Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn – April 22-28, 2024

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  • 52 NYC new development contracts were signed last week, a 7% decrease from the week before.
  • 96 new closings totaled $218M.
  • PPSF: Average contract asking price: $1,913  |  Average closed sale price: $1,564
  • Of the 52 new dev contracts signed in NYC, 28 (+0%) were in Manhattan, 21 (-25%) were in Brooklyn, and 4 were reported in Queens.

 

Manhattan: 28 New Contracts Totaled $138M

Number of new signed new dev contracts in Manhattan remained unchanged at 28 this week.

28 contracts were distributed across 21 buildings, and no project reported more than four contracts. 

200 East 75th Street on the Upper East Side reported the highest number of contracts last week. Four deals were on 2 to 6BR units priced between $3.4M and $10.8M. 

Eastlight in Kips Bay reported two contracts on studio and 1BR units asking $938K and $1.3M. 

 

Brooklyn: 21 New Contracts Totaled $32M

Deal volume decreased from 28 last week to 21 this week. These 21 contracts were distributed across 18 projects.

110 North First in Williamsburg reported two contracts, on 2 and 3BR units, asking $1.96M and $3.125M. 

747 Dean Street in Prospect Heights reported two contracts on a 2BR garden unit and a 3BR units asking $2.495M and $1.975M respectively.

 

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.

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With decades of expertise in Manhattan and Brooklyn, Brandon Mason looks forward to providing you with a real estate experience that is second to none. Feel free to explore our website, and contact Brandon with any questions you may have.

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