mns.com
Manhattan New Dev. Market Report 2015 3rd Quarter
Manhattan New Development Report 3Q15
page 2
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
TA B L E O F C O N T E N T S
TABLE OF CONTENTS
09 Neighborhood Price Trends
24 The Report Explained
03 Introduction04 Market Snapshot
09 Battery Park City10 Chelsea11 East Village12 Financial District13 Gramercy Park 14 Greenwich Village15 Harlem16 Lower East Side17 Midtown East18 Midtown West19 Murray Hill20 SoHo21 TriBeCa22 Upper East Side23 Upper West Side
Manhattan New Development Report 3Q15
page 3
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
INTRODUCTIONMNS is proud to present the Third Quarter 2015 edition of our New Development Market Report.
New Development Sales data, defined as such “Arms-Length” first offering transactions where the seller is considered a “Sponsor”, was compiled from the Automated City Register Information System (ACRIS) for sponsor sales that traded during the Third Quarter of 2015 (06/01/15 – 09/30/15). All data summarized is on a median basis.
Manhattan New Development Report 3Q15
page 4
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
Quarter-Over-Quarter Median PPSF
11.1%
Year-Over-Year Median PPSF
1.4%
Manhattan New Development Sponsor Sales
58% from last quarterNeighborhood with the Most New Dev Sales
Upper East Side - 14% of Manhattan New Dev Sales
Total New Development Sales Volume
23% to $1,516,742,266 from $1,229,848,846 in 2Q15
Quarter-Over-Quarter Median Sales Price
3.2%
Year-Over-Year Median Sales Price
16.2%
MARKET SNAPSHOT
The number of New Development condominium sponsor sales increased by 58.4% this quarter - from 317 units sold in 2Q15 to 502 units sold
in 3Q15. Total sales volume increased by 23.33% from $1,229,848,846 in 2Q15 to $1,516,742,266 in 3Q15. Although we saw these increases,
median price per square foot and median prices declined by 11.08% (from $1,877 to $1,669) and 3.1% (from $1,950,000 to $1,888,309),
respectively. The following neighborhoods experienced the largest amount of sponsor sales this quarter, ranging from 40 to 70 ; Harlem,
Upper West Side, Upper East Side, Midtown East, Midtown West, Chelsea and Battery Park City.
The highest price per square foot sponsor sale was recorded at Extell’s One57 where the 4,000 square foot, Apt 67B, sold for $6,804.03 psf.
The highest priced sponsor sale was recorded at The Charles on the UES, where PH1 – an 11,747 square foot 12 bed, 12.5 bath apartment -
sold for $37,940,000.
Three Bedroom and larger sized units accounted for majority of this quarter’s sponsor sales, at 48% of the total 502 units closed. Overall, these
sponsor sale activities indicate a strong growth within New Development condominiums sector.
Market Snapshot
Market Summary
Largest Quarterly Up-Swing
TriBeCaPPSF $2,395/SF from $1,983/SF Sales Price $5,599,732 from $3,171,849
Highest New Development Sale PPSF
157 West 57th Street Apt 67B - $ 6,804 PPSF
Largest Quarterly Down-Swing
Midtown EastPPSF $1,763 from $2,511Sales Price $2,511,461 from $2,961,969
Highest New Development Sale
1355 First Ave PH1 – $37,940,000
Manhattan New Development Report 3Q15
page 5
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
MARKET SNAPSHOTTribeca saw the highest increase in price per square foot at 20.8% since the previous quarter – from $1,983 in 2Q15 to $2,395 in 3Q15.
Simultaneously, the median sales price grew at 76.5% from $3,171,849 to $5,599,732 this quarter. This large growth spurt was largely the result of
11 sponsor sales at the prestigious Sterling Mason on 71 Laight St, where the prices of their 3 bedroom units which closed ranged from $4million
to $10.1million. The largest shift in median price was seen in Greenwich Village, where we saw 3xThree Bedroom units sell at the exclusive loft-
style residences at 12 E 13th st, shifting prices from a median of $2.5Million in 2Q15 to $10.5Million in 3Q15.
