#
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MANHATTANMULTIFAMILY MARKET REPORT
3rd Quarter 2016
Multifamily Market Report Overview
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty
Multifamily Market Report Overview
Released quarterly, the Manhattan Multifamily Market Report is organized in six distinct sections and it is
designed as a guide to the borough’s multifamily market. The report includes key market stats, the most
up-to-date quarterly sales data, and charts that give a clear picture of current market conditions.
The first section - Multifamily Market Overview - shows the borough’s quarterly sales volume and stats on
average price per square foot and per unit. Small, medium, and large multifamily buildings are also
accounted for separately and sales stats are provided for each category.
Following a list of top 25 most expensive multifamily sales, Manhattan neighborhoods are ranked by
average price per square foot over the past quarter. Each neighborhood has its own one-page snapshot
with stats and trends for the local multifamily market.
Table of Contents
123456
Multifamily Market Overview
Top 25 Multifamily Sales
Map of Neighborhoods
Top Neighborhoods
Sales Maps
Stats by Neighborhood
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Multifamily Market Overview
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
Large multifamily
Medium multifamily
Small multifamily
-25% YoY
Transactions
-16% YoY
Average price/unit
-10% YoY
Average price/sq.ft.
-42% YoY
Sales volume
Multifamily Market Overview
Manhattan, 3rd Quarter 2016
$1.6B $579 $421K 155
$878
$
$500
$1,000
$1,500
$2,000
Q1-
2014
Q2-2
014
Q3-2
014
Q4-2
014
Q1-
2015
Q2-2
015
Q3-2
015
Q4-2
015
Q1-
2016
Q2-2
016
Q3-2
016
Average price/sq.ft.
53
$253M
0
20
40
60
80
100
$
$200M
$400M
$600M
$800MSales volume / Transactions
$584
$
$200
$400
$600
$800
Q1-
2014
Q2-2
014
Q3-2
014
Q4-2
014
Q1-
2015
Q2-2
015
Q3-2
015
Q4-2
015
Q1-
2016
Q2-2
016
Q3-2
016
Average price/sq.ft.
97
$783M
0
50
100
150
$
$500M
$1B
$2BSales volume / Transactions
$500
$
$200
$400
$600
$800
Q1-
2014
Q2-2
014
Q3-2
014
Q4-2
014
Q1-
2015
Q2-2
015
Q3-2
015
Q4-2
015
Q1-
2016
Q2-2
016
Q3-2
016
Average price/sq.ft.
5
$597M051015202530
$ $1B $2B $3B $4B $5B $6B
Sales volume / Transactions
1
Top 25 Multifamily Sales
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
# Address Sale Price Sale Date Sq.ft. Price/Sq.ft.
Financial District
3 630 Lenox Ave $98,000,000 11-Jul-16 370,636 $264 Harlem
2 67-75 Wall St $182,391,612 30-Sep-16 303,175 $602
Neighborhood
1 63 Wall St $239,114,604 30-Sep-16 400,531 $597 Financial District
Carnegie Hill
6 50-56 Manhattan Ave $25,800,000 06-Jul-16 42,783 $603 Manhattan Valley
5 118 E 93 St $38,500,000 21-Jul-16 42,857 $898
Harlem
4 134-138 W 58 St $61,500,000 26-Jul-16 61,791 $995 Theatre District - Times Square
620 Lenox Ave $98,000,000 11-Jul-16 370,636 $264
UWS
9 28 Thayer St $19,700,000 24-Aug-16 64,255 $307 Hudson Heights
212 AIR RGTS W 96 St $22,200,000 19-Jul-16 22,000 $1,009
Yorkville
8 210 W 96 St $22,200,000 19-Jul-16 22,000 $1,009 UWS
7 1771-1775 1 Ave $22,795,500 22-Sep-16 21,640 $1,053
UWS
12 121 Chambers St $16,200,000 16-Aug-16 18,500 $876 TriBeCa
11 477 Amsterdam Ave $17,100,000 21-Jul-16 9,500 $1,800
Hudson Heights
10 1495 3 Ave $18,200,000 26-Sep-16 10,946 $1,663 Yorkville
14 Thayer St $19,700,000 24-Aug-16 64,255 $307
Chelsea
316 W 39 St $16,000,000 18-Aug-16 13,500 $1,185 Garment District
255 10 Ave $16,000,000 08-Sep-16 5,262 $3,041
Chelsea
14 314 W 39 St $16,000,000 18-Aug-16 13,500 $1,185 Garment District
13 253 10 Ave $16,000,000 08-Sep-16 5,262 $3,041
Harlem
