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Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn – May 27-June 2, 2024

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  • 42 NYC new development contracts were signed last week, a 21% decrease from the week before.
  • 77 new closings totaled $125M.
  • PPSF: Average contract asking price: $2,015 | Average closed sale price: $1,493
  • Of the 42 new dev contracts signed in NYC, 29 (+26%) were in Manhattan, 9 (-33%) were in Brooklyn, and 4 were reported in Queens.


Manhattan: 29 New Contracts Totaled $138M


Number of new signed new dev contracts in Manhattan increased from 23 to 29 this week.

29 contracts were distributed across 21 buildings, and no project reported more than four contracts. 

The Rockwell in Manhattan Valley reported four contracts last week. Deals were on 1 and 2BR units priced between $1.045M and $2.415M. 

Tribeca Green in Battery Park City reported three contracts for studio to 2BR units asking $670K to $1.615M. 


Brooklyn: 9 New Contracts Totaled $9M


Deal volume decreased substantially during the holiday week, from 24 to 9 this week. These contracts were distributed across 9 projects.

9 Chapel Street in Downtown Brooklyn reported multiple contracts on 1BR units asking $1.06M and $1.35M. 

319 Prospect Place in Prospect Heights reported the top new dev contract this week, on a 2BR units asking $1.81M.


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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