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Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn – May 13-19, 2024

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  • 58 NYC new development contracts were signed last week, a 7% increase from the week before.
  • 77 new closings totaled $216M.
  • PPSF: Average contract asking price: $1,951 | Average closed sale price: $1,742
  • Of the 58 new dev contracts signed in NYC, 35 (+6%) were in Manhattan, 23 (+21%) were in Brooklyn, and zero were reported in Queens.


Manhattan: 35 New Contracts Totaled $146M


Number of new signed new dev contracts in Manhattan increased from 33 to 35 this week.

35 contracts were distributed across 27 buildings, and no project reported more than two contracts. 

One Manhattan Square in Two Bridges reported three contracts last week. Deals were on 1, 2 and 3BR units priced between $1.565M and $5.275M. 

Sutton Tower in Sutton Place also reported three contracts, but asking prices and bedroom counts were not disclosed. 


Brooklyn: 23 New Contracts Totaled $33M


Deal volume increased from 19 to 23 this week. These contracts were distributed across 20 projects.

1155 Bedford Avenue in Bed-Stuy reported two contracts on 1BR units asking $699K and 735K. 

H70 Condominium in Midwood reported two contracts on a 2BR units asking $629K and 669K.


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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