Downtown Brooklyn Report

---

Downtown Brooklyn Report Downtown Brooklyn 1ST QUARTER 2016 in Downtown Brooklyn, Brooklyn

2016 1

Downtown Brooklyn Report A quarterly analysis of multifamily sales in Downtown Brooklyn, Brooklyn 1ST QUARTER 2016

Borough

Neighborhood

Brooklyn Downtow n

Year

2016

Quarter

1

Multifamily Market Report, Q1 2016 Downtown Brooklyn, Brooklyn

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS 24

$136M

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ. FT.

$618K $

$136M

24

$618K

$649

58% Y-o-Y

-4% Y-o-Y

12% Y-o-Y

-5% Y-o-Y

COMMUNITY DISTRICT BOUNDARIES

2

www.propertyshark.com

649

MULTIFAMILY STATS Sales Volume $250 M

$193 M

$200 M $150 M $100 M

$56 M

$50 M

$66 M

$55 M

$92 M

$69 M

$31 M

$115 M

$148 M $102 M

$153 M

$128 M $135 M

$136 M

$86 M

$63 M

$34 M

$M

Total Sq. Ft. 500K

461K

400K

331K

300K 200K

164K

194K

159K 78K

100K

105K

172K

246K

191K

228K

291K

296K

223K

209K 127K

93K

0

Average Sale Price per Unit $700K $600K $500K $400K $300K $200K $100K 0

$618K

$553K

Number of Units Sold

600 500

Quarter Q1

2014 197

2015 156

Q2

328

482

Q3

195

335

Q4

291

105

400

2016 220

300

220

200 100 0 Q1

Q2 2014

Number of Buildings Sold

Q4

2016

40

2014 34

2015 27

Q2

23

34

Q3

24

27

Q4

31

17

Quarter Q1

Q3 2015

30

2016 24

24

20 10 0 Q1

Number of Transactions

Q2 2014

2015

Q3 2016

Q4

35 30

24

25

Quarter Q1

2014 33

2015 25

2016 24

Q2

23

31

Q3

24

26

5

Q4

29

17

0

20 15 10

Q1

Q2 2014

3

www.propertyshark.com

Q3 2015

2016

Q4

Average Price per Square Foot $800 $700 $600 $500 $400 $300 $200 $100 $0

$681

$649

MULTIFAMILY SIZE Size of Multifamily Properties Sold

Multifamily size Small Medium Large

Average price per unit

Average price per sq. ft.

Small

Price $608,898

Y-o-Y -4%

Price $736

Y-o-Y 10%

Medium

$536,667

25%

$1,714

139%

Sales volume

Total Sq. Ft.

No. of sales

No. of buildings

No. of units

$63,325,434

86,024

21

21

104

87.5%

$16,100,000

9,392

2

2

30

8.3%

113,924

1

1

86

4.2%

$656,977 n/a $496 n/a $56,500,000 Large Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

Number of Sold Buildings by Size

Medium 8.3%

Large 4.2%

Small 87.5%

4

www.propertyshark.com

24

LIST OF TRANSACTIONS Sale date

Sale price

Property type

Units

Price per unit

Sq. Ft.

Price per Sq. Ft.

1 379 Washington Ave 2 50 Orange St

31-Mar-16 12-Jan-16

$56,500,000 $13,500,000

Large multifamily Medium multifamily

86 20

$656,977 $675,000

113,924 4,112

$496 $3,283

Package deal No No

3 122 Montague St

21-Mar-16

$7,575,000

Small multifamily

5

$1,515,000

6,800

$1,114

No

4 139 Montague St

01-Mar-16

$6,200,000

Small multifamily

6

$1,033,333

6,440

$963

No

5 130 Joralemon St

13-Jan-16

$4,750,000

Small multifamily

7

$678,571

5,720

$830

No

6 149 Clinton St

01-Mar-16

$4,500,000

Small multifamily

5

$900,000

4,400

$1,023

No

7 93 Atlantic Ave

29-Jan-16

$4,200,000

Small multifamily

8

$525,000

6,350

$661

No

8 444 State St

13-Jan-16

$3,931,434

Small multifamily

8

$491,429

6,545

$601

No

9 150 Bergen St

10-Mar-16

$3,250,000

Small multifamily

3

$1,083,333

2,600

$1,250

No

10 507 Myrtle Ave

13-Jan-16

$3,200,000

Small multifamily

6

$533,333

3,750

$853

No

11 29 Joralemon St

14-Jan-16

$3,200,000

Small multifamily

3

$1,066,667

2,280

$1,404

No

12 236 Cumberland St

08-Feb-16

$2,900,000

Small multifamily

3

$966,667

3,200

$906

No

13 96 Wyckoff St

25-Feb-16

$2,800,000

Small multifamily

7

$400,000

6,500

$431

No

14 261 Warren St

24-Feb-16

$2,700,000

Small multifamily

3

$900,000

3,780

$714

No

15 215 Lafayette Ave 16 162 S Portland Ave

03-Feb-16

$2,600,000

Medium multifamily

10

$260,000

5,280

$492

No

23-Mar-16

$2,100,000

Small multifamily

3

$700,000

2,700

$778

No

17 69 Grand Ave

31-Mar-16

$1,900,000

Small multifamily

6

$316,667

3,750

$507

No

18 146 Lafayette Ave

15-Mar-16

$1,750,000

Small multifamily

6

$291,667

4,050

$432

No

19 198 Washington Ave

26-Jan-16

$1,700,000

Small multifamily

3

$566,667

2,970

$572

No

20 299 Vanderbilt Ave

31-Mar-16

$1,599,000

Small multifamily

7

$228,429

3,000

$533

No

21 229 Washington Ave

29-Feb-16

$1,500,000

Small multifamily

4

$375,000

3,189

$470

No

22 112 Ryerson St

23-Mar-16

$1,320,000

Small multifamily

3

$440,000

2,100

$629

No

23 129 Ryerson St

03-Mar-16

$1,300,000

Small multifamily

4

$325,000

3,100

$419

No

24 83 Ryerson St

08-Feb-16

$950,000

Small multifamily

4

$237,500

2,800

$339

No

Address

5

www.propertyshark.com