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DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 3rd Quarter 2017
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Multifamily Market Report, 3rd Quarter 2017
Multifamily Market Report, 3rd Quarter 2017 Downtown Manhattan, Manhattan
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$288.8M
17
$694K
$1,156
-57% YoY
-45% YoY
23% YoY
63% YoY
NEIGHBORHOOD BOUNDARIES
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MULTIFAMILY STATS Sales Volume $1,200.0M $1,000.0M $800.0M $600.0M $400.0M $200.0M $
$1,028M $561M $227M $296M
$314M
$646M $425M $369M $365M
$649M $665M $471M $465M
$353M
$246M $193M $278M$289M
$154M
Average Sale Price per Unit $800K $700K $600K $500K $400K $300K $200K $100K $
$694K $565K
1500
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2015 1078 776 777 563
2016 264 917 1168 394
2017 273 405 416
1000
0 Q1
Q2 2015
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2015 56 38 41 36
2016 23 38 32 17
2017 14 24 18
Quarter Q1 Q2 Q3 Q4
2015 46 33 38 32
2016 23 35 31 16
2017 14 24 17
Q3 2016
Q4
2017
60 40
24
14
20
18
0 Q1
Q2 2015
Number of Transactions
416
405
273
500
50 40 30 20 10 0
Q3 2016
2017
24
17
14
Q1
Q2 2015
Q4
Q3 2016
2017
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Q4
Total Sq. Ft. 2.0M
1.7M
1.5M
951K
1.0M 500K
349K
468K
555K
835K 532K
457K
531K
389K
596K
426K
649K 221K
940K 220K
217K
291K
250K
Average Sale Price per Square Foot $1,400 $1,200 $1,000 $800 $600 $400 $200 $
$1,156 $708
MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $1,496,711 $568,041 $788,462
Y-o-Y 6% 18% 51%
Avg. price/sqft $1,460 $1,109 $1,077
Y-o-Y -7% 34% 80%
Sales volume $56,875,000 $170,412,204 $61,500,000
Sales 5 11 1
Buildings 6 11 1
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
6% 29% Small Medium Large 65%
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Units 38 300 78
LIST OF TRANSACTIONS Address 43-45 White St 59-63 E 3 St 74 Franklin St 41 White St 331 E Houston St 107 St Marks Pl 159 1/2 7 Ave S 307-309 Mott St 236-238 W 10 St 145-147 W 10 St 70-72 Laight St 77 Jane St 128 1 Ave 130 1 Ave 137 Thompson St 321 W 11 St 11 Essex St 197 Madison St 69 Horatio St 153 Avenue B 27 Avenue C 115 Division St
Sale date 13-Jul-17 13-Jul-17 13-Jul-17 13-Jul-17 14-Jul-17 8-Aug-17 10-Jul-17 5-Jul-17 10-Aug-17 20-Jul-17 10-Aug-17 26-Sep-17 22-Sep-17 22-Sep-17 23-Aug-17 7-Sep-17 15-Aug-17 3-Aug-17 27-Sep-17 19-Jul-17 11-Jul-17 14-Jul-17
Sale price $141,500,000 $141,500,000 $141,500,000 $141,500,000 $61,500,000 $30,449,204 $24,991,000 $22,112,000 $21,000,000 $18,000,000 $17,750,000 $13,250,000 $12,250,000 $12,250,000 $12,000,000 $11,625,000 $11,400,000 $9,200,000 $7,000,000 $6,625,000 $5,235,000 $4,400,000
Property type Medium multifamily Large multifamily Small multifamily Small multifamily Large multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily
Units 20 82 5 8 78 48 27 42 37 25 6 3 9 10 18 20 24 24 4 6 25 10
Sqft 33,500 28,314 9,796 12,000 57,128 25,610 17,826 16,100 20,073 16,800 12,500 4,080 5,765 5,745 9,583 10,400 8,506 11,321 4,432 6,440 9,960 7,535
Price/sqft $559 $559 $559 $559 $1,077 $1,189 $1,402 $1,373 $1,046 $1,071 $1,420 $3,248 $1,064 $1,064 $1,252 $1,118 $1,340 $813 $1,579 $1,029 $526 $584
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Pkg. deal Yes Yes Yes Yes No No No No No No No No Yes Yes No No No No No No No No
