- 18 new development contracts were signed last week across Manhattan and Brooklyn, totaling $36.16M in volume, a 35.7% decrease from the week before and a 65.4% decrease from a year ago.

- Of the 18 new dev contracts signed last week, 8 were in Manhattan and 10 were in Brooklyn.

- 50 new closings totaled $99.6M ($54.1M in Manhattan, $45.4M in Brooklyn).

- $/ft²: Average new-dev contract price per square foot this week: $1,773 | Average closed sale price per square foot: $1,351.

New-dev contract volume is down roughly two-thirds from this week last year in both boroughs, a sharper decline than the week-over-week numbers suggest. Last September's comparable week saw a notably active stretch for sponsor sales (23 Manhattan contracts, 29 in Brooklyn), so part of the gap partially reflects an unusually strong prior-year comp. Is it also indicative of something more? Worth watching over the next few weeks to see whether this is a one-week dip or the start of a broader slowdown as available new-dev inventory continues to thin out.

Manhattan: 8 New Contracts Totaled $15.65M

Manhattan reported 8 contracts last week, a 46.7% decrease from the previous week and a 65.2% decrease from a year ago. One building, 660 Lexington Avenue, reported two contracts.

660 Lexington Avenue in Midtown reported two contracts on 1BR and 2BR units priced at $1.95M and $3.35M.

The Monogram New York at 135 East 47th Street in Turtle Bay reported one contract on a 2BR unit priced at $2.75M.

Bloom on 45th at 500 West 45th Street in Clinton reported one contract on a 1BR unit priced at $995K.

Brooklyn: 10 New Contracts Totaled $20.51M

Brooklyn reported 10 contracts last week, a 23.1% decrease from the previous week and a 65.5% decrease from a year ago. One building, Bellrose, reported two contracts.

Bellrose at 259 22nd Street in South Slope reported two contracts on 2BR and 3BR units priced at $1.899M and $1.869M.

The Sixth at 127 Kent Avenue in Williamsburg reported one contract on a penthouse 3BR unit priced at $5.995M.

The Brick Loft at 386 Kosciuszko Street in Bedford-Stuyvesant reported one contract on a 1BR unit priced at $665K.

_{Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from Marketproof.com. Analysis and conclusions are subject to errors, omissions and revisions.}