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MORRIS HEIGHTS A quarterly analysis of multifamily sales in Morris Heights, Bronx 4th Quarter 2017
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Multifamily Market Report, 4th Quarter 2017
Multifamily Market Report, 4th Quarter 2017 Morris Heights, Bronx
SUMMARY SALES VOLUME
NO. OF TRANSACTIONS
AVERAGE PRICE/UNIT
AVERAGE PRICE/SQ.FT.
$6.M
3
$168K
$191
28% YoY
0% YoY
21% YoY
11% 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
$11M $2M
$7M
$17M
$15M $13M $5M
$2M
$15M $2M
$6M
$266K $2M $145K
$2M
$5M
$6M
$885K $680K
Average Sale Price per Unit $250K $200K $150K
$168K
$139K
$100K $50K $
Number of Units Sold Quarter Q1 Q2 Q3 Q4
2015 31 52 13 226
2016 3 19 3 34
2017 9 3 100 36
250 200 150 100 50 0
100 9 Q1
Q2 2015
Number of Buildings Sold Quarter Q1 Q2 Q3 Q4
2015 4 1 3 4
2016 1 3 1 3
2017 2 1 3 3
5 4 3 2 1 0
Quarter Q1 Q2 Q3 Q4
2015 4 1 3 4
2016 1 3 1 3
2017 2 1 3 3
Q3 2016
Q4
2017
3
3
2 1
Q1
Q2
Q3
2015
Number of Transactions
36
3
5 4 3 2 1 0
2016
Q4
2017
3
3
2 1
Q1
Q2 2015
Q3 2016
2017
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Q4
Total Sq. Ft. 250K 157K
147K
150K
146K
22K
109K
98K
69K
100K 50K
219K
196K
200K
20K
14K
36K
12K
2,739
18K
4,020
27K
8,355 4,080
32K
Average Sale Price per Square Foot $250 $200
$191
$173
$150 $100 $50 $
MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large
Avg. price/unit $182,667 $157,143 -
Y-o-Y 43% 9% -
Avg. price/sqft $182 $200 -
Y-o-Y 40% 0% -
Sales volume $2,740,000 $3,300,000 $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 15 21 0
LIST OF TRANSACTIONS Address 1652 University Ave 1665 Nelson Ave 1526 Sedgwick Ave
Sale date 30-Nov-17 21-Nov-17 26-Dec-17
Sale price $3,300,000 $1,640,000 $1,100,000
Property type Medium multifamily Small multifamily Small multifamily
Units 21 9 6
Sqft 16,500 11,400 3,648
Price/sqft $200 $144 $302
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Pkg. deal No No No