102 W 138 St $15,500,000 26-Jul-16 59,835 $259 Harlem
100 W 138 St $15,500,000 26-Jul-16 59,835 $259
Hudson Heights
16 539 Lenox Ave $15,500,000 26-Jul-16 59,835 $259 Harlem
15 220 Wadsworth Ave $15,600,000 15-Aug-16 56,652 $275
Greenwich Village
19 13 Christopher St $12,450,000 10-Aug-16 8,280 $1,504 Greenwich Village
182 Waverly Pl $14,000,000 26-Sep-16 8,522 $1,643
Lenox Hill
18 184 Waverly Pl $14,000,000 26-Sep-16 8,522 $1,643 Greenwich Village
17 1291 3 Ave $15,000,000 07-Sep-16 6,074 $2,470
Yorkville
23 209 W 20 St $11,575,000 10-Aug-16 8,525 $1,358 Chelsea
22 225 E 82 St $11,850,000 11-Aug-16 11,838 $1,001
Washington Heights
21 44 Grand St $12,100,000 08-Jul-16 10,150 $1,192 SoHo
20 247-251 Audubon Ave $12,300,000 27-Jul-16 49,380 $249
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Bowery
25 414 E 78 St $11,200,000 15-Sep-16 13,004 $861 Lenox Hill
24 3 E 3 St $11,500,000 12-Aug-16 3,140 $3,662
Top 25 Multifamily Sales
Manhattan, 3rd Quarter 2016
2
Map of Neighborhoods
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
P: 718-715-1758 www.PropertyShark.com [email protected]
Map of Neighborhoods
Average price per square foot (past 3 years)
3
Top Neighborhoods
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
# NeighborhoodAverage
price/sq.ft.Sales volume
No. of
sales
Avg. price/sqft by multifamily size
Small Medium Large
$876 -
4 Chelsea $853 $62,670,000 11 $1,167 $537 -
3 Yorkville $972 $98,741,212 9 $1,454
$1,239 -
2 UWS $1,195 $90,330,000 9 $964 $1,374 -
1 Greenwich Village $1,411 $39,950,000 4 $1,666
$654 -
8 Clinton - Hell's Kitchen $714 $118,536,000 17 - $714 -
7 NoLIta $783 $22,992,500 3 $1,365
$1,030 -
6 East Village $784 $51,279,112 9 $882 $749 -
5 Lenox Hill $813 $78,124,154 9 $106
$411 -
12 Washington Heights $312 $64,720,000 10 $338 $311 -
11 East Harlem $413 $31,409,533 11 $415
$648 -
10 Hamilton Heights $442 $13,161,000 5 $551 $371 -
9 Manhattan Valley $648 $42,125,000 3 -
$248 -
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15 Inwood $248 $18,000,000 3 -
$293 $264
14 Hudson Heights $288 $50,675,000 5 - $295 $275
13 Harlem $294 $167,090,467 21 $581
Top Neighborhoods
Manhattan, 3rd Quarter 2016
This is a ranking of Manhattan neighborhoods based on average sale price per sq.ft.
Only neighborhoods with a minimum of 3 property sales where square footage is available were considered.
4
Sales Maps
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
P: 718-715-1758 www.PropertyShark.com [email protected]
This heat map displays the price per square foot
for properties sold in the past 5 years. The areas in
dark red are the most expensive.
Price / Sq.ft.
The map displays recent sales activity. The
areas in dark blue were the most active in terms
of closed sales.
Recent sales
Sales Maps
Manhattan, 3rd Quarter 2016
5
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $1,387,419 7% $1,167 -31% $43,010,000 7 8 31
ChelseaManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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4 4 57
Large - - - - $0 0
Medium $344,912 -53% $537 -49% $19,660,000
Type of Properties Sold
-27% YoY
Number of Transactions
-17% YoY
Average Sale Price per Sq.ft.
-87% YoY
Sales volume
Chelsea is one of the most popular neighborhoods in Manhattan and
manages to balance being a cultural capital of the city while still
maintaining its cozy residential feel. Points of interest include Chelsea
Market, which takes up an entire city block and is home to the Food
Network studios and Chelsea Piers, a 28-acre waterfront sports village.
$62.7M
$ $100M $200M $300M $400M $500M $600M
Sales volume
$62.7M
$853
$
$500
$1,000
$1,500
$2,000Average Sale Price per Sq.ft.
