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DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 3rd Quarter 2016
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Multifamily Market Report, 3rd Quarter 2016
Multifamily Market Report, 3rd Quarter 2016 Downtown Manhattan, Manhattan
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$643.M
30
$550K
$689
39% YoY
-23% YoY
-8% YoY
-16% YoY
NEIGHBORHOOD BOUNDARIES
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MULTIFAMILY STATS Sales Volume $1,200.0M $1,000.0M $800.0M $600.0M $400.0M $200.0M $
$1,123M
$1,011M
$485M
$482M $224M $256M $240M
$253M
$174M
$389M $361M
$646M
$520M
$471M $463M
$597M$643M $349M $154M
Average Sale Price per Unit $1.2M $1.0M $800K $600K $400K $200K $
$600K
2000
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2014 533 490 511 1490
2015 1078 776 772 559
1500
2016 264 828 1160
Number of Buildings Sold 2014 33 26 27 46
2015 56 38 42 37
2016 23 37 31
264
500 0
Q1
Q2
Quarter Q1 Q2 Q3 Q4
2014 30 24 27 41
2015 46 33 39 32
2016 23 34 30
Q3 2015
Q4
2016
60 37
40
31
23
20 0 Q1
Q2 2014
Number of Transactions
1160
828
1000
2014
Quarter Q1 Q2 Q3 Q4
$550K
50 40 30 20 10 0
Q3 2015
2016
34
30
23
Q1
Q2 2014
Q4
Q3 2015
2016
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Q4
Total Sq. Ft. 2.0M
1.7M
1.6M
1.5M 1.0M 500K
606K 267K
405K
330K
361K
469K
615K
835K 339K
435K
531K
399K
566K
663K
414K
934K
221K
Average Sale Price per Square Foot $1,400 $1,200 $1,000 $800 $600 $400 $200 $
$818
$689
MULTIFAMILY SIZE
Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $1,232,670 $480,477 $523,610
Y-o-Y 15% -25% 87%
Avg. price/sqft $1,361 $826 $599
Y-o-Y 27% -14% 75%
Sales volume $80,192,840 $141,260,166 $421,506,216
Sales 10 18 2
Buildings 10 18 2
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
7% 33% Small Medium Large 60%
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Units 61 294 805
LIST OF TRANSACTIONS Address 63 Wall St 67-75 Wall St 121 Chambers St 182 Waverly Pl 184 Waverly Pl 13 Christopher St 44 Grand St 3 E 3 St 79 Rivington St 41 King St 125 Rivington St 49-51 Prince St 51 W 11 St 19 Eldridge St 332 E 9 St 325 Canal St 237 Elizabeth St 552 Broome St 350 E 13 St 239 Elizabeth St 139 Mulberry St 94 St Marks Pl 197 E 3 St 35 E 7 St 11 E 7 St 31 E 1 St 251 E 10 St 62 Greenwich Ave 154 E 7 St 210 Avenue B 81 Madison St
Sale date 30-Sep-16 30-Sep-16 16-Aug-16 26-Sep-16 26-Sep-16 10-Aug-16 8-Jul-16 12-Aug-16 15-Sep-16 20-Sep-16 1-Sep-16 30-Aug-16 15-Sep-16 4-Aug-16 25-Aug-16 28-Jul-16 11-Jul-16 9-Aug-16 10-Aug-16 9-Aug-16 15-Jul-16 12-Aug-16 4-Aug-16 28-Jul-16 25-Jul-16 23-Sep-16 26-Jul-16 27-Jul-16 23-Sep-16 23-Sep-16 17-Aug-16
Sale price $239,114,604 $182,391,612 $16,200,000 $14,000,000 $14,000,000 $12,450,000 $12,100,000 $11,500,000 $10,600,000 $10,250,000 $9,800,000 $8,742,500 $8,500,000 $7,700,000 $7,500,000 $7,250,000 $7,250,000 $7,100,000 $7,000,000 $7,000,000 $6,550,000 $6,400,000 $6,300,000 $6,200,000 $5,750,000 $5,381,394 $5,000,000 $5,000,000 $3,936,272 $3,192,840 $2,800,000
Property type Large multifamily Large multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily Small multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily Small multifamily Medium multifamily Small multifamily Medium multifamily
Units 482 323 10 7 6 10 17 4 17 4 5 30 19 26 22 6 8 11 10 11 21 12 17 5 8 21 10 2 10 8 20
Sqft 400,531 303,175 18,500 2,537 5,985 8,280 10,150 3,140 8,261 5,298 11,141 16,388 8,628 9,475 9,546 5,456 5,312 8,470 8,090 7,670 10,000 7,020 7,803 5,520 7,430 7,495 9,015 2,880 6,794 4,226 9,446
Price/sqft $597 $602 $876 $1,643 $1,643 $1,504 $1,192 $3,662 $1,283 $1,935 $880 $533 $985 $813 $786 $1,329 $1,365 $838 $865 $913 $655 $912 $807 $1,123 $774 $718 $555 $1,736 $579 $756 $296
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Pkg. deal No No No Yes Yes No No No Yes No No No No No No No No No No No No No No No No No No No No No No
