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WASHINGTON HEIGHTS A quarterly analysis of multifamily sales in Washington Heights, Manhattan 1st Quarter 2018
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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
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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
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Pkg. deal No No Yes Yes Yes No Yes Yes No No