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WASHINGTON HEIGHTS A quarterly analysis of multifamily sales in Washington Heights, Manhattan 1st Quarter 2018

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

Multifamily Market Report, 1st Quarter 2018

Multifamily Market Report, 1st Quarter 2018 Washington Heights, Manhattan

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$81.7M

7

$228K

$250

52% YoY

17% YoY

-21% YoY

-21% YoY

NEIGHBORHOOD BOUNDARIES

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

MULTIFAMILY STATS Sales Volume $350.0M $300.0M $250.0M $200.0M $150.0M $100.0M $50.0M $

$309M $194M $211M $194M

$270M

$213M $144M

$81M

$121M

$203M

$112M

$119M

$115M

$96M

$104M

$54M

$82M

Average Sale Price per Unit $400K $350K $300K $250K $200K $150K $100K $50K $

$288K

$228K

1500

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2016 372 990 461 910

2017 186 343 577 393

2018 359

1000 359

500 0

Q1

Q2 2016

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2016 12 23 17 25

2017 7 13 15 12

2018 10

2017 6 11 13 10

2018

20

10

10

0 Q1

Number of Transactions 2016 9 22 15 22

2017

Q4

30

Q2 2016

Quarter Q1 Q2 Q3 Q4

Q3

2018 7

25 20 15 10 5 0

Q3 2017

Q4

2018

7

Q1

Q2 2016

Q3 2017

2018

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Q4

Total Sq. Ft. 1.0M

889K

920K

841K

600K

517K

436K

930K

786K

800K

911K 573K

485K

369K

400K

383K

321K

169K

200K

326K

282K

327K

Average Sale Price per Square Foot $500 $400

$317

$300

$250

$200 $100

$

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

Avg. price/unit $143,750 $234,615 $227,030

Y-o-Y -72% -16% -

Avg. price/sqft $418 $275 $237

Y-o-Y -32% -10% -

Sales volume $1,150,000 $27,450,000 $53,125,000

Sales 1 4 2

Buildings 1 7 2

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

14% 29% Small Medium Large

57%

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Units 8 117 234

LIST OF TRANSACTIONS Address 1930-1934 Amsterdam Ave 28-30 Ellwood St 524 W 173 St 506 W 173 St 526 W 173 St 650 W 173 St 2106 Amsterdam Ave 2104 Amsterdam Ave 514 W 169 St 527 W 162 St

Sale date 22-Jan-18 6-Feb-18 28-Feb-18 28-Feb-18 28-Feb-18 1-Feb-18 27-Feb-18 27-Feb-18 18-Jan-18 22-Mar-18

Sale price $43,000,000 $10,125,000 $9,250,000 $9,250,000 $9,250,000 $8,400,000 $7,300,000 $7,300,000 $2,500,000 $1,150,000

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

Units 182 52 15 20 15 30 13 14 10 8

Sqft 181,111 43,248 12,780 18,030 12,780 25,400 11,355 11,355 8,215 2,754

Price/sqft $237 $234 $212 $212 $212 $331 $321 $321 $304 $418

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

Pkg. deal No No Yes Yes Yes No Yes Yes No No