The largest negative shift in median price per square foot was seen in Midtown East, moving from $2,511 psf in 2Q15 to $1,763 psf in 3Q15. This
shift was largely the result of the amount of closings almost doubling since last quarter; where 18 of the 25 sponsor sales where at 50 UN Plaza.
This quarter we saw 47 sponsor sales, where 38 were at the more moderate priced building at 305 E 51st st.
The largest negative shifts in median price were noted in Harlem, the UES and Soho. Harlem saw just over half of its sales this quarter at the newly
converted, and conservatively priced, building at 305 W 150th st where the median price was $386,841 The UES drop was largely contributed to
43 of its 70 sales coming from One and Two Bedroom units at 300 E 64th st. Last quarter we saw 30 of its 33 sales coming from Three Bedroom
units across various buildings. Finally, the dip in Soho prices was largely contributed to the 9 units at 199 Mott st closing this quarter, which had a
median price of just over $3million, compared to 3 units at 224 Mulberry st that closed last quarter with a median price of $11.2million.
Harlem, Upper East Side, Upper West side, Midtown West and Battery Park City neighborhoods accounted for just over 61% of this quarter’s inventory in Manhattan. The UES took the top position with 14% of the total inventory (70 Units). We also noticed a trend toward Three Bedroom+ units this quarter, where 240 of the 502 units were from this unit class
Tracking: Neighborhoods where the majority of each unit type was sold in 3Q15
Market Up-Swings
Market Down-Swings
Inventory Analysis
Highest New Development Sale PPSF
157 West 57th Street Apt 67B - $ 6,804 PPSF
52% 26% 20% 20%StudiosHarlem
One BedroomsMurray Hill
Two BedroomsUpper East Side
1,500 + SFUpper West Side
Manhattan New Development Report 3Q15
page 6
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
MARKET SNAPSHOT3Q15 Median Price per Square Foot (PPSF) By Neighborhood
3Q15 Median Sales Price By Neighborhood
$ 1,7
57
$ 1,7
63
$ 1,6
70,0
00
$ 1,6
06$ 1
,375
,000
$ 1,5
34$ 1
,781
,938
$ 1,4
88
$ 1,6
29
$ 1,6
67,3
85
$ 2,4
69,2
56
Upper
Wes
t Sid
e
Upper
Wes
t Sid
e
Harle
m
Harle
m
Upper
Eas
t Sid
e
Upper
Eas
t Sid
eM
idto
wn W
est
Mid
town
Wes
tM
idto
wn Ea
st
Mid
town
East
Mur
ray H
ill
Mur
ray H
illChe
lsea
Chelse
aG
ram
ercy
Par
k
Gra
mer
cy P
ark
Gre
enwich
Villa
ge
Gre
enwich
Villa
geEa
st V
illage
East
Villa
ge
SoHo
SoHo
Lower
Eas
t Sid
e
Lower
Eas
t Sid
eTr
iBeC
a
TriB
eCa
Fina
ntia
l Dist
rict
Fina
ntia
l Dist
rict
Batte
ry P
ark
City
Batte
ry P
ark
City
$ 2,3
95$ 5
,599
,732
$ 2,4
52
$ 1,6
68
$ 3,0
03,8
38
$ 1,7
87,0
29
$ 2,1
79
$ 1,1
70
$ 10,
494,
900
$ 890
,000
$ 2,4
47$ 5
,586
,940
$ 2,0
71$ 1
,461
,189
$ 2,5
11,4
61
$ 1,5
58$ 2
,127
,052
$ 811
$ 436
,020
Manhattan New Development Report 3Q15
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mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
MARKET SNAPSHOT3Q15 % Of Total Sponsor Sales - Borough-Wide
Number of Units Sold in 3Q15
13.9
4%70
12.1
5%61
9.36
%47
7.37
%37
1.00
%5
4.38
%22
10.5
6%53
Upper
Wes
t Sid
e
Upper
Wes
t Sid
e
Harle
mHar
lem
Upper
Eas
t Sid
e
Upper
Eas
t Sid
eM
idto
wn W
est
Mid
town
Wes
tM
idto
wn Ea
st
Mid
town
East
Mur
ray H
ill
Mur
ray H
illChe
lsea
Chelse
aG
ram
ercy
Par
k
Gra
mer
cy P
ark
Gre
enwich
Villa
ge
Gre
enwich
Villa
geEa
st V
illage
East
Villa
geSo
HoSo
HoLo
wer E
ast S
ide
Lower
Eas
t Sid
eTr
iBeC
a
TriB
eCa
Fina
ntia
l Dist
rict
Fina
ntia
l Dist
rict
Batte
ry P
ark
City
Batte
ry P
ark
City
3.19
%16
1.79
%9
0.60
%3
1.20
%6
0.60
%3
9.16
%46
13.3
5%67
11.3
5%57
