3,243 $617 No

31 444ParkAve 21-Oct-15 $2,000,000 Smallmultifamily 6 $333,333 4,380 $457 No

32 552GatesAve 10-Nov-15 $2,000,000 Smallmultifamily 8 $250,000 8,302 $241 No

33 584MadisonSt 19-Oct-15 $1,930,000 Smallmultifamily 3 $643,333 3,600 $536 No

34 571GreeneAve 17-Dec-15 $1,830,000 Smallmultifamily 3 $610,000 4,507 $406 No

35 102PatchenAve 02-Dec-15 $1,825,000 Smallmultifamily 6 $304,167 4,662 $391 No

36 241MarcusGarveyBlvd 23-Dec-15 $1,800,000 Smallmultifamily 4 $450,000 4,720 $381 Yes

37 1065LafayetteAve 25-Nov-15 $1,800,000 Mediummultifamily 12 $150,000 6,092 $295 No

38 839GreeneAve 31-Dec-15 $1,735,000 Smallmultifamily 3 $578,333 3,600 $482 No

39 686PutnamAve 07-Dec-15 $1,705,000 Smallmultifamily 3 $568,333 3,440 $496 No

40 387GatesAve 07-Oct-15 $1,700,000 Smallmultifamily 3 $566,667 2,160 $787 No

41 241BainbridgeSt 04-Dec-15 $1,650,000 Smallmultifamily 6 $275,000 6,160 $268 No

42 291NostrandAve 28-Oct-15 $1,600,000 Smallmultifamily 4 $400,000 4,620 $346 No

43 606MadisonSt 02-Dec-15 $1,600,000 Smallmultifamily 4 $400,000 2,607 $614 No

44 437FranklinAve 10-Nov-15 $1,500,000 Smallmultifamily 4 $375,000 4,300 $349 No

45 164MaconSt 20-Nov-15 $1,450,000 Smallmultifamily 3 $483,333 3,760 $386 No

46 183ChaunceySt 31-Dec-15 $1,400,000 Smallmultifamily 3 $466,667 5,400 $259 No

47 1036DekalbAve 10-Nov-15 $1,375,000 Smallmultifamily 3 $458,333 2,620 $525 No

48 280MarionSt 16-Dec-15 $1,349,000 Smallmultifamily 3 $449,667 3,200 $422 No

49 14MaconSt 08-Oct-15 $1,300,000 Smallmultifamily 3 $433,333 3,189 $408 No

50 9MarcusGarveyBlvd 02-Dec-15 $1,300,000 Smallmultifamily 6 $216,667 3,375 $385 No

51 141MadisonSt 03-Nov-15 $1,300,000 Smallmultifamily 3 $433,333 3,200 $406 No

52 411ChaunceySt 16-Oct-15 $1,281,883 Smallmultifamily 6 $213,647 5,460 $235 No

53 994Broadway 13-Oct-15 $1,250,000 Smallmultifamily 3 $416,667 4,620 $271 No

54 530MonroeSt 30-Nov-15 $1,250,000 Smallmultifamily 4 $312,500 2,000 $625 No

55 473KosciuszkoSt 22-Dec-15 $1,250,000 Smallmultifamily 4 $312,500 2,430 $514 No

56 24HartSt 05-Nov-15 $1,250,000 Smallmultifamily 3 $416,667 3,192 $392 No

57 471PutnamAve 28-Oct-15 $1,230,000 Smallmultifamily 4 $307,500 3,760 $327 No

58 22PatchenAve 23-Oct-15 $1,200,000 Smallmultifamily 4 $300,000 2,800 $429 No

59 251KosciuszkoSt 03-Nov-15 $1,167,000 Smallmultifamily 3 $389,000 3,000 $389 No

60 22MacDonoughSt 23-Oct-15 $1,125,000 Smallmultifamily 4 $281,250 6,110 $184 No

61 825PutnamAve 21-Oct-15 $1,100,000 Smallmultifamily 3 $366,667 3,360 $327 No

Address Saledate Saleprice Units Priceperunit Sq.Ft. PriceperSq.Ft.Packagedeal

Propertytype

LIST OF TRANSACTIONS

Page 6

62 385ChaunceySt 30-Nov-15 $1,100,000 Smallmultifamily 6 $183,333 5,460 $201 No63 256MarcusGarveyBlvd 18-Dec-15 $1,100,000 Smallmultifamily 7 $157,143 4,056 $271 No

