Sheepshead Bay Report

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Sheepshead Bay Report Sheepshead Bay 4TH QUARTER 2015 in Sheepshead Bay, Brooklyn

Sheepshead Bay Report A quarterly analysis of multifamily sales in Sheepshead Bay, Brooklyn 4TH QUARTER 2015

Borough

Neighborhood

Brooklyn Sheepshe ad Bay

Year

2015

Quarter

4

Multifamily Market Report, Q4 2015 Sheepshead Bay, Brooklyn

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS 15

$34M

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ. FT.

$273K $

$34M

15

$273K

$251

-40% Y-o-Y

15% Y-o-Y

20% Y-o-Y

12% Y-o-Y

COMMUNITY DISTRICT BOUNDARIES

2

www.propertyshark.com

251

MULTIFAMILY STATS Sales Volume $100 M

$87 M

$80 M $60 M

$42 M

$30 M

$40 M $20 M

$4 M

$M

$8 M

$11 M

$9 M

$20 M

$20 M

$57 M

$49 M

$45 M

$34 M

$26 M

$19 M

$3 M

Total Sq. Ft. 400K 350K 300K 250K 200K 150K 100K 50K 0

352K 209K

194K 110K 20K

39K

44K

62K

85K

251K 186K

174K

135K

97K

79K

10K

Average Sale Price per Unit $350K $300K $250K $200K $150K $100K $50K 0

$273K

$228K

Number of Units Sold

400

Quarter Q1

2013 60

2014 375

2015 203

Q2

14

88

90

Q3

89

239

218

Q4

190

248

124

300 218

203

200

124

90

100 0 Q1

Q2

Q3

2013

Number of Buildings Sold

2014

Q4

2015

30 25

Quarter Q1

2013 11

2014 18

2015 19

Q2

4

23

18

Q3

24

15

18

Q4

23

13

15

19

20

18

18

15

15 10 5 0 Q1

Number of Transactions

Q2 2013

2014

Q3 2015

Q4

30 25

2013 11

2014 17

2015 19

20

Q2

4

22

18

10

Q3

24

12

16

5

Q4

23

13

15

0

Quarter Q1

19

18

Q1

Q2 2013

3

16

15

www.propertyshark.com

Q3 2014

2015

15

Q4

Average Price per Square Foot $350 $300 $250 $200 $150 $100 $50 $0

$251

$225

MULTIFAMILY SIZE Size of Multifamily Properties Sold

Multifamily size Small

Large

Average price per unit

Average price per sq. ft.

Small

Price $351,893

Y-o-Y 35%

Price $362

Y-o-Y 28%

Medium

n/a

n/a

n/a

n/a

No. of sales

No. of buildings

Total Sq. Ft.

$18,298,450

50,598

14

14

52

n/a

n/a

n/a

n/a

n/a

84,375

1

1

72

$216,667 -8% $185 -21% $15,600,000 Large Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

Number of Sold Buildings by Size

Large 58.1%

Small 41.9%

4

No. of units

Sales volume

www.propertyshark.com

41.9%

58.1%

17

LIST OF TRANSACTIONS Sale date

Sale price

Property type

Units

Price per unit

Sq. Ft.

Price per Sq. Ft.

05-Nov-15 15-Oct-15

$15,600,000 $15,000,000

Large multifamily Small multifamily

72 3

$216,667 $576,923

84,375 2,496

$185 $647

Package deal No Yes

3 2785 E 15 St

15-Oct-15

$15,000,000

Small multifamily

4

$576,923

3,003

$647

Yes

4 1841-1843 Ocean Pkwy

20-Oct-15

$4,300,000

Small multifamily

3

$1,433,333

5,270

$816

No

5 1736 E 4 St

20-Oct-15

$1,450,000

Small multifamily

6

$241,667

5,513

$263

No

6 1944 E 17 St

21-Dec-15

$1,376,000

Small multifamily

3

$458,667

3,240

$425

No

7 2042 E 8 St

25-Nov-15

$1,310,000

Small multifamily

3

$436,667

3,769

$348

No

8 1719 Voorhies Ave

15-Oct-15

$1,300,000

Small multifamily

6

$216,667

4,224

$308

No

9 2323 Avenue Z

13-Oct-15

$1,240,000

Small multifamily

6

$206,667

5,040

$246

No

10 1711 Avenue V

19-Nov-15

$1,227,000

Small multifamily

3

$409,000

2,728

$450

No

11 1815 E 16 St

11-Dec-15

$1,035,600

Small multifamily

3

$345,200

3,630

$285

No

12 4436 Bedford Ave

30-Dec-15

$994,850

Small multifamily

3

$331,617

2,530

$393

No

13 306 Gravesend Neck Rd

01-Dec-15

$960,000

Small multifamily

3

$320,000

2,968

$323

No

14 2331 West St

01-Dec-15

$930,000

Small multifamily

3

$310,000

2,920

$318

No

15 2462 E 23 St 16 2215 Ocean Ave

03-Nov-15

$875,000

Small multifamily

3

$291,667

3,596

$243

No

20-Oct-15

$750,000

Small multifamily

4

$187,500

3,280

$229

No

17 1855 Stuart St

17-Dec-15

$550,000

Small multifamily

3

$183,333

1,890

$291

No

Address

1 2306 Ocean Ave 2 42 Southgate Ct

5

www.propertyshark.com