NEW DEVELOPMENT CONDO REPORT
MANHATTAN
• Inventory expanded as developers filed more units than were purchased
• Developers filed five plans with a total of 369 units
• The state approved two plans with 113 units valued at $238 million
• Buyers purchased 243 units valued at $1.05 billion
SUPPLY
MANHATTAN NEW DEVELOPMENT CONDO SUPPLY
MOST EXPENSIVE CONDO PROJECTS APPROVED
| DEVELOPER | ADDRESS | TOTAL SELLOUT | UNITS |
|---|---|---|---|
| Charles Dunne & Zac Waksal | 601 Washington Street | $148,239,800 | 10 |
| Truss Development | 2600 Seventh Avenue | $90,114,100 | 103 |
Source: TRData analysis of plans approved to sell by NYS AG in June
LARGEST CONDO PROJECTS FILED
| DEVELOPER | ADDRESS | UNITS | TOTAL SELLOUT |
|---|---|---|---|
| Related Companies | One Union Square Southn(conversion) | 188 | $304,612,766 |
| Simon Baron Development | 393 West End Avenue (conversion) | 88 | $258,095,700 |
| Levi Balkany | 300 West 122nd Street | 44 | n/a |
| Forkosh Development | 157-161 East 28th Street | 43 | n/a |
Source: TRData analysis of plans submitted to the NYS AG in June
DEMAND
MONTHLY TOTAL MANHATTAN NEW DEVELOPMENT SALES VOLUME
MONTHLY MEDIAN SALES PRICE AND UNIT VOLUME IN MANHATTAN NEW DEVELOPMENT
MOST EXPENSIVE CONDO SPONSOR UNIT SALES RECORDED IN JUNE
| SPONSOR | SALE PRICE | ADDRESS | UNIT |
|---|---|---|---|
| Madison Equities,nBuilding and LandnTechnology & Thor Equities | $51,550,000 | 212 Fifth Avenue | PHA |
| Vornado Realty Trust | $39,000,000 | 220 Central Park South | V-6 |
| Vornado Realty Trust | $33,296,775 | 220 Central Park South | V-4 |
| Macklowe Propertiesn& CIM Group | $31,501,890 | 432 Park Avenue | 94 |
Source: TRData analysis of NYS AG and NYC Dept. of Finance records for units in condo projects that sold in June