$853
11
0
5
10
15
20Number of Transactions
11
6
The RATNER Team Market Reports
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Units
Small - - - - $0 0 0 0
Clinton - Hell's KitchenManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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17 17 329
Large - - - - $0 0
Medium $360,292 -50% $714 -28% $118,536,000
Type of Properties Sold
467% YoY
Number of Transactions
-17% YoY
Average Sale Price per Sq.ft.
-29% YoY
Sales volume
High-rises are the order of the day in some parts of Hell’s Kitchen but
there are also plenty of historic NYC condos, apartments, and residential
homes. Residents are proud of the neighborhood’s unique rough-and-
tumble vibe and buyers choose it for its convenient proximity to the lush
greens of Central Park, the theaters on Broadway, and the old-world
charm of its mom and pop shops.
$118.5M
$
$100M
$200M
$300M
$400M
$500MSales volume
$118.5M
$714
$$200$400$600$800
$1,000$1,200
Average Sale Price per Sq.ft.
$714
17
0
5
10
15
20Number of Transactions
17
7
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $472,790 -9% $415 -9% $14,656,500 7 7 31
East HarlemManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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4 4 56
Large - - - - $0 0
Medium $299,161 18% $411 -8% $16,753,033
Type of Properties Sold
57% YoY
Number of Transactions
-9% YoY
Average Sale Price per Sq.ft.
53% YoY
Sales volume
Also known as Spanish Harlem or El Barrio, and formerly as Italian
Harlem, East Harlem is full of vibrancy in the form of huge murals,
museums, and good subway access. It’s a bustling neighborhood full of
nightlife, art, community gardens, churches, and unique local businesses.
Parking is relatively easy and residents enjoy a tight community vibe.
$31.4M
$ $100M $200M $300M $400M $500M $600M
Sales volume
$31.4M
$413
$
$100
$200
$300
$400
$500Average Sale Price per Sq.ft.
$413
11
0
5
10
15
20
25Number of Transactions
11
8
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $721,088 -10% $882 -11% $15,142,840 3 3 21
East VillageManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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6 6 81
Large - - - - $0 0
Medium $446,127 34% $749 27% $36,136,272
Type of Properties Sold
-55% YoY
Number of Transactions
62% YoY
Average Sale Price per Sq.ft.
-62% YoY
Sales volume
Home to a number of artistic movements including punk rock and the
Nuyorican literary movement, East Village is a diverse community with a
unique artistic vibe and vibrant 24/7 nightlife. The neighborhood is home
to parks, indie record stores, and budget-minded eateries. Housing
options here include co-ops, condos, and some rare examples of the
townhouse.
$51.3M
$ $50M
$100M $150M $200M $250M $300M
Sales volume
$51.3M
$784
$
$200
$400
$600
$800
$1,000Average Sale Price per Sq.ft.
$784
9
0
5
10
15
20
25Number of Transactions
9
9
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $1,076,923 -4% $1,666 10% $19,000,000 2 2 13
Greenwich VillageManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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2 2 29
Large - - - - $0 0
Medium $722,414 -68% $1,239 -19% $20,950,000
Type of Properties Sold
33% YoY
Number of Transactions
-8% YoY
Average Sale Price per Sq.ft.
-46% YoY
Sales volume
New York history is rich in Greenwich Village. Locals have successfully
had much of it designated a historic district. It’s home to the city’s
biggest concentration of Federal-style row houses and a group of 22
homes that share a common back yard. Once known for its bohemian
attitude, the Village is now one of NYC’s most sought-after
neighborhoods.
$40.0M
$
$50M
$100M
$150M
$200MSales volume
$40.M
$1,411
$
$1,000
$2,000
$3,000
$4,000Average Sale Price per Sq.ft.
$1,411
4
0
5
10
15Number of Transactions
4
10
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $314,765 - $551 4% $6,501,000 4 3 17
Hamilton HeightsManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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1 1 21
Large - - - - $0 0
Medium $317,143 7% $371 -14% $6,660,000
Type of Properties Sold
-17% YoY
Number of Transactions
20% YoY
Average Sale Price per Sq.ft.
-86% YoY
Sales volume
Located in North Manhattan, Hamilton Heights is named after founding
father Alexander Hamilton. Housing options include brownstones,
rowhouses, and spacious apartments. There are more than half a dozen
subway lines running through this neighborhood and many express and
local buses. Landmarks include the historic district Historic Hamilton
Heights.
$13.2M
$
$50M
$100M
$150MSales volume
$13.2M
$442
$
$100
$200
$300
$400
$500Average Sale Price per Sq.ft.
