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DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 2nd Quarter 2016

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

Multifamily Market Report, 2nd Quarter 2016

Multifamily Market Report, 2nd Quarter 2016 Downtown Manhattan, Manhattan

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$597.4M

34

$719K

$902

27% YoY

3% YoY

18% YoY

2% 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 $

$1,123M

$1,011M

$485M

$482M $224M $256M $240M

$253M

$174M

$389M $361M

$646M

$524M

$471M $463M

$597M $349M $154M

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

$719K

$607K

2000

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2014 533 490 515 1490

2015 1078 776 772 559

1500

2016 264 828

828

1000 264

500 0

Q1

Q2 2014

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2014 33 26 28 46

2015 56 38 42 37

2016 23 37

2014 30 24 28 41

2015 46 33 39 32

2016 23 34

2016

37

40

23

20 0 Q2 2014

Quarter Q1 Q2 Q3 Q4

2015

Q4

60

Q1

Number of Transactions

Q3

50 40 30 20 10 0

Q3 2015

Q4

2016

34 23

Q1

Q2 2014

Q3 2015

2016

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

Q4

Total Sq. Ft. 2.0M

1.7M

1.6M

1.5M 1.0M 500K

606K 267K

402K

330K

361K

465K

615K

835K 339K

435K

531K

402K

566K

414K

663K 221K

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

$902

$885

MULTIFAMILY SIZE

Size of Multifamily Properties Sold Multifamily size Small Medium Large

Avg. price/unit $1,921,883 $754,013 $467,486

Y-o-Y 90% 31% -23%

Avg. price/sqft $1,749 $1,184 $507

Y-o-Y 57% 27% -24%

Sales volume $126,903,852 $299,343,065 $171,100,000

Sales 12 18 4

Buildings 11 21 4

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

12% 35%

Small Medium Large

53%

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Units 65 397 366

LIST OF TRANSACTIONS Address 85-120 E 10 St 54-56 E 3 St 50-52 E 3 St 58 E 3 St 342 East 8 Street #RES 60 E 12 St 21 W 10 St 138 W 11 St 99 Suffolk St 125-127 Grand St 92-94 2 Ave 58 Elizabeth St 119 Hester St 38 W 10 St 118 2 Ave 139 Essex St 376 Bleecker St 152 W 13 St 24 Prince St 192 1 Ave 194 1 Ave 151 Norfolk St 103 St Marks Pl 329 E 10 St 4 St Marks Pl 69 Clinton St 198 W 10 St 187 Chrystie St 319 E 6 St 341 E 9 St 8 Perry St 615 E 6 St 437 E 9 St 534 E 6 St 84 2 Ave 19 Pell St 272 Canal St

Sale date 21-Apr-16 1-Apr-16 1-Apr-16 1-Apr-16 3-May-16 3-May-16 25-Apr-16 27-May-16 1-Apr-16 5-May-16 10-Jun-16 13-May-16 5-Apr-16 5-May-16 2-Jun-16 22-Apr-16 11-May-16 21-Apr-16 18-Apr-16 27-Jun-16 27-Jun-16 15-Jun-16 19-May-16 20-Jun-16 21-Apr-16 24-Jun-16 1-Jun-16 6-Apr-16 31-May-16 18-May-16 13-Apr-16 20-Apr-16 18-May-16 20-Apr-16 11-May-16 26-May-16 18-May-16

Sale price $75,400,000 $58,000,000 $58,000,000 $58,000,000 $44,000,000 $35,000,000 $31,000,000 $30,908,065 $24,550,000 $20,377,000 $19,000,000 $16,700,000 $16,500,000 $16,500,000 $16,100,000 $15,500,000 $15,500,000 $15,000,000 $13,750,000 $13,000,000 $13,000,000 $12,000,000 $11,535,000 $11,400,000 $10,000,000 $8,800,000 $8,250,000 $8,000,000 $7,920,400 $7,000,000 $6,850,000 $6,350,000 $6,000,000 $5,650,000 $5,125,000 $3,700,000 $1,981,452

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

Units 107 24 24 24 71 137 10 10 36 8 22 51 29 8 24 18 4 3 8 10 10 35 23 10 5 18 8 17 3 16 3 10 17 9 6 10 2

Sqft 117,012 16,038 17,310 13,620 65,832 124,630 8,589 9,941 26,600 14,800 19,894 29,680 17,025 6,016 16,060 9,150 4,106 4,508 7,987 6,452 6,820 22,404 13,405 7,100 10,036 6,705 3,450 8,540 4,748 6,285 3,800 7,860 7,240 5,876 4,812 5,860 2,400

Price/sqft $644 $1,235 $1,235 $1,235 $668 $281 $3,609 $3,109 $923 $1,377 $955 $563 $969 $2,743 $1,002 $1,694 $3,775 $3,327 $1,722 $980 $980 $536 $860 $1,606 $996 $1,312 $2,391 $937 $1,668 $1,114 $1,803 $808 $829 $962 $1,065 $631 $826

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