64 158HalseySt 04-Dec-15 $1,100,000 Smallmultifamily 4 $275,000 2,580 $426 No

65 546HancockSt 09-Oct-15 $1,050,000 Smallmultifamily 3 $350,000 2,800 $375 No

66 43HalseySt 23-Dec-15 $1,050,000 Smallmultifamily 4 $262,500 4,000 $263 No

67 489HalseySt 10-Dec-15 $995,000 Smallmultifamily 3 $331,667 2,728 $365 No

68 818LafayetteAve 17-Dec-15 $975,000 Smallmultifamily 3 $325,000 3,360 $290 No

69 68HalseySt 20-Oct-15 $975,000 Smallmultifamily 4 $243,750 3,360 $290 No

70 275SkillmanSt 11-Nov-15 $970,000 Smallmultifamily 5 $194,000 3,124 $310 No

71 529MarcyAve 16-Oct-15 $967,698 Smallmultifamily 5 $193,540 4,500 $215 No

72 453PutnamAve 28-Oct-15 $965,000 Smallmultifamily 3 $321,667 3,860 $250 No

73 693QuincySt 14-Dec-15 $900,000 Smallmultifamily 3 $300,000 3,200 $281 No

74 588QuincySt 19-Nov-15 $900,000 Smallmultifamily 6 $150,000 4,116 $219 No

75 577MadisonSt 04-Dec-15 $900,000 Smallmultifamily 3 $300,000 2,700 $333 No

76 712LexingtonAve 13-Nov-15 $890,000 Smallmultifamily 3 $296,667 2,868 $310 No

77 260MarcusGarveyBlvd 16-Oct-15 $888,656 Smallmultifamily 4 $222,164 4,056 $219 No

78 521MacDonoughSt 03-Nov-15 $871,415 Smallmultifamily 3 $290,472 2,328 $374 No

79 32VernonAve 23-Oct-15 $860,000 Smallmultifamily 3 $286,667 2,052 $419 No

80 813HalseySt 13-Oct-15 $855,000 Smallmultifamily 3 $285,000 2,499 $342 No

81 135DecaturSt 28-Oct-15 $850,000 Smallmultifamily 3 $283,333 3,600 $236 No

82 896GatesAve 28-Dec-15 $830,000 Smallmultifamily 4 $207,500 2,800 $296 No

83 797QuincySt 30-Nov-15 $825,000 Smallmultifamily 4 $206,250 2,268 $364 No

84 124PulaskiSt 16-Oct-15 $808,000 Smallmultifamily 3 $269,333 3,080 $262 No

85 14StAndrewsPl 17-Nov-15 $800,000 Smallmultifamily 3 $266,667 3,240 $247 No86 351AQuincySt 10-Dec-15 $700,000 Smallmultifamily 3 $233,333 3,004 $233 No

87 210MalcolmXBlvd 18-Nov-15 $699,000 Smallmultifamily 3 $233,000 3,600 $194 No

88 70HerkimerSt 09-Nov-15 $650,000 Smallmultifamily 4 $162,500 6,400 $102 No

89 346QuincySt 22-Dec-15 $625,000 Smallmultifamily 3 $208,333 2,499 $250 No

90 684MadisonSt 01-Oct-15 $575,000 Smallmultifamily 3 $191,667 2,400 $240 No

91 167TaaffePl 14-Dec-15 $520,000 Smallmultifamily 3 $173,333 3,920 $133 No

92 402JeffersonAve 17-Nov-15 $450,000 Smallmultifamily 3 $150,000 2,720 $165 No

93 326TompkinsAve 14-Oct-15 $450,000 Smallmultifamily 3 $150,000 3,600 $125 No

94 174ThroopAve 28-Oct-15 $400,000 Smallmultifamily 6 $66,667 3,750 $107 No

95 19PatchenAve 07-Oct-15 $394,310 Smallmultifamily 8 $49,289 6,500 $61 No

96 904MadisonSt 16-Dec-15 $350,000 Smallmultifamily 6 $58,333 2,900 $121 No

97 648MonroeSt 03-Nov-15 $285,893 Smallmultifamily 3 $95,298 2,565 $111 No

98 923AGatesAve 23-Oct-15 $265,000 Smallmultifamily 3 $88,333 3,120 $85 No

99 10SpencerPl 01-Oct-15 $250,000 Smallmultifamily 3 $83,333 3,040 $82 No

Saledate Saleprice Propertytype Units Priceperunit Sq.Ft. PriceperSq.Ft.Packagedeal

Address