6
DOWNTOWN FLUSHING A quarterly analysis of multifamily sales in Downtown Flushing, Queens 2nd Quarter 2018
P: 718-715-1758 www.PropertyShark.com
[email protected]
Multifamily Market Report, 2nd Quarter 2018
Multifamily Market Report, 2nd Quarter 2018 Downtown Flushing, Queens
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$118.7M
6
$297K
$331
353% YoY
50% YoY
30% YoY
22% YoY
NEIGHBORHOOD BOUNDARIES
P: 718-715-1758 www.PropertyShark.com
[email protected]
MULTIFAMILY STATS Sales Volume $160.0M $140.0M $120.0M $100.0M $80.0M $60.0M $40.0M $20.0M $
$135M
$119M $64M
$2M
$16M
$1M
$7M
$27M $2M
$9M
$33M
$35M
$33M
$26M
$5M
$2M
$920K
$11M
Average Sale Price per Unit $700K $600K $500K $400K $300K $200K $100K $
$297K
$228K
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2016 233 151 100 11
2017 114 115 8 9
2018 25 400
500 400 300 200 100 0
400
25 Q1
Q2
2016
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2016 6 3 5 1
2017 6 5 2 2
2018 4 6
8
2017
2016 6 3 4 1
2017 6 4 2 2
4 2 0
Q2
8
Q3 2017
Q4
2018
6
6
2018 4 6
2018
4
2016
Quarter Q1 Q2 Q3 Q4
Q4
6
6
Q1
Number of Transactions
Q3
4
4
2 0 Q1
Q2 2016
Q3 2017
2018
P: 718-715-1758 www.PropertyShark.com
[email protected]
Q4
Total Sq. Ft. 600K 500K 400K 300K 200K 100K
496K 359K 208K
155K 8,518
3,690
13K
3,696
64K
35K
104K
79K
108K 9,261
96K
8,400
7,135
24K
Average Sale Price per Square Foot $700 $600 $500 $400 $300 $200 $100 $
$331
$271
MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $376,111 $300,000 $294,382
Y-o-Y -28% 125% 24%
Avg. price/sqft $428 $302 $332
Y-o-Y 1% 53% 21%
Sales volume $3,385,000 $10,500,000 $104,800,000
Sales 2 1 3
Buildings 2 1 3
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
33%
Small Medium
50%
Large
17%
P: 718-715-1758 www.PropertyShark.com
[email protected]
Units 9 35 356
LIST OF TRANSACTIONS Address 13225-13245 Maple Ave 13257 Sanford Ave 14227 Barclay Ave 4204 Saull St 14220 Sanford Ave 13818 Elder Ave
Sale date 21-Jun-18 21-Jun-18 21-May-18 29-May-18 15-May-18 26-Apr-18
Sale price $51,100,000 $40,400,000 $13,300,000 $10,500,000 $2,400,000 $985,000
Property type Large multifamily Large multifamily Large multifamily Medium multifamily Small multifamily Small multifamily
Units 180 126 50 35 6 3
Sqft 161,520 113,348 40,991 34,807 4,584 3,328
Price/sqft $316 $356 $324 $302 $524 $296
P: 718-715-1758 www.PropertyShark.com
[email protected]
Pkg. deal No No No No No No
