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FLUSHING A quarterly analysis of multifamily sales in Flushing, Queens 1st Quarter 2017
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Multifamily Market Report, 1st Quarter 2017
Multifamily Market Report, 1st Quarter 2017 Flushing, Queens
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$48.9M
15
$335K
$356
-32% YoY
36% YoY
18% YoY
9% YoY
NEIGHBORHOOD BOUNDARIES
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MULTIFAMILY STATS Sales Volume $200.0M
$169M
$150.0M
$111M
$100.0M
$72M
$50.0M
$25M
$19M
$22M
$27M
$7M
$37M
$19M
$36M
$34M
$54M
$20M
$42M
$26M
$49M
$
Average Sale Price per Unit $400K $350K $300K $250K $200K $150K $100K $50K $
$335K
$284K
800
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2015 151 126 87 658
2016 252 224 121 91
600
2017 146
400
146
200 0 Q1
Q2 2015
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2015 11 21 12 19
2016 11 12 12 9
2017 15
25 20 15 10 5 0
Q2 2015
Quarter Q1 Q2 Q3 Q4
2015 11 16 10 19
2016 11 10 11 9
20
2017
Q3 2016
Q4
2017
15
15
2017 15
2016
Q4
15
Q1
Number of Transactions
Q3
10 5 0 Q1
Q2 2015
Q3 2016
2017
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Q4
Total Sq. Ft. 700K 600K 500K 400K 300K 200K 100K
647K
80K
607K
122K
188K 67K
133K
55K
27K
219K
151K
88K
63K
155K
100K
73K
138K
Average Sale Price per Square Foot $500 $400
$356
$327
$300 $200 $100 $
MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $417,173 $330,000 $292,135
Y-o-Y 8% 10%
Avg. price/sqft $460 $355 $304
Y-o-Y 11% -2%
Sales volume $19,607,138 $3,300,000 $26,000,000
Sales 13 1 1
Buildings 13 1 1
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
6%
7%
Small Medium Large
87%
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Units 47 10 89
LIST OF TRANSACTIONS Address 13604 Cherry Ave 13406 Blossom Ave 13246 A 41 Ave 15607 Sanford Ave 3630 166 St 4588 161 St 16215 46 Ave 14452 37 Ave 4110 158 St 4203 156 St 4018 196 St 4233 Saull St 3018-3020 150 St 13162 Maple Ave 3113 Linden St
Sale date 24-Jan-17 25-Jan-17 20-Mar-17 23-Jan-17 21-Mar-17 16-Mar-17 22-Mar-17 3-Feb-17 20-Mar-17 17-Mar-17 23-Feb-17 6-Jan-17 3-Jan-17 21-Feb-17 29-Mar-17
Sale price $26,000,000 $3,300,000 $2,730,000 $2,627,138 $1,610,000 $1,510,000 $1,500,000 $1,480,000 $1,470,000 $1,420,000 $1,400,000 $1,130,000 $1,100,000 $980,000 $650,000
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 Small multifamily Small multifamily Small multifamily
Units 89 10 5 7 3 4 3 3 3 3 3 4 3 3 3
Sqft 85,607 9,288 4,900 5,151 4,012 3,120 3,600 3,368 3,240 2,593 2,392 3,916 2,192 2,758 1,380
Price/sqft $304 $355 $557 $510 $401 $484 $417 $439 $454 $548 $585 $289 $502 $355 $471
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Pkg. deal No No No No No No No No No No No No No No No