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FLUSHING A quarterly analysis of multifamily sales in Flushing, Queens 1st Quarter 2018

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

Multifamily Market Report, 1st Quarter 2018

Multifamily Market Report, 1st Quarter 2018 Flushing, Queens

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$12.6M

5

$449K

$467

-74% YoY

-67% YoY

34% YoY

31% YoY

NEIGHBORHOOD BOUNDARIES

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

MULTIFAMILY STATS Sales Volume $200.0M

$169M

$150.0M $100.0M $50.0M

$7M

$27M

$54M

$22M

$47M

$36M

$72M

$54M

$20M

$42M

$27M

$49M

$45M

$22M

$34M

$13M

$

Average Sale Price per Unit $500K

$449K

$400K

$335K

$300K $200K

$100K $

300

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2016 252 228 121 102

2017 146 189 61 128

2018 28

200

100

28

0

Q1

Q2 2016

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2016 11 12 12 10

2017 15 12 12 9

2018 5

2017 15 11 11 9

2018

15 10

5

5 0 Q1

Q2

Q3 2017

Q4

2018

20

Number of Transactions 2016 11 10 11 10

2017

Q4

20

2016

Quarter Q1 Q2 Q3 Q4

Q3

15

2018 5

10

5

5 0 Q1

Q2 2016

Q3 2017

2018

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

Q4

Total Sq. Ft. 700K 600K 500K 400K 300K 200K 100K

607K

188K 27K

261K

82K

151K

226K

197K 83K

155K

100K

82K

138K

172K

54K

122K

27K

Average Sale Price per Square Foot $500

$467

$400

$356

$300 $200 $100

$

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

Avg. price/unit $488,125 $395,833 -

Y-o-Y 17% 20% -

Avg. price/sqft $467 $467 -

Y-o-Y 2% 31% -

Sales volume $7,810,000 $4,750,000 $0

Sales 4 1 0

Buildings 4 1 0

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

20%

Small Medium Large

80%

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

Units 16 12 0

LIST OF TRANSACTIONS Address 4324 Robinson St 3509 Leavitt St 3145 Linden Pl 3618 166 St 13417 Franklin Ave

Sale date 1-Feb-18 22-Mar-18 6-Mar-18 16-Mar-18 22-Feb-18

Sale price $4,750,000 $2,950,000 $1,680,000 $1,680,000 $1,500,000

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

Units 12 6 4 3 3

Sqft 10,168 6,114 4,800 3,040 2,760

Price/sqft $467 $482 $350 $553 $543

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

Pkg. deal No No No No No