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DOWNTOWN MANHATTAN A quarterly analysis of multifamily sales in Downtown Manhattan, Manhattan 4th Quarter 2016

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

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

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 $

$1,130M

$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

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

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