$442
5
0
5
10
15Number of Transactions
5
11
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $357,771 30% $581 80% $22,658,500 12 11 59
HarlemManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
2 518
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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8 12 215
Large $189,189 -37% $264 -11% $98,000,000 1
Medium $215,963 -15% $293 -4% $46,431,967
Type of Properties Sold
-51% YoY
Number of Transactions
-5% YoY
Average Sale Price per Sq.ft.
-23% YoY
Sales volume
Home to the Apollo Theater, Harlem is made up of elegant row houses,
city parks with world famous landmarks like Hamilton Grange and Mount
Morris Fire Watchtower, shops, music halls, and eateries of all types and
price points. There are ten trains and 26 train stations in Harlem, which
makes it a great choice for buyers who plan to commute.
$167.1M
$ $50M
$100M $150M $200M $250M $300M
Sales volume
$167.1M
$294
$
$100
$200
$300
$400Average Sale Price per Sq.ft.
$294
21
0
20
40
60
80Number of Transactions
21
12
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small - - - - $0 0 0 0
Hudson HeightsManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
1 54
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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4 5 153
Large $288,889 20% $275 22% $15,600,000 1
Medium $229,248 39% $295 40% $35,075,000
Type of Properties Sold
25% YoY
Number of Transactions
30% YoY
Average Sale Price per Sq.ft.
18% YoY
Sales volume
Primarily a residential neighborhood, Hudson Heights has an abundance
of apartments, townhomes, co-ops, and high-rises. Art Deco is the most
prominent architecture style with Tudor Revival coming a close second.
The highest point in all of Manhattan is located in Hudson Heights,
which, as the name implies, offers views of the Hudson River.
$50.7M
$
$50M
$100M
$150MSales volume
$50.7M
$288
$
$100
$200
$300
$400Average Sale Price per Sq.ft.
$288
5
0
5
10
15
20Number of Transactions
5
13
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small - - - - $0 0 0 0
InwoodManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
3 3 91
Large - - - - $0 0
Medium $197,802 -40% $248 -34% $18,000,000
Type of Properties Sold
50% YoY
Number of Transactions
-28% YoY
Average Sale Price per Sq.ft.
-43% YoY
Sales volume
Located in the northern part of Manhattan, Inwood feels far away from
the fast pace of stereotypical Manhattan, thanks to the lush, forested
parks and local salt marshes. Luckily, this distance doesn’t result in a lack
of diversity. This is a unique neighborhood for renters or buyers who
want low-key, pastoral living with easy access to the city.
$18.0M
$
$10M
$20M
$30M
$40MSales volume
$18.M
$248
$
$100
$200
$300
$400Average Sale Price per Sq.ft.
$248
3
0
2
4
6
8Number of Transactions
3
14
The RATNER Team Market Reports
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Units
Small $300,000 -75% $106 -93% $2,400,000 1 1 8
Lenox HillManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
8 9 154
Large - - - - $0 0
Medium $491,715 -20% $1,030 12% $75,724,154
Type of Properties Sold
-40% YoY
Number of Transactions
-13% YoY
Average Sale Price per Sq.ft.
-65% YoY
Sales volume
Perhaps best known as the home of Lenox Hill Hospital, there are many
luxury residences from the 1910s and ‘20s in Lenox Hill, alongside newer
co-ops, condos, and high rises. The streets are lined with boutiques, five-
star hotels, art galleries, and museums – including the Frick Collection.
There is just one subway but it is close to Central Park.
$78.1M
$
$100M
$200M
$300M
$400MSales volume
$78.1M
$813
$
$1,000
$2,000
$3,000
$4,000Average Sale Price per Sq.ft.
$813
9
0
5
10
15
20Number of Transactions
9
15
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Units
Small - - - - $0 0 0 0
Manhattan ValleyManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
3 3 80
Large - - - - $0 0
Medium $526,563 43% $648 12% $42,125,000
Type of Properties Sold
200% YoY
Number of Transactions
12% YoY
Average Sale Price per Sq.ft.
134% YoY
Sales volume
Formerly known as the Bloomingdale District, Manhattan Valley is made
up of a combination of new developments and pre-war buildings. The
ample green spaces and access to three subway lines attract both
commuters and families. Columbus Square, an expanding new
development, has hundreds of condos, 500,000+ square feet of retail
space, and eateries.
$42.1M
$
$50M
$100M
$150MSales volume
$42.1M
$648
$$200$400$600$800
$1,000$1,200
Average Sale Price per Sq.ft.
