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DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 4th Quarter 2016
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Multifamily Market Report, 4th Quarter 2016
Multifamily Market Report, 4th Quarter 2016 Downtown Manhattan, Manhattan
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$246.3M
16
$625K
$1,135
-29% YoY
-50% YoY
0% YoY
35% 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 $
$1,130M
$1,011M
$485M
$482M $253M
$174M
$224M $256M $240M
$389M $361M
$646M
$520M
$471M $463M
$597M $665M $349M
$246M
$154M
Average Sale Price per Unit $1.2M $1.0M $800K $600K $400K $200K $
$625K
$624K
2000
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2014 533 490 511 1490
2015 1078 776 772 559
1500
2016 264 828 1168 394
394
264
500 0
Q1
Q2 2014
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2014 33 26 27 46
2015 56 38 42 37
2016 23 37 32 17
Quarter Q1 Q2 Q3 Q4
2014 30 24 27 41
2015 46 33 39 32
2016 23 34 31 16
Q3 2015
Q4
2016
60 37
40
32
23
17
20 0 Q1
Q2 2014
Number of Transactions
1168
828
1000
50 40 30 20 10 0
Q3 2015
2016
34
31
23
Q1
Q4
16
Q2 2014
Q3 2015
2016
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Q4
Total Sq. Ft. 2.0M
1.8M
1.6M
1.5M 1.0M 500K
606K 267K
405K
330K
361K
469K
615K
940K
835K 339K
435K
531K
399K
566K
414K
607K 221K
217K
Average Sale Price per Square Foot $1,400 $1,200 $1,000 $800 $600 $400 $200 $
$1,135 $843
MULTIFAMILY SIZE
Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $1,572,214 $526,464 $674,766
Y-o-Y 32% -2% -
Avg. price/sqft $1,966 $1,012 $1,172
Y-o-Y 100% 26% -
Sales volume $34,588,700 $139,513,000 $72,200,000
Sales 4 11 1
Buildings 4 12 1
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
6% 25% Small Medium Large
69%
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Units 22 265 107
LIST OF TRANSACTIONS Address 85-120 E 10 St 59-61 Thompson St 629-631 E 5 St 24-26 Jane St 388 Broome St 65 Spring St 58 St Marks Pl 530 E 5 St 221 E 10 St 51 Mac Dougal St 81 Charles St 34 1/2 St Marks Pl 43 Mott St 45 Mott St 301 E 10 St 264 E 7 St 166 Suffolk St
Sale date 21-Nov-16 28-Oct-16 7-Nov-16 19-Oct-16 30-Nov-16 1-Nov-16 17-Nov-16 17-Oct-16 17-Nov-16 22-Dec-16 14-Dec-16 28-Oct-16 16-Nov-16 16-Nov-16 17-Nov-16 22-Dec-16 20-Dec-16
Sale price $72,200,000 $21,055,000 $16,232,000 $15,700,000 $15,200,000 $14,500,000 $12,326,000 $10,350,000 $10,025,000 $9,850,000 $9,000,000 $8,300,000 $8,275,000 $8,275,000 $8,000,000 $7,738,700 $7,550,000
Property type Large multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily Medium multifamily Medium multifamily Small multifamily Small multifamily Medium multifamily
Units 107 36 24 34 29 10 20 10 26 6 7 12 31 14 6 3 19
Sqft 61,612 15,918 18,523 13,341 14,931 7,690 10,905 12,350 10,470 5,240 4,040 7,692 10,700 7,946 4,615 3,696 7,425
Price/sqft $1,172 $1,323 $876 $1,177 $1,018 $1,886 $1,130 $838 $957 $1,880 $2,228 $1,079 $444 $444 $1,733 $2,094 $1,017
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Pkg. deal No No No No No No No No No No No No Yes Yes No No No