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MORRIS HEIGHTS A quarterly analysis of multifamily sales in Morris Heights, Bronx 4th Quarter 2016
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Multifamily Market Report, 4th Quarter 2016
Multifamily Market Report, 4th Quarter 2016 Morris Heights, Bronx
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$4.7M
3
$139K
$173
-87% YoY
-25% YoY
-11% YoY
8% YoY
NEIGHBORHOOD BOUNDARIES
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MULTIFAMILY STATS Sales Volume $40.0M $35.0M $30.0M $25.0M $20.0M $15.0M $10.0M $5.0M $
$35M
$2M $917K
$6M
$11M
$10M
$7M
$2M
$17M
$15M $13M $2M
$5M
$6M
$2M
$5M
$266K $2M $145K
$2M
Average Sale Price per Unit $250K $200K $155K
$150K
$139K
$100K $50K $
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2014 141 24 89 188
2015 31 52 13 226
2016 3 19 3 34
250 200 150 100 50 0
19
3 Q1
Q2
Q3
2014
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2014 8 2 1 7
2015 4 1 3 4
2016 1 3 1 3
10 8 6 4 2 0
2015
Quarter Q1 Q2 Q3 Q4
2014 8 2 1 6
2015 4 1 3 4
2016 1 3 1 3
Q4
2016
3
3
1 Q1
1 Q2
Q3
2014
Number of Transactions
34
3
10 8 6 4 2 0
2015
Q4
2016
3
3
1 Q1
1 Q2 2014
Q3 2015
2016
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Q4
Total Sq. Ft. 250K 157K
146K
150K 100K 50K
219K
196K
200K
55K 14K
6,938
147K
146K 98K
69K 22K
20K
14K
36K
12K
2,739
18K
4,020
27K
Average Sale Price per Square Foot $200
$173
$160
$150 $100 $50 $
MULTIFAMILY SIZE
Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $128,182 $143,783 -
Y-o-Y -43% -
Avg. price/sqft $130 $200 -
Y-o-Y 0% -
Sales volume $1,410,000 $3,307,000 $0
Sales 2 1 0
Buildings 2 1 0
Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)
33% Small Medium Large 67%
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Units 11 23 0
LIST OF TRANSACTIONS Address 1656 University Ave 1633 Macombs Rd 1756 Undercliff Ave
Sale date 13-Dec-16 3-Nov-16 19-Dec-16
Sale price $3,307,000 $1,050,000 $360,000
Property type Medium multifamily Small multifamily Small multifamily
Units 23 8 3
Sqft 16,500 7,892 2,944
Price/sqft $200 $133 $122
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Pkg. deal No No No
