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Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn: August 26 - September 1, 2024

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  • 40 NYC new development contracts were signed last week, a 33% decrease from the week before.
  • 62 new closings totaled $105M.
  • PPSF: Average contract asking price: $1,482 | Average closed sale price: $1,394
  • Of the 40 new dev contracts signed in NYC, 14 were in Manhattan, 23 were in Brooklyn, and 3 were reported in Queens.

 

Manhattan: 14 New Contracts Totaled $87M

 

Manhattan reported 14 contracts, marking a 56% decrease from the previous week.

14 contracts were distributed across nine buildings, with four projects reporting multiple contracts.

Monogram New York in Turtle Bay reported three contracts on studios and 1BR units priced between $847,600 and $1,819,100. 

Hendrix House in Kip’s Bay reported two contracts for studio and 2BR units asking $950K and $1.34M. 

 

Brooklyn: 23 New Contracts Totaled $31M

 

Deal volume increased 12% to 25 this week. These contracts were distributed across 20 projects, with only one project reporting multiple contracts.

87 Irving Place reported four deals on 2BR units, asking between $1.535M and $1.595M.

 

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 over a decade 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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