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FLUSHING A quarterly analysis of multifamily sales in Flushing, Queens 1st Quarter 2017

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

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

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

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

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

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%

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

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

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

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