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MORRIS PARK A quarterly analysis of multifamily sales in Morris Park, Bronx 2nd Quarter 2016

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

Multifamily Market Report, 2nd Quarter 2016

Multifamily Market Report, 2nd Quarter 2016 Morris Park, Bronx

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$4.8M

6

$193K

$210

-

-

-

-

NEIGHBORHOOD BOUNDARIES

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

MULTIFAMILY STATS Sales Volume $25.0M

$24M

$20.0M

$14M

$15.0M $10.0M $2M

$5.0M

$2M

$4M

$5M

$2M

$3M

$3M

$4M

$2M

$5M

$3M

$558K

$2M

$5M

$

Average Sale Price per Unit $250K $200K

$193K

$183K

$150K $100K $50K $

200

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2014 134 15 41 35

2015 14 151 3

150

2016 16 25

100 50

25

16

0 Q1

Q2

Q3

2014

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2014 7 4 6 10

2015 3 4 1

2016 4 6

2015

10

6

4

5 0 Q1

Q2

Q3

2015 3 4 1

2015

Q4

2016

15

Number of Transactions 2014 7 4 6 10

2016

15

2014

Quarter Q1 Q2 Q3 Q4

Q4

2016 4 6

10

6

4

5 0 Q1

Q2 2014

Q3 2015

2016

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

Q4

Total Sq. Ft. 200K

159K

153K

150K 100K 50K

12K

10K

26K

24K

13K

15K

21K

13K

26K

32K

13K

2,592

13K

23K

Average Sale Price per Square Foot $250 $200

$210

$197

$150 $100 $50 $

MULTIFAMILY SIZE

Size of Multifamily Properties Sold Multifamily size Small Medium Large

Avg. price/unit $192,958 -

Y-o-Y -

Avg. price/sqft $210 -

Y-o-Y -

Sales volume $4,823,950 $0 $0

Sales 6 0 0

Buildings 6 0 0

Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

Small Medium Large

100%

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

Units 25 0 0

LIST OF TRANSACTIONS Address 1057 Morris Park Ave 2032-2036 Lurting Ave 1651 Tomlinson Ave 1004 Rhinelander Ave 1713 Radcliff Ave 1567 Yates Ave

Sale date 5-May-16 21-Jun-16 7-Apr-16 14-Apr-16 26-May-16 5-May-16

Sale price $1,030,000 $1,000,000 $999,950 $759,000 $585,000 $450,000

Property type Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily Small multifamily

Units 5 6 3 4 3 4

Sqft 4,347 5,593 3,506 3,520 3,232 2,728

Price/sqft $237 $179 $285 $216 $181 $165

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

Pkg. deal No No Yes No No No