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MORRIS HEIGHTS A quarterly analysis of multifamily sales in Morris Heights, Bronx 1st Quarter 2018
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Multifamily Market Report, 1st Quarter 2018
Multifamily Market Report, 1st Quarter 2018 Morris Heights, Bronx
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$23.4M
3
$95K
$102
2542% YoY
50% YoY
-4% YoY
-4% 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 $23M $17M
$13M $2M
$5M
$15M $6M
$2M
$2M
$266K
$2M
$5M
$145K
$885K
$6M
$680K
Average Sale Price per Unit $250K $200K
$150K $100K
$98K
$95K
$50K $
300
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2016 3 19 3 34
2017 9 3 100 36
2018 247
247
200
100 0
Q1
Q2 2016
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2016 1 3 1 3
2017 2 1 3 3
2018 7
8
2017 2 1 3 3
2018
7
4
2 0 Q1
4
Number of Transactions 2016 1 3 1 3
2017
Q4
6
Q2 2016
Quarter Q1 Q2 Q3 Q4
Q3
2017
Q4
2018
3
3
2018 3
Q3
2 1 0 Q1
Q2 2016
Q3 2017
2018
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Q4
Total Sq. Ft. 250K 200K
150K
230K
146K
109K
98K
100K
50K
219K
196K
20K
14K
36K
12K
2,739
18K
4,020
27K
8,355
32K
4,080
Average Sale Price per Square Foot $250 $200
$150 $106
$100
$102
$50
$
MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $231,667 $91,235
Y-o-Y 136% -
Avg. price/sqft $197 $98
Y-o-Y 86% -
Sales volume $1,390,000 $0 $21,987,600
Sales 2 0 1
Buildings 2 0 5
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 6 0 241
LIST OF TRANSACTIONS Address 1800 Davidson Ave 1789 Davidson Ave 1815 Davidson Ave 1822-1824 Davidson Ave 1821-1823 Davidson Ave 1656 Nelson Ave 1894 Billingsley Ter
Sale date 23-Feb-18 23-Feb-18 23-Feb-18 23-Feb-18 23-Feb-18 18-Jan-18 15-Feb-18
Sale price $21,987,600 $21,987,600 $21,987,600 $21,987,600 $21,987,600 $765,000 $625,000
Property type Large multifamily Medium multifamily Medium multifamily Medium multifamily Large multifamily Small multifamily Small multifamily
Units 67 44 40 35 55 3 3
Sqft 63,966 38,283 37,600 37,900 45,500 3,036 4,002
Price/sqft $98 $98 $98 $98 $98 $252 $156
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Pkg. deal Yes Yes Yes Yes Yes No No
