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FLUSHING A quarterly analysis of multifamily sales in Flushing, Queens 3rd Quarter 2016
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Multifamily Market Report, 3rd Quarter 2016
Multifamily Market Report, 3rd Quarter 2016 Flushing, Queens
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$41.6M
11
$343K
$417
112% YoY
10% YoY
53% YoY
37% YoY
NEIGHBORHOOD BOUNDARIES
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MULTIFAMILY STATS Sales Volume $200.0M
$169M
$150.0M
$111M
$100.0M $50.0M
$11M
$19M $28M $28M $19M
$25M $23M
$7M
$27M
$72M
$42M
$22M
$36M
$54M
$23M $20M
$42M
$
Average Sale Price per Unit $400K $350K $300K $250K $200K $150K $100K $50K $
$343K $225K
800
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2014 32 115 173 75
2015 151 86 87 658
600
2016 248 224 121
400
248
224
0 Q1
Q2 2014
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2014 9 10 22 13
2015 11 16 12 19
2016 11 12 12
25 20 15 10 5 0 Q1
Quarter Q1 Q2 Q3 Q4
2014 8 10 22 12
2015 11 11 10 19
2016 11 10 11
25 20 15 10 5 0
2015
Q2
11
Q1
Q3
12
Q3 2015
Q2
Q4
2016
11
10
2014
Q4
2016
12
11
2014
Number of Transactions
121
200
Q3 2015
2016
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Q4
Total Sq. Ft. 700K 600K 500K 400K 300K 200K 100K
646K
49K
100K
142K
188K 79K
607K
126K
190K 73K
144K
27K
61K
219K
151K 41K
64K
155K
100K
Average Sale Price per Square Foot $600 $500 $400 $300 $200 $100 $
$417 $305
MULTIFAMILY SIZE
Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $470,813 $408,696 $237,588
Y-o-Y 30% 350% -
Avg. price/sqft $468 $509 $332
Y-o-Y 25% 188% -
Sales volume $17,890,888 $9,400,000 $14,255,280
Sales 9 1 1
Buildings 10 1 1
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
9% 9% Small Medium Large
82%
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Units 38 23 60
LIST OF TRANSACTIONS Address 3733 Lawrence St 13230 Sanford Ave 13318 41 Rd 13316 41 Rd 3639 Prince St 3616 193 St 4367 161 St 14924 Roosevelt Ave 4709 159 St 3610 166 St 19020 Crocheron Ave 4649 160 St
Sale date 30-Sep-16 25-Jul-16 22-Jul-16 22-Jul-16 15-Aug-16 16-Sep-16 5-Jul-16 29-Sep-16 17-Aug-16 23-Sep-16 23-Sep-16 5-Jul-16
Sale price $14,255,280 $9,400,000 $6,180,000 $6,180,000 $3,400,000 $1,519,888 $1,500,000 $1,500,000 $1,330,000 $1,175,000 $933,000 $353,000
Property type Large multifamily Medium multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily
Units 60 23 6 6 5 3 3 3 3 3 3 3
Sqft 43,000 18,457 3,564 3,564 10,126 2,220 3,063 3,220 3,510 3,760 1,932 3,276
Price/sqft $332 $509 $867 $867 $336 $685 $490 $466 $379 $313 $483 $108
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Pkg. deal No No Yes Yes No No No No No No No No