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DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 2nd Quarter 2018

P: 718-715-1758 www.PropertyShark.com [email protected]

Multifamily Market Report, 2nd Quarter 2018

Multifamily Market Report, 2nd Quarter 2018 Downtown Manhattan, Manhattan

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$232.6M

24

$855K

$1,038

-16% YoY

0% YoY

25% YoY

9% YoY

NEIGHBORHOOD BOUNDARIES

P: 718-715-1758 www.PropertyShark.com [email protected]

MULTIFAMILY STATS Sales Volume $1,200.0M $1,000.0M $800.0M $600.0M $400.0M $200.0M $

$1,083M

$621M

$646M

$587M

$519M $483M

$366M

$704M $665M

$394M

$592M $332M

$246M $193M $278M $289M

$154M

$233M

Average Sale Price per Unit $1.2M $1.0M $800K $600K $400K $200K $

$855K

$686K

1500

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2016 263 864 1170 394

2017 273 405 416 877

2018 556 272

1000

556 272

500

0 Q1

Q2

2016

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2016 23 39 32 17

2017 14 24 18 27

2018 30 25

50 40 30 20 10 0

30

Q1

40

Q2

Quarter Q1 Q2 Q3 Q4

2016 23 36 31 16

2017 14 24 17 23

29

30

2018 29 24

2017

Q4

2018

25

2016

Number of Transactions

Q3

Q3 2017

Q4

2018

24

20

10 0 Q1

Q2 2016

Q3 2017

2018

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Q4

Total Sq. Ft. 2.0M 1.5M

1.0M

1.8M 964K 575K

785K

835K

591K

622K

691K

500K

680K

940K

221K

748K

217K

221K

291K

250K

477K

224K

Average Sale Price per Square Foot $1,400 $1,200 $1,000 $800 $600 $400 $200 $

$1,038

$953

MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large

Avg. price/unit $1,861,569 $582,149 -

Y-o-Y 25% -3% -

Avg. price/sqft $1,846 $752 -

Y-o-Y 61% -18% -

Sales volume $107,971,000 $124,579,866 $0

Sales 11 13 0

Buildings 11 14 0

Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

46% 54%

Small Medium Large

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Units 58 214 0

LIST OF TRANSACTIONS Address 27-28 Washington Sq N 111 E Twelfth St 113 E Twelfth St 37-39 Perry St 265 W Eleventh St 24 St Marks Pl 174-176 First Ave 77-79 Madison St 131 Charles St 121 W Washington Plce 151 Avenue A 684 Greenwich St 215 E Twelfth St 84 Second Ave 38 Ludlow St 150 E Broadway 203 E Seventh St 102 Suffolk St 116 St Marks Pl 106 Avenue B 207 E Fourth St 187 E Seventh St 244-246 Elizabeth St 544 E 13th St 377 E Tenth St

Sale date 21-Jun-18 29-Jun-18 29-Jun-18 14-Jun-18 19-Jun-18 3-May-18 17-May-18 25-Apr-18 18-Jun-18 2-Apr-18 27-Jun-18 12-Apr-18 29-May-18 16-May-18 9-May-18 15-Jun-18 9-May-18 18-May-18 22-May-18 18-May-18 18-May-18 18-May-18 8-Jun-18 4-Jun-18 4-Jun-18

Sale price $45,000,000 $20,000,000 $20,000,000 $17,500,000 $15,500,000 $12,900,000 $12,050,000 $12,000,000 $10,486,000 $9,750,000 $9,500,000 $8,785,000 $8,500,000 $7,800,000 $7,100,000 $6,350,000 $6,250,000 $5,500,000 $5,000,000 $3,100,000 $3,000,000 $2,400,000 $1,702,210 $1,423,033 $954,623

Property type Medium multifamily Medium multifamily Small multifamily Small multifamily Small multifamily Medium multifamily Small multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Small multifamily Small multifamily Small multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Small multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily

Units 28 11 5 4 5 17 9 30 3 3 10 6 5 6 18 9 4 18 4 10 11 10 20 14 12

Sqft 32,409 8,322 8,317 6,750 3,744 12,374 9,384 21,274 2,362 4,400 9,634 4,875 5,024 4,812 7,350 6,225 5,446 9,858 5,479 7,810 7,166 5,220 14,275 10,888 10,715

Price/sqft $1,389 $1,202 $1,202 $2,593 $4,140 $1,043 $1,284 $564 $4,439 $2,216 $986 $1,802 $1,692 $1,621 $966 $1,020 $1,148 $558 $913 $397 $419 $460 $119 $131 $89

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Pkg. deal No Yes Yes No No No No No No No No No No No No No No No No No No No No No No