Predicting the future is a low-probability but fun game. Nonetheless, we have five predictions for the NYC new development market for 2023 and beyond. Before we get into it, let’s take a quick look back at 2021 and 2022...
Tag - condos
Find hidden, unpriced new development condos
The $250M penthouse at Central Park Tower was unpriced for six years before Extell unveiled it in September 2022. And there’s more where that came from. Did you know there’s another mega condo just one floor...
Brooklyn’s Condo Market Levels Up
The average price for a two-bedroom condo in Brooklyn has effectively doubled over the past decade – rising from $722K ($648 PSF) in 2012 to $1.25M ($1,141 PSF) in Q3 this year. And it’s not only prices that are rising...
Report: Manhattan Luxe New Dev Market Still Hot in September
The weather is cooling off, but Manhattan’s luxury new development market didn’t get the memo. Though new dev condo sales dipped slightly citywide in September, those for $4 million and up spiked 30% in Manhattan...
15 NYC condos and rentals new to the market
Coming out of the pandemic, the New York City real estate market is definitely in uncharted waters. Condo contract activity is finally slowing down, although still elevated above 2019 levels, while rents are...
April 2022 Report: Sponsor Contracts Dip, But The Market Is Still Elevated
New York City’s new development market reported 397 sponsor contracts in April 2022, showing a 14% drop in overall volume from March that was more pronounced in the outer boroughs. Manhattan had a slight 3% dip while...
March + Q1 2022 Report: Contracts Spike 15%, Ending Strongest 1st Quarter on Record
New York City’s new development market just completed its strongest first quarter and third most active quarter to date since Marketproof began tracking sponsor contracts in 2015. Condominium projects across Manhattan...
February Report: NYC New Developments Report 26% More Sponsor Contracts; Queens is Gaining an Edge
February was another strong month for new development sales across New York City. Developers reported 402 new sponsor contracts, a 26% increase from the month prior and a 35% increase over the same period last year...
One Manhattan Square leads NYC new development sales
Projects in Brooklyn and Queens tie for the second spot One Manhattan Square, Extell Development’s 814-unit condominium in Manhattan’s Two Bridges neighborhood, is selling faster than any other new development in New...
January Report: New Development Market Activity Normalizing as Prices Rise
Condo contract activity matches pre-pandemic levels, but prices are increasing. New York City’s new developments reported 313 sponsor contracts in January 2022, representing a 13% decrease from the month prior yet...