Manhattan New Development Report 3Q15
page 8
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
$900
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700
$1,800
$1,900
$2,000
$2,100
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$400,000
$925,000
$1,450,000
$1,975,000
$2,500,000
MANHATTAN
Manhattan Quarterly Tracking
Median PriceMedian PPSF
PPSF Price
Median PPSF
Median Sales Price
Studios 13%1 Bedrooms 20%2 Bedrooms 20%3 Bedrooms 48%
$1,669
$1,888,309
3Q15 Unit Mix Of New Development Sales
(Excluding Harlem Median PPSF is $1,724)
(Excluding Harlem Median Sales Price is $2,019,035
Manhattan New Development Report 3Q15
page 9
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
$300
$400
$500
$600
$700
$800
$900
$1,000
$1,100
$1,200
$1,300
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$200,000
$455,556
$711,111
$966,667
$1,222,222
$1,477,778
$1,733,333
$1,988,889
$2,244,444
$2,500,000
BATTERY PARK CITY
Studios N/A1 Bedrooms N/A2 Bedrooms $1,3871500+ SF $1,680
Studios N/A1 Bedrooms N/A2 Bedrooms 21%1500+ SF 79%
Battery Park City PPSF By Unit Size ($1,629/SF Median) % Of Sales Within Battery Park City
Battery Park City Quarterly Tracking
Median PriceMedian PPSF
PPSF Price
Manhattan New Development Report 3Q15
page 10
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
CHELSEA
Studios $1,7891 Bedrooms $2,0032 Bedrooms $1,9861500+ SF $2,510
Studios 2%1 Bedrooms 2%2 Bedrooms 17%1500+ SF 78%
Chelsea PPSF By Unit Size ($2,447/SF Median)
Chelsea Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Chelsea
$100
$825
$1,550
$2,275
$3,000
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$700,000
$2,025,000
$3,350,000
$4,675,000
$6,000,000
PPSF Price
Manhattan New Development Report 3Q15
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mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
$600
$1,083
$1,567
$2,050
$2,533
$3,017
$3,500
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$400,000
$1,320,000
$2,240,000
$3,160,000
$4,080,000
$5,000,000
EAST VILLAGE
Studios N/A 1 Bedrooms $1,1692 Bedrooms $1,9921500+ SF N/A
Studios N/A1 Bedrooms 67%2 Bedrooms 33%1500+ SF N/A
East Village PPSF By Unit Size ($1,170/SF Median)
East Village Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within East Village
PPSF Price
Manhattan New Development Report 3Q15
page 12
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
FINANCIAL DISTRICT
Studios N/A1 Bedrooms $1,4642 Bedrooms $1,7311500+ SF $1,484
Studios N/A1 Bedrooms 45%2 Bedrooms 9%1500+ SF 45%
Financial District PPSF By Unit Size ($1,488/SF Median)
Financial District Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Financial District
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$500,000
$687,500
$875,000
$1,062,500
$1,250,000
$1,437,500
$1,625,000
$1,812,500
$2,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 13
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
GRAMERCY PARK
Studios N/A1 Bedrooms N/A2 Bedrooms $1,5551500+ SF $1,420
Studios N/A1 Bedrooms N/A2 Bedrooms 40%1500+ SF 60%
Gramercy Park PPSF By Unit Size ($1,534/SF Median)
Gramercy Park Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Gramercy Park
$0
$750
$1,500
$2,250
$3,000
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$0
$1,800,000
$3,600,000
$5,400,000
$7,200,000
$9,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 14
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
GREENWICH VILLAGE
Studios N/A1 Bedrooms N/A2 Bedrooms N/A1500+ SF $2,179
Studios N/A1 Bedrooms N/A2 Bedrooms N/A1500+ SF 100%
Greenwich Village PPSF By Unit Size ($2,179/SF Median)
