East Midtown Report

East Midtown

4TH QUARTER 2015

in East Midtown, Manhattan

4TH QUARTER 2015

East Midtown Report

A quarterly analysis of multifamily sales

in East Midtown, Manhattan

Manhattan Year 2015East

Midtown Quarter 4

18 $485K

$5640B 458$

-53% Y-o-Y

SALES VOLUME AVERAGE PRICE/SQ. FT. NO. OF TRANSACTIONS AVERAGE PRICE/UNIT

3065% Y-o-Y -10% Y-o-Y -28% Y-o-Y

Borough

Neighborhood

Multifamily Market Report, Q4 2015

East Midtown, Manhattan

18 $458 $5640B $485K

SUMMARY

COMMUNITY DISTRICT BOUNDARIES

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Quarter

Q1

Q2

Q3

Q4

Quarter

Q1

Q2

Q3

Q4

Quarter

Q1

Q2

Q3

Q4 14

20

13

2015

8 8

2013

2014

15 21 22

2013 2014

14

2014 2015

4 8

8

8

20

12

18

8

12

2013

23

8 8 17

14 8

154 266 11,622

11,376 335

197 391 437

2015

116 180 801

79

20

13 12

18

0

5

10

15

20

25

Q1 Q2 Q3 Q4

2013 2014 2015

Average Sale Price per Unit

Number of Units Sold

Number of Transactions

Number of Buildings Sold23

1714

22

0

5

10

15

20

25

Q1 Q2 Q3 Q42013 2014 2015

801 335 437

11,622

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Q1 Q2 Q3 Q4

2013 2014 2015

Sales Volume

$295 M $103 M $78 M $190 M $406 M$62 M $93 M $89 M $148 M

$4491 M

$282 M $178 M $498 M $260 M $308 M

$5640 M

$ M

$1000 M

$2000 M

$3000 M

$4000 M

$5000 M

$6000 M

Total Sq. Ft.

1,442K169K 113K 609K 62K 57K 129K 104K 160K

12,116K

367K 182K 615K 262K 285K

12,306K

0

2,000K

4,000K

6,000K

8,000K

10,000K

12,000K

14,000K

$670K $485K

0$500K

$1,000K$1,500K$2,000K$2,500K$3,000K$3,500K$4,000K

MULTIFAMILY STATS

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Price Y-o-Y Price Y-o-Y

Small Small $1,195,000 -11% $1,077 -20% $53,775,000 8 8 45 0.4%

Medium Medium $472,990 7% $678 -11% $129,599,125 8 12 274 2.4%

Large Large $482,757 n/a $452 n/a $5,456,596,786 2 2 11,303 97.3%

Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

49,936

191,271

12,064,341

Multifamily sizeAverage price per unit Average price per sq. ft. No. of

salesSales volume

No. of

buildings

No. of

unitsTotal Sq. Ft.

$977$458

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

Large97.3%

Medium

2.4%

Small

0.4%

Average Price per Square Foot

MULTIFAMILY SIZE

Size of Multifamily Properties Sold

Number of Sold Buildings by Size

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22

1 240 1 Ave 18-Dec-15 $4,111,111,766 Large multifamily 8805 $466,907 8,942,176 $460 No

2 342-392 1 Ave 18-Dec-15 $1,345,485,020 Large multifamily 2498 $538,625 3,122,165 $431 No

3 152-156 E 22 St 02-Oct-15 $33,483,125 Medium multifamily 45 $744,069 24,486 $1,367 No

4 144-146 E 24 St 07-Dec-15 $29,280,000 Medium multifamily 34 $861,176 38,267 $765 No

5 230-232 E 27 St 09-Oct-15 $19,500,000 Medium multifamily 25 $780,000 18,570 $1,050 No

6 351 E 58 St 05-Oct-15 $16,100,000 Medium multifamily 10 $536,667 6,075 $860 Yes

7 347 E 58 St 05-Oct-15 $16,100,000 Medium multifamily 10 $536,667 6,575 $860 Yes

8 349 E 58 St 05-Oct-15 $16,100,000 Medium multifamily 10 $536,667 6,075 $860 Yes

9 238 E 50 St 21-Dec-15 $9,875,000 Medium multifamily 20 $143,116 14,418 $192 Yes

10 234-236 E 50 St 21-Dec-15 $9,875,000 Medium multifamily 24 $143,116 15,972 $192 Yes

11 242-246 E 50 St 21-Dec-15 $9,875,000 Medium multifamily 25 $143,116 21,150 $192 Yes

12 215 E 26 St 23-Nov-15 $9,224,739 Small multifamily 4 $2,306,185 10,095 $914 No

13 947 2 Ave 02-Dec-15 $8,500,000 Small multifamily 4 $2,125,000 4,155 $2,046 No

14 228 E 27 St 02-Nov-15 $8,200,000 Medium multifamily 21 $390,476 9,715 $844 No

15 77 Lexington Ave 01-Dec-15 $7,400,000 Small multifamily 7 $1,057,143 6,124 $1,208 No

16 320-324 E 49 St 18-Dec-15 $7,161,000 Medium multifamily 40 $179,025 23,785 $301 No

17 349 E 52 St 18-Nov-15 $6,525,000 Small multifamily 9 $725,000 6,400 $1,020 No

18 393 2 Ave 30-Oct-15 $6,500,000 Small multifamily 4 $1,625,000 4,810 $1,351 No

19 377 1 Ave 23-Oct-15 $6,000,000 Medium multifamily 10 $600,000 6,183 $970 No

20 217 E 26 St 23-Nov-15 $5,675,261 Small multifamily 4 $1,418,815 8,220 $690 No

21 109 E 35 St 17-Dec-15 $5,250,000 Small multifamily 4 $1,312,500 4,320 $1,215 No

22 352 E 51 St 24-Nov-15 $4,700,000 Small multifamily 9 $522,222 5,812 $809 No

Address Sale date Sale price Property type Units Price per unit Sq. Ft. Price per Sq. Ft.Package

deal

LIST OF TRANSACTIONS

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