Blocks & Lots

News: There’s still plenty of new development condo units left to sell, Marketproof co-founder says (NY Biz Journal)

You’re not completely out of luck if you’re still in the market for a condominium unit in New York City, says Marketproof co-founder Kael Goodman

“There’s still plenty of inventory to sell,” Goodman told the New York Business Journal. “The only question that remains is what’s going to happen with prices. They are rising, but we don’t know if they’re going to continue or level off over the next few months.” 

Marketproof, a real estate data company, tracks real estate transactions, including new developments, across New York City by compiling data from permits, records, and customized research software. 

New developments are classified as buildings where the sponsor remains the owner on the Marketproof platform. 

Its January report shows that the city’s new developments reported 313 sponsor contracts over the past month, a 13% decrease from the prior month. That is close to the 320 contracts recorded in January 2020, prior to the start of the pandemic.

Photo of One Manhattan Square gardens by Evan Joseph