Greenwich Village Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Greenwich Village
$1,000
$1,625
$2,250
$2,875
$3,500
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$1,250,000
$2,225,000
$3,200,000
$4,175,000
$5,150,000
$6,125,000
$7,100,000
$8,075,000
$9,050,000
$10,025,000
$11,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 15
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
HARLEM
Studios $6591 Bedrooms $8492 Bedrooms $9411500+ SF $1,662
Studios 58%1 Bedrooms 19%2 Bedrooms 14%1500+ SF 9%
Harlem PPSF By Unit Size ($811/SF Median)
Harlem Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Harlem
$300
$400
$500
$600
$700
$800
$900
$1,000
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$400,000
$550,000
$700,000
$850,000
$1,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 16
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
LOWER EAST SIDE
Studios N/A1 Bedrooms N/A2 Bedrooms $1,6291500+ SF $1,926
Studios N/A1 Bedrooms N/A2 Bedrooms 83%1500+ SF 17%
Lower East Side PPSF By Unit Size ($1,668/SF Median)
Lower East Side Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Lower East Side
$800
$900
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700
$1,800
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$500,000
$690,909
$881,818
$1,072,727
$1,263,636
$1,454,545
$1,645,455
$1,836,364
$2,027,273
$2,218,182
$2,409,091
$2,600,000
PPSF Price
Manhattan New Development Report 3Q15
page 17
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
MIDTOWN EAST
Studios N/A1 Bedrooms $1,7622 Bedrooms $1,7721500+ SF $1,746
Studios N/A1 Bedrooms 13%2 Bedrooms 26%1500+ SF 62%
Midtown East PPSF By Unit Size ($1,763/SF Median)
Midtown East Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Midtown East
$900
$1,183
$1,467
$1,750
$2,033
$2,317
$2,600
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$500,000
$750,000
$1,000,000
$1,250,000
$1,500,000
$1,750,000
$2,000,000
$2,250,000
$2,500,000
$2,750,000
$3,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 18
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
MIDTOWN WEST
Studios $1,5361 Bedrooms $1,5242 Bedrooms $1,6821500+ SF $2,445
Studios 34%1 Bedrooms 15%2 Bedrooms 30%1500+ SF 21%
Midtown West PPSF By Unit Size ($1,606/SF Median)
Midtown West Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Midtown West
$700$953
$1,207$1,460$1,713$1,967$2,220$2,473$2,727$2,980$3,233$3,487$3,740$3,993$4,247$4,500
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$100,000
$3,825,000
$7,550,000
$11,275,000
$15,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 19
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
MURRAY HILL
Studios $2,1661 Bedrooms $2,0272 Bedrooms $2,0711500+ SF $2,769
Studios 3%1 Bedrooms 68%2 Bedrooms 19%1500+ SF 11%
Murray Hill PPSF By Unit Size ($2,071/SF Median)
Murray Hill Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Murray Hill
$700
$900
$1,100
$1,300
$1,500
$1,700
$1,900
$2,100
$2,300
$2,500
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$100,000
$1,075,000
$2,050,000
$3,025,000
$4,000,000l
PPSF Price
Manhattan New Development Report 3Q15
page 20
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
SOHO
Studios N/A1 Bedrooms N/A2 Bedrooms N/A1500+ SF $2,452
Studios N/A1 Bedrooms N/A2 Bedrooms N/A1500+ SF 100%
SoHo PPSF By Unit Size ($2,452/SF Median)
SoHo Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within SoHo
$1,000
$1,750
$2,500
$3,250
$4,000
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$1,000,000
$3,500,000
$6,000,000
$8,500,000
$11,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 21