$648
3
0
5
10
15
20Number of Transactions
3
16
The RATNER Team Market Reports
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Warren Lewis Sotheby’s International Realty
Units
Small $906,250 - $1,365 - $7,250,000 1 1 8
NoLItaManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
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2 2 41
Large - - - - $0 0
Medium $383,963 - $654 - $15,742,500
Type of Properties Sold
-
Number of Transactions
-
Average Sale Price per Sq.ft.
-
Sales volume
Short for “North of Little Italy,” NoLita is a trendy neighborhood lined
with designer boutiques, narrow streets, sidewalk cafes and up-to-the-
minute hotspots. With five train stations, commuting is a breeze. This
neighborhood is a great choice for buyers looking for a bustling
Manhattan neighborhood.
$23.0M
$
$20M
$40M
$60M
$80M
$100M
Q1-2013 Q1-2015 Q2-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
Sales volume
$23.M
$783
$
$500
$1,000
$1,500
$2,000
$2,500
Q1-2013 Q1-2015 Q2-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
Average Sale Price per Sq.ft.
$783
3
0
1
2
3
4
5
Q1-2013 Q1-2015 Q2-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
Number of Transactions
3
17
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty
Units
Small $1,678,947 27% $964 -25% $31,900,000 3 3 19
UWSManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
6 6 60
Large - - - - $0 0
Medium $973,833 171% $1,374 123% $58,430,000
Type of Properties Sold
-18% YoY
Number of Transactions
41% YoY
Average Sale Price per Sq.ft.
-26% YoY
Sales volume
The Upper West Side, often shortened to UWS, is conveniently situated
between Central Park and the Hudson River. This primarily residential
neighborhood has a diverse population but is known as a top choice for
business workers. Prices are higher in UWS than in most other NYC
neighborhoods but the laidback atmosphere can be worth it.
$90.3M
$
$100M
$200M
$300M
$400M
$500MSales volume
$90.3M
$1,195
$
$500
$1,000
$1,500Average Sale Price per Sq.ft.
$1,195
9
0
5
10
15
20Number of Transactions
9
18
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty
Units
Small $188,571 -38% $338 -11% $2,640,000 2 2 14
Washington HeightsManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
8 9 240
Large - - - - $0 0
Medium $258,667 4% $311 8% $62,080,000
Type of Properties Sold
-44% YoY
Number of Transactions
9% YoY
Average Sale Price per Sq.ft.
-62% YoY
Sales volume
Though less dense than other Manhattan neighborhoods, Washington
Heights offers good transportation options. This neighborhood is home
to ten outdoor parks, including Bennet Park – famous for including the
highest natural point in Manhattan. The Cloisters museum, in
Washington Heights’ Fort Tryon Park, is one of the most important
tourist attractions in North Manhattan.
$64.7M
$
$50M
$100M
$150M
$200M
$250MSales volume
$64.7M
$312
$
$100
$200
$300
$400Average Sale Price per Sq.ft.
$312
10
0
5
10
15
20Number of Transactions
10
19
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty
Units
Small $1,543,750 41% $1,454 36% $24,375,000 2 1 4
YorkvilleManhattan, 3rd Quarter 2016
Multifamily size Avg. price/unit Y-o-Y Avg. price/sqft Y-o-Y Sales volume Sales Buildings
0 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
P: 718-715-1758 www.PropertyShark.com [email protected]
7 7 166
Large - - - - $0 0
Medium $447,989 -23% $876 -26% $74,366,212
Type of Properties Sold
-53% YoY
Number of Transactions
-5% YoY
Average Sale Price per Sq.ft.
-61% YoY
Sales volume
Home to Gracie Mansion, the home of the New York City mayor,
Yorkville doesn’t have a single subway station and has some of the
farthest walks in all of Manhattan to any subway station. Buyers who
aren’t afraid of the walk can find affordable condos in classic walk-up
buildings and access to several universities and numerous large city
parks.
$98.7M
$
$200M
$400M
$600M
$800MSales volume
$98.7M
$972
$$200$400$600$800
$1,000$1,200
Average Sale Price per Sq.ft.
$972
9
0
5
10
15
20Number of Transactions
9
20
Attractions
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty
P: 718-715-1758 www.PropertyShark.com [email protected]
Garden of the Cloisters Museum
Attractions
Manhattan, 3rd Quarter 2016
Central Park
21
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty
The RATNER Team Market Reports
o: 718-747-8215 | c: 347-501-0860 | e: [email protected]
Warren Lewis Sotheby’s International Realty