Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn – March 18-March 24, 2024

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  • 66 NYC new development contracts were signed last week, a 6% increase from the week before.
  • 68 new closings totaled $123M.
  • PPSF: Average contract asking price: $1,854--> Average closed sale price: $1,442
  • Of the 66 new dev contracts signed in NYC, 41 (+17%) were in Manhattan, 21 (-40%) were in Brooklyn, and 4 (-67%) were signed in Queens.


Manhattan: 41 New Contracts Totaled $219M

Number of new signed new dev contracts in Manhattan rose 17% from 35 last week to 41 this week.

41 contracts were distributed across 25 buildings, and no project reported more than three contracts. 

Tribeca Green in the Battery Park City reported the highest number of contracts last week. Four deals were four 1BR and 2BR units priced between $895K and $1.57M. 

125 Perry Street in the West Village also reported three contracts lasted week on 3BR to 5BR units last asking between $22.5M and $57.5M. 


Brooklyn: 21 New Contracts Totaled $37M

Deal volume rose from 15 last week to 21 this week, a 40% increase. These 21 contracts were distributed across 16 projects, with none reporting more than three contracts.

11 Hoyt in Downtown Brooklyn reported three contracts on 2BR and 3BR units asking $2.6M and $4.3M.

601 Baltic Street in Boerum Hill reported two contracts, both for 1BR units, asking $995K and $1.025M. 

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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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