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
TRIBECA
Studios N/A1 Bedrooms $1,4892 Bedrooms N/A1500+ SF $2,487
Studios N/A1 Bedrooms 6%2 Bedrooms N/A1500+ SF 94%
TriBeCa PPSF By Unit Size ($2,395/SF Median)
TriBeCa Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within TriBeCa
$1,000
$1,500
$2,000
$2,500
$3,000
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$250,000
$1,687,500
$3,125,000
$4,562,500
$6,000,000
PPSF Price
Manhattan New Development Report 3Q15
page 22
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
UPPER EAST SIDE
Studios $1,5201 Bedrooms $1,5232 Bedrooms $1,7331500+ SF $2,370
Studios 9%1 Bedrooms 31%2 Bedrooms 29%1500+ SF 31%
Upper East Side PPSF By Unit Size ($1,757/SF Median)
Upper East Side Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Upper East Side
$900
$1,090
$1,280
$1,470
$1,660
$1,850
$2,040
$2,230
$2,420
$2,610
$2,800
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$500,000
$1,500,000
$2,500,000
$3,500,000
$4,500,000
$5,500,000
$6,500,000
$7,500,000
PPSF Price
Manhattan New Development Report 3Q15
page 23
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
UPPER WEST SIDE
Studios $1,2321 Bedrooms $1,3662 Bedrooms $1,6381500+ SF $1,645
Studios 3%1 Bedrooms 16%2 Bedrooms 9%1500+ SF 72%
Upper West Side PPSF By Unit Size ($1,558/SF Median)
Upper West Side Quarterly Tracking
Median PriceMedian PPSF
% Of Sales Within Upper West Side
$800
$1,025
$1,250
$1,475
$1,700
2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15$500,000
$950,000
$1,400,000
$1,850,000
$2,300,000
PPSF
Manhattan New Development Report 3Q15
page 24
mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249
THE REPORT EXPLAINED
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Note: All market data is collected and compiled by MNS’ marketing department. The information presented here is intended for
instructive purposes only and has been gathered from sources
deemed reliable, though it may be subject to errors, omissions,
changes or withdrawal without notice.
If you would like to republish this report on the web, please be sure
to source it as the “Manhattan New Development Report” with a link
back to its original location
http://www.mns.com/manhattan_new_dev_report
Included in this research are walk-up and elevator new development condominium buildings, as well as new conversion condominiums if the sales were applicable sponsor transactions. Excluded from the report are all cooperative sales.
Unit types such as studios, one-bedrooms, and two-bedroom units are grouped by square footage ranges. Studios are under
700 square feet, one-bedrooms are under 900 square feet, and
two-bedrooms are under 1,450 square feet. Added to the report is
the over-sized unit type that ranges from 1,500 square feet to 7,000
square feet.
Presented with a quarter-over-quarter and year-over-year
comparison, both city-wide and by neighborhood, MNS New
Development ReportTM tracks the market trends throughout
Manhattan and Brooklyn. MNS offers a unique insight into the new
development market by tracking stalled construction sites on a
quarterly basis, a great indicator of where development in general is
moving. MNS is your source to find neighborhood price per square
foot analysis, average sale prices, unit type sales trends, overall price
movement, neighborhood inventory comparisons, and
absorption rates.
mns.com mns.comWilliamsburg 212.475.9000102 N 6th st, 2nd Fl. Brooklyn, NY 11249
Williamsburg 718.222.1545165 Bedford Avenue, Brooklyn, NY 11211
Williamsburg 718.222.021140 North 6th Street, Brooklyn, NY 11249