Downtown Brooklyn Report

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Downtown Brooklyn Report Downtown Brooklyn 4TH QUARTER 2015 in Downtown Brooklyn, Brooklyn

Downtown Brooklyn Report A quarterly analysis of multifamily sales in Downtown Brooklyn, Brooklyn 4TH QUARTER 2015

Borough

Neighborhood

Brooklyn Downtow n

Year

2015

Quarter

4

Multifamily Market Report, Q4 2015 Downtown Brooklyn, Brooklyn

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS 17

$63M

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ. FT.

$596K $

$63M

17

$596K

$677

-53% Y-o-Y

-41% Y-o-Y

35% Y-o-Y

12% Y-o-Y

COMMUNITY DISTRICT BOUNDARIES

2

www.propertyshark.com

677

MULTIFAMILY STATS Sales Volume $250 M

$193 M

$200 M $150 M $100 M

$56 M

$50 M

$66 M

$55 M

$69 M

$92 M $31 M

$115 M

$148 M $102 M

$128 M

$153 M

$135 M $86 M

$63 M

$34 M

$M

Total Sq. Ft. 500K

461K

400K

331K

300K 200K

164K

194K

159K 78K

100K

172K

105K

246K

191K

228K

291K

296K

223K 127K

93K

0

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

$596K $441K

Number of Units Sold

600

482

500

Quarter Q1

2013 88

2014 258

2015 157

Q2

120

327

482

Q3

228

195

335

Q4

311

291

106

400

335

300 157

200

106

100 0 Q1

Q2

Q3

2013

Number of Buildings Sold

2014

Q4

2015

50

Quarter Q1

2013 19

2014 34

2015 27

Q2

25

23

34

Q3

29

24

27

Q4

41

31

17

40

34 27

30

27 17

20 10 0 Q1

Number of Transactions

Q2 2013

2014

Q3 2015

Q4

50 40

Quarter Q1

2013 19

2014 33

2015 25

Q2

25

23

31

Q3

26

24

26

10

Q4

39

29

17

0

31

30

17

20

Q1

Q2 2013

3

26

25

www.propertyshark.com

Q3 2014

2015

Q4

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

$677

$603

MULTIFAMILY SIZE Size of Multifamily Properties Sold

Multifamily size Small Medium

Average price per unit

Average price per sq. ft.

Small

Price $612,635

Y-o-Y 27%

Price $586

Y-o-Y 8%

Medium

$578,846

46%

$817

95%

Sales volume

Total Sq. Ft.

No. of sales

No. of buildings

No. of units

$33,082,317

56,432

13

13

54

50.9%

$30,100,000

36,850

4

4

52

49.1%

n/a

n/a

n/a

n/a

n/a n/a n/a n/a n/a Large Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

Number of Sold Buildings by Size

Medium 49.1%

Small 50.9%

4

www.propertyshark.com

19

LIST OF TRANSACTIONS Sale date

Sale price

Property type

Units

Price per unit

Sq. Ft.

Price per Sq. Ft.

1 50 Greene Ave 2 471 Vanderbilt Ave

01-Oct-15 01-Oct-15

$60,209,050 $60,209,050

Medium multifamily Medium multifamily

41 26

$398,735 $398,735

35,872 12,240

$451 $451

Package deal Yes Yes

3 63 Montague St

23-Nov-15

$10,500,000

Medium multifamily

12

$875,000

9,972

$1,053

No

4 301 Livingston St

19-Oct-15

$8,250,000

Medium multifamily

11

$750,000

9,286

$888

No

5 42 Sidney Pl

21-Dec-15

$6,350,000

Medium multifamily

14

$453,571

8,500

$747

No

6 30 S Portland Ave

21-Dec-15

$5,250,000

Small multifamily

3

$1,750,000

4,000

$1,313

No

7 477-479 Clinton Ave

03-Dec-15

$5,000,000

Medium multifamily

15

$333,333

9,092

$550

No

8 90 Clermont Ave

08-Oct-15

$4,600,000

Small multifamily

7

$657,143

7,648

$601

No

9 108 Gates Ave

21-Oct-15

$3,151,000

Small multifamily

4

$787,750

3,500

$900

No

10 221 St James Pl

07-Oct-15

$3,000,000

Small multifamily

4

$750,000

6,268

$479

No

11 215 Clinton Ave

16-Dec-15

$2,900,000

Small multifamily

3

$966,667

5,480

$529

No

12 915 Atlantic Ave

20-Nov-15

$2,573,060

Small multifamily

4

$643,265

4,000

$643

No

13 314 Clermont Ave

26-Oct-15

$2,550,000

Small multifamily

4

$637,500

2,520

$1,012

No

14 163 Park Ave

22-Oct-15

$2,150,000

Small multifamily

9

$238,889

6,120

$351

No

15 86 Clinton Ave 16 111 Lefferts Pl

09-Oct-15

$2,150,000

Small multifamily

4

$537,500

5,200

$413

No

07-Oct-15

$1,725,000

Small multifamily

3

$575,000

3,780

$456

No

17 42 Clermont Ave

18-Dec-15

$1,400,000

Small multifamily

3

$466,667

2,872

$487

No

18 45 Cumberland St

04-Dec-15

$1,153,257

Small multifamily

3

$384,419

1,500

$769

No

19 191 Carlton Ave

02-Oct-15

$480,000

Small multifamily

3

$160,000

3,544

$135

No

Address

5

www.propertyshark.com