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Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn: June 3 - June 9, 2024

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  • 46 NYC new development contracts were signed last week, a 10% increase from the week before.
  • 94 new closings totaled $216M.
  • PPSF: Average contract asking price: $1,760 | Average closed sale price: $1,579
  • Of the 46 new dev contracts signed in NYC, 28 (-3%) were in Manhattan, 14 (+45%) were in Brooklyn, and 4 were reported in Queens.


Manhattan: 28 New Contracts Totaled $97M


Number of new signed new dev contracts in Manhattan decreased from 29 to 28 this week.

28 contracts were distributed across 20 buildings, and no project reported more than four contracts. 

The Treadwell in Lenox Hill reported four contracts last week. Deals were on 1 to 3BR units priced between $1.745M and $4.2M. 

520 Fifth Avenue in Midtown reported three contracts for 1 and 2BR units asking $1.86M to $3.555M. 


Brooklyn: 14 New Contracts Totaled $14M


Deal volume rebounded from 9 to 14 this week. These contracts were distributed across 12 projects.

174 North 6th Street in Williamsburg reported two contracts on 1BR units asking $875K and $895K. 

The Rogers Residences in Prospect Lefferts Gardens reported two contracts this week, on a studio unit and a 3BR unit, asking $495K and $1.45M.


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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