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A blog from CityRealty (Links below will take you to the 6sqft site)

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Between the coronavirus pandemic, the economic fallout of the efforts to contain it, and the fact that New York City is still not all the way open, Manhattan's new development market has taken quite a beating with nearly half the number of sales recorded in the first two quarters of 2020 as there were in 2019. CityRealty data shows 419 new development sponsor sales were recorded in Manhattan for the first six months of 2020. This is down from 819 sales recorded during the same period last year. Closing prices have also dipped. The average sale price of sponsor condo fell from $4.51M in 2019 to $3.93M this year. The average price per square foot paid fell from $2,450 to $2,349.

While this may be a trying market to launch sales for a new building, development teams have resisted dramatically reducing prices and have warehoused unsold units for sunnier times. For now-selling apartments, marketing teams have adapted to a new normal incorporating virtual tours and tacking on creative incentives.

Since the start of 'Phase 3' and in-person showings, the overall number sales and contract-signings have steadily grown, albeit well down from prior years. It is also worth noting that if developers and builders waited for ideal circumstances to get a project off the ground, New York would look quite a bit sparser. The city has experienced struggles before, but bounced back spectacularly in the wake of terrorist attacks, natural disasters, and the Great Recession. It is far too soon to know how the latest crop of new construction condos will perform, but it is often touted that Manhattan real estate is one the safest investments.

On that note, we took a look at several new sponsor units that have come online and resale listing within some of the hot new buildings of yesteryear.

New Development Sponsor Sales

21-21 31st Street, Astoria
42 units | Occupancy 2020
After 5 months of sales, Rowan is 35% sold
8 studio through 3-beds from $555K - $1.85M

21-21-31st-Street-01 All renderings of The Rowan via Redundant Pixel
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Serene apartment in a new luxury condominium features European-style oversized windows, hand-selected details, and custom white oak flooring. The kitchen is outfitted with Ceppo Di Gre marble and Raw Concrete Caesarstone countertops, light walnut and grey lacquered cabinetry, a custom full-height pantry, pendant light fixtures, and Miele appliances. The luxurious master bath features Pelle Grigio marble wall tile, Basalt grey stone flooring, and a spa-like, glass-enclosed shower. A virtual tour is available for this unit. See floor plan and full details here.

252 South Street, Lower East Side
811 units | Occupancy 2020
26 1- through 3-beds from $1.2M - $7.9M

252-South-Street-01 All images of One Manhattan Square via Extell
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Spacious corner condo on a high floor looks out on spectacular views of New York Harbor, the Manhattan and Brooklyn Bridges, and the Lower Manhattan skyline. Interiors by Meyer Davis Studio feature 5" wide stained oak flooring, generous closet space, spa-like baths, and in-unit washer/dryer. The kitchen is outfitted with a premium Miele appliance package and imported stone and custom finishes. A virtual tour is available for this unit. See floor plan and full details here.

24-16 Queens Plaza South, Long Island City
109 units | Occupancy 2020
At first 5 July closings, sponsor to donate to local charity
9 studio through 2-beds from $600K - $1.3M

24-16-Queens-Plaza-South-01 All images of Hero LIC via Nest Seekers
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Tastefully designed apartment boasts open layout, oversized, south-facing windows, white oak flooring, and generous storage space. The open kitchen is equipped with custom cabinetry, Caesarstone countertops, and fully integrated appliances. A 15-year tax abatement is in effect, and virtual tours are available upon request. Moreover, for the first five sales contracts signed in July 2020, the sponsor will make a $5,000 donation to the buyer's choice of BRC or LearningSpring School at closing. See floor plan and full details here.

537 Court Street, Carroll Gardens
4 units | Occupancy 2020
6 studio through 3-beds from $649K - $1.5M

537-Court-Street-01 All images of Garnet Court Condos via Nest Seekers
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Pristine duplex studio features high ceilings, wide plank red oak floors, recessed lighting, classic sash windows, central heat and air conditioning, and in-unit washer/dryer. The upper level opens to a living/dining area, a kitchen with high-end stainless steel appliances, and porcelain-tiled bath with glass-enclosed walk-in rain shower. A chic floating staircase leads to an open multi-purpose room and powder room on the lower level. See floor plan and full details here.

New Development Resales

10 Sullivan Street, Soho
19 units |Occupancy 2015
2 1- through 3-beds from $2.7M - $10.25M

10-Sullivan-Street