Blocks & Lots

News: NYC new development sales stay hot, but prices show signs of stabilizing (The Real Deal)

Sales of new development condos in the city just posted their strongest first quarter — and third-most-active quarter overall — since at least 2015, according to a new report from Marketproof. Developers in Manhattan, Brooklyn and Queens reported 1,178 contracts signed for sponsor units in the year’s opening months, asking a combined $2.9 billion.

Despite slowing price growth and thinning inventory, challenging macroeconomic conditions might not be strong enough to stop the engine, according to Goodman.

“These external factors like interest rates and wars,” he said, ”they’re not touching us yet.”

Rendering courtesy of 200 East 83rd Street