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SUNNYSIDE. A quarterly analysis of multifamily sales in Sunnyside, Queens. 2nd Quarter 2017. Multifamily Market Report, 2nd Quarter 2017 ...

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SUNNYSIDE A quarterly analysis of multifamily sales in Sunnyside, Queens 2nd Quarter 2017

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

Multifamily Market Report, 2nd Quarter 2017

Multifamily Market Report, 2nd Quarter 2017 Sunnyside, Queens

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$27.1M

5

$211K

$356

752% YoY

67% YoY

-13% YoY

8% YoY

NEIGHBORHOOD BOUNDARIES

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

MULTIFAMILY STATS Sales Volume $120.0M $100.0M $80.0M $60.0M $40.0M $20.0M $

$97M $76M

$8M

$25M

$21M

$8M

$36M $13M

$11M

$2M

$3M

$12M

$27M

$25M $24M

$27M $5M

$3M

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

$244K

300

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2015 12 127 46 115

2016 84 13 241 109

2017 28 128

200

128

100

28

0 Q1

Q2

Q3

2015

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2015 3 7 8 6

2016 5 3 9 7

2017 3 5

10 8 6 4 2 0

2016

2015 3 7 8 6

2016 5 3 9 7

2017 3 5

2017

5

Q1

Number of Transactions

Q4

3

Q2

Q3

2015

Quarter Q1 Q2 Q3 Q4

$211K

10 8 6 4 2 0

2016

Q4

2017

5 3

Q1

Q2 2015

Q3 2016

2017

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Q4

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

365K 251K

41K

97K

95K 31K

103K

70K

43K

9,000

9,058

37K

84K

64K

78K 9,596

19K

76K

Average Sale Price per Square Foot $400 $350 $300 $250 $200 $150 $100 $50 $

$356

$331

MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large

Avg. price/unit $135,458 $240,552 $207,245

Y-o-Y -45% -

Avg. price/sqft $158 $423 $377

Y-o-Y -52% -

Sales volume $2,031,872 $11,546,512 $13,470,930

Sales 3 1 1

Buildings 3 1 1

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

20%

Small Medium 20%

60%

Large

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Units 15 48 65

LIST OF TRANSACTIONS Address 4707 39 St 4141 44 St 4537 43 St 4314 42 St 4314 42 St

Sale date 29-Jun-17 29-Jun-17 28-Jun-17 7-Apr-17 7-Apr-17

Sale price $13,470,930 $11,546,512 $1,458,800 $286,536 $286,536

Property type Large multifamily Medium multifamily Small multifamily Small multifamily Small multifamily

Units 65 48 3 6 6

Sqft 35,700 27,320 2,322 5,280 5,280

Price/sqft $377 $423 $628 $54 $54

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Pkg. deal No No No No No