/Resi scorecard: Brooklyn and Queens condo inventory through March 2019

Resi scorecard: Brooklyn and Queens condo inventory through March 2019

A roundup of news and data on the residential market

NEW DEVELOPMENT CONDO REPORT

BROOKLYN

• Inventory contracted as developers filed fewer units than were purchased
• Developers filed 12 plans with 71 units
• The state approved 16 plans with 123 units valued at $131 million
• Buyers purchased 111 units valued at $105 million

SUPPLY

BROOKLYN NEW DEVELOPMENT CONDO SUPPLY

DEVELOPER ADDRESS TOTAL SELLOUT UNITS
Sterling Town Equities 194 21st Street $27,960,000 26
Oleg Krasnitsky 631 East 18th Street $19,073,800 26
Sterling Town Equities 653 Bergen Street $16,400,000 7
Leonid Bogomolniy & Tigran Sahakyan 362 Van Brunt Street $15,100,000 10

Source: TRData analysis of plans approved to sell by the NYS Attorney General in March

LARGEST PROJECTS FILED IN BROOKLYN

DEVELOPER ADDRESS UNITS TOTAL SELLOUT
Eran Nornberg & Jeffrey Siegel 738 Grand Street 10 N/A
Milton Sum et al. 838 41st Street 8 $8,423,100
Michael Kandinov et al. 684 Madison Street 8 $7,425,000
East Coast Real Estate 803 Quincy Street 8 $6,244,000

Source: TRData analysis of plans submitted to the NYS Attorney General in March

QUEENS NEW DEVELOPMENT CONDO SUPPLY

MOST EXPENSIVE CONDO PROJECTS APPROVED IN QUEENS

DEVELOPER ADDRESS TOTAL SELLOUT UNITS
Pinnacle Group 41-60 Bowne Street (conversion) $29,817,832 64
Danny Chiang et al. 22-30 College Point Boulevard $14,800,800 14
Tamal Monsur 172-18 Jamaica Avenue $12,100,000 20
Kingston Property 89-14 150th Street $8,650,000 22

Source: TRData analysis of plans approved to sell by the NYS Attorney General in March

LARGEST PROJECTS FILED IN QUEENS

DEVELOPER ADDRESS UNITS TOTAL SELLOUT
Z&W of New York 139-20 34th Street 30 $18,000,500
Wen Jin Wang et al. 109-14 72nd Road 23 $26,091,621
MetroDev Group 27-21 27th Street 8 $7,661,250
George Damiris et al. 27-34 27th Street 7 $6,188,300

Source: TRData analysis of plans submitted to the NYS Attorney General in March

DEMAND

BROOKLYN NEW DEVELOPMENT CONDO SALES DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSOR SALE PRICE ADDRESS UNIT
David Duke Dweck,
Steven Ancona & Michael Marino
$2,550,000 66 North 3rd Street 4
Shiraz Sanjana $2,393,670 84 Oak Street 3A
Hopestreet $2,350,000 509 Pacific Street PH2A
Hopestreet $2,202,170 509 Pacific Street 3B

Source: TRData analysis of NYC Dept. of Finance sales in new development projects in March

QUEENS NEW DEVELOPMENT CONDO SALES
DOLLAR VOLUME AND UNIT VOLUME

MOST EXPENSIVE CONDO UNIT SALES RECORDED

SPONSOR SALE PRICE ADDRESS UNIT
Ekstein Development Group $1,087,186 25-19 43rd Avenue 811
Onex Real Estate Partners $959,943 131-01 40th Road 11S
Ampiera Group $875,695 42-50 27th Street 4A
Kenny Liu $806,454 97-45 63rd Drive 5E

Source: TRData analysis of NYC Dept. of Finance sales in new development projects in March