6
DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 3rd Quarter 2018
P: 718-715-1758 www.PropertyShark.com
[email protected]
Multifamily Market Report, 3rd Quarter 2018
Multifamily Market Report, 3rd Quarter 2018 Downtown Manhattan, Manhattan
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$313.7M
21
$780K
$1,108
9% YoY
24% YoY
12% YoY
-4% YoY
NEIGHBORHOOD BOUNDARIES
P: 718-715-1758 www.PropertyShark.com
[email protected]
MULTIFAMILY STATS Sales Volume $1,200.0M $1,000.0M $800.0M $600.0M $400.0M $200.0M $
$1,083M $621M
$646M
$587M $366M
$519M $483M
$704M $665M $385M
$592M $246M $193M $278M $289M
$154M
$332M
$233M
$314M
Average Sale Price per Unit $1.2M $1.0M $800K $600K $400K $200K $
$780K
$694K
1500
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2016 263 864 1170 394
2017 273 405 416 877
2018 556 272 402
1000
556
0 Q1
Q2 2016
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2016 23 39 32 17
2017 14 24 18 27
2018 30 25 23
50 40 30 20 10 0
30
Q1
40
Quarter Q1 Q2 Q3 Q4
2016 23 36 31 16
2017 14 24 17 23
2018 29 24 21
2017
Q2
29
30
Q3
23
Q3 2017
Q4
2018
25
2016
Number of Transactions
402
272
500
Q4
2018
24
21
20 10 0 Q1
Q2 2016
Q3 2017
2018
P: 718-715-1758 www.PropertyShark.com
[email protected]
Q4
Total Sq. Ft. 2.0M 1.5M 1.0M
1.8M 950K 575K
785K
835K
591K
620K
680K
617K
500K
940K
221K
748K 217K
221K
291K
477K
250K
224K
283K
Average Sale Price per Square Foot $1,400 $1,200 $1,000 $800 $600 $400 $200 $
$1,156
$1,108
MULTIFAMILY SIZE
Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $1,312,655 $606,114 $822,761
Y-o-Y -12% 7% 4%
Avg. price/sqft $1,452 $999 $1,068
Y-o-Y -1% -10% -1%
Sales volume $76,134,000 $127,284,000 $110,250,000
Sales 10 9 2
Buildings 10 11 2
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
9%
Small
48% 43%
Medium Large
P: 718-715-1758 www.PropertyShark.com
[email protected]
Units 58 210 134
LIST OF TRANSACTIONS Address 62 Avenue B 426 E 14th St 116 Mott St 189 Hester St 185 Hester St 187 Hester St 64 Third Ave 45 W Eighth St 72 Bedford St 34 Eighth Ave 66 Morton St 228 Thompson St 433 Washington St 21 Avenue B 302 E Twelfth St 41 Henry St 87 E Fourth St 303 W Fourth St 200 E Seventh St 226 E Tenth St 121 Norfolk St 20 Leroy St 103 Mosco St
Sale date 21-Sep-18 14-Aug-18 14-Sep-18 24-Jul-18 24-Jul-18 24-Jul-18 27-Jul-18 17-Sep-18 10-Jul-18 28-Sep-18 31-Jul-18 16-Jul-18 30-Jul-18 7-Sep-18 10-Jul-18 21-Sep-18 15-Aug-18 12-Sep-18 5-Sep-18 26-Jul-18 17-Sep-18 31-Jul-18 5-Sep-18
Sale price $82,000,000 $28,250,000 $22,600,000 $18,250,000 $18,250,000 $18,250,000 $16,120,000 $16,064,000 $16,000,000 $15,900,000 $15,500,000 $14,300,000 $11,500,000 $10,350,000 $7,750,000 $7,000,000 $6,800,000 $6,300,000 $5,000,000 $4,900,000 $3,250,000 $2,939,000 $2,895,000
Property type Large multifamily Large multifamily Medium multifamily Small multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Small multifamily Medium multifamily Small multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Small multifamily Small multifamily Small multifamily Small multifamily
Units 83 51 35 9 22 21 11 15 19 24 3 9 5 16 9 20 9 4 18 8 4 3 4
Sqft 71,334 31,875 21,196 7,731 8,845 9,116 9,402 17,052 12,349 10,552 5,328 8,793 9,552 10,588 6,932 9,960 4,700 3,200 10,650 5,728 2,935 2,340 2,913
Price/sqft $1,150 $886 $1,066 $710 $710 $710 $1,715 $942 $1,296 $1,507 $2,909 $1,626 $1,204 $978 $1,118 $703 $1,447 $1,969 $469 $855 $1,107 $1,256 $994
P: 718-715-1758 www.PropertyShark.com
[email protected]
Pkg. deal No No No Yes Yes Yes No No No No No No No No No No No No No No No No No
