Manhattan Condos - New Developments - Conversions - Resales

Manhattan New Developments Market Report: First Quarter 2012

Manhattan New Developments Market Report: 1Q-2012 (77 Reade)Manhattan New Developments Market Report: 1Q-2012 (350 West Broadway)

Manhattan New Developments


New development supply has diminished substantially, particularly at the high-end of the market, impacting sales and price statistics. While most properties that have been on the market continue to absorb steadily, newly introduced developments in prime locations are absorbed rapidly but since a number of properties haven’t begun closings, these sales are not reflected here.

Compared to a year ago, median price declined 13% to $990,000, due to a 9% decline in three-plus bedroom median price, a 30% decline in Downtown median price and increased share of one-bedroom sales both Uptown and Downtown. Average price per square foot increased 8% from a year ago to $1,231 due to notable increases on the East and West Sides.

 

Manhattan New Developments Market Report: 1Q-2012

 

Currently there are approximately 325 active new construction and new conversion listings for sale throughout Manhattan. They range from $199,000 for a 455 square foot studio at The Capstone in Harlem to a 6,883 square foot 60th floor penthouse at The Setai on Fifth Avenue in midtown Manhattan asking $32 million.

As always, I will continue to follow closely sales activity and trends in Manhattan new developments (new construction and conversions), and would welcome the opportunity to answer any questions about this report, new developments or the market in general.

I’m very happy to discuss new development opportunities in each neighborhood, price point and room count. I'm ready to provide you with expertise and seasoned insight. Looking forward to hearing from you.

Manhattan New Development Listings

 

 
   

________________

©Mitchell Hall 2006-2016

All content/images, unless noted, are the property of Mitchell Hall & may not be used without permission. 

Blogging about Manhattan Real Estate since 2006

Mitchell Hall (Licensed as Mitchell J Hall)

Licensed Associate Real Estate Broker
Office (212) 877-6268 | iPhone (917) 312-0924
MHALL@Corcoran.com

Manhattan Seller | Manhattan Buyer | New Developments | Market Reports | Neighborhoods

 

My Google Profile

Corcoran Group         Google +

 
          Call Mitchell Hall @ 347-921 HALL (4255)
Comment balloon 4 commentsMitchell J Hall • April 07 2012 11:23AM
Manhattan New Developments Market Report: First Quarter 2012
share
Manhattan New Developments New development supply has diminished substantially, particularly at the high-end of the market, impacting sales and price statistics. While most properties that have been on the market continue to absorb… more
Manhattan Lofts Market Report First Quarter 2012
share
Manhattan Loft Market Loft pricing was up from both last quarter and one year ago. Loft median price increased 17% from a year ago and 4% from last quarter to $1. 785 million due to median price gains in the 1, 000-1, 500 and 2, 000-2, 500… more
Manhattan Luxury Market Report | First Quarter 2012
share
Manhattan Luxury Market Report Manhattan’s luxury market is defined as the top 10% of all co-op and condo transactions. During First Quarter 2012, an international buyer set a new Manhattan sales record with a purchase price of $88 million… more
PUBLIC RELATIONS V. ADVERTISING
share
PUBLIC RELATIONS V. ADVERTISING Public relations is a business tool that often gets confused with marketing and advertising Barbara Corcoran the founder of The Corcoran Group used public relations to turn a small start-up real estate firm… more
Manhattan Market Report Fourth Quarter 2011
share
Manhattan Market Reports Although sales experienced a seasonal slowing in the Fourth Quarter, the value of Manhattan real estate continues to be stable. Overall, the average price per square foot in Manhattan was off only 1% from last… more
REASONS TO BUY NEW CONSTRUCTION IN MANHATTAN in 2012
share
The Aldyn TOP 10 REASONS TO BUY NEW CONSTRUCTION IN MANHATTAN 1 THERE HAS NEVER BEEN A BETTER TIME With fewer developments on the market, interest rates at… more
Have Yourself a Merry Christmas!
share
Have Yourself A Merry Christmas and a Happy Holiday Season. All my best wishes for a happy healthy and prosperous New Year! Hope to see you in Manhattan in 2012! Enjoy Some Manhattan Christmas Holiday… more
The Boulevard - 2373 Broadway - Upper West Side Condop
share
The Boulevard | 2373 Broadway The moment you step into the lobby at The Boulevard, my residence, and walk across the floors of Verdi Imperiale and Belgiun marble of green and black offset by Australian lacewood walls, with soaring… more
Upper West Side Market Report
share
UPPER WEST SIDE MARKET REPORT RESALES Resale co-op pricing on the West Side decreased from both Second Quarter 2011 and Third Quarter 2010 Me di an price dipped 4% from last quarter and 9% from a year ago while average price dropped 5… more
NYC Urban Umbrella | 21st Century Scaffolding
share
(Photo Credit: Edward Reed) A Welcome Change from Conventional Scaffolding New York City unveiled the first prototype of the Urban Umbrella the… more