Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn – March 25-March 31, 2024

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  • 79 NYC new development contracts were signed last week, a 20% increase from the week before.
  • 100 new closings totaled $250M.
  • PPSF: Average contract asking price: $1,580 | Average closed sale price: $1,552
  • Of the 79 new dev contracts signed in NYC, 28 (-32%) were in Manhattan, 34 (+62%) were in Brooklyn, and 17 (+325%) were signed in Queens.


Manhattan: 28 New Contracts Totaled $110M


Number of new signed new dev contracts in Manhattan dipped 32% from 41 last week to 28 this week.

28 contracts were distributed across 22 buildings, and no project reported more than three contracts. 

450 Washington in Tribeca reported the highest number of contracts last week. Three deals were on 1BR and 4BR units priced between $1.465M and $3.995M. 

One11 Residences in Midtown reported two contracts last week on 1BR and 2BR units asking $1.195M and $1.99M. 



Brooklyn: 34 New Contracts Totaled $48M


Deal volume rose from 21 last week to 34 this week, a 62% increase. These 34 contracts were distributed across 23 projects, with none reporting more than four contracts.

9 Chapel Street in DTBK reported four contracts, for 1BR to 4BR units, asking $1.095M and $1.995M. 

11 Hoyt in Downtown Brooklyn reported three contracts on 2BR and 3BR units asking $2.08M and $2.275M.


Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from 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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