to get insights and game coverage for your favorite teams, New York City new development condos started September with a decline in contract volume – but this 17% dip doesn’t mean the real estate market is underperforming. Condo developers reported 39 sales last week, right on par with pre-pandemic levels . The market continues to normalize.
Queens was the only boro to see sales increase last week with five deals . Manhattan had 19 and Brooklyn at 15 ., a mega-condo in Long Island City, reported four sales, more than any other project in the city. Asking prices for those units range from $701,280 for a studio to $1,882,558 for a two-bedroom. These prices are on the higher-end for Queens, where $2,000,000., located at 41–05 29th Street, also stood out with a one-bedroom sale, asking $1,003,275.
“Despite the slowing down market, this 86 unit, white terracotta Flatiron inspired Nova LIC has been selling steadily. Pre-sale achieved 50% year to date,” said Eric Benaim, CEO of Modern Spaces.