Weekly New Development Market Update for Manhattan and Brooklyn: April 28 - May 4, 2025

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Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn: April 28 - May 4, 2025

84 new closings totaled $241.08M.

PPSF: Average contract asking price: $1,935 | Average closed sale price: $1,645.

Of the 42 new dev contracts signed in NYC, 26 were in Manhattan, 11 were in Brooklyn, and 5 were reported in Queens.

Manhattan: 26 New Contracts Totaled $96.72M

Manhattan reported 26 contracts, marking a 44.68% decrease from the previous week. Contracts were distributed across 18 buildings, with five projects reporting multiple contracts.

Monogram New York in Turtle Bay reported four contracts on Studio and 1BR units priced between $968K and $1.617M.

255 East 77 in Upper East Side reported three contracts on 3BR units priced between $4.800M and $4.950M.

The Towers of the Waldorf Astoria in Midtown reported two contracts on 1BR units priced at $3.425M and $3.500M.

Brooklyn: 11 New Contracts Totaled $13.53M

Deal volume decreased by 50% to 11 this week. These contracts were distributed across 11 projects.

171n1 in Williamsburg reported one contract on 1BR unit priced at $999K.

177 Greenpoint Ave in Greenpoint reported one contract on 3BR units priced at $1.950M.

Benson House Condominium in Bensonhurst reported one contract on 1BR units priced at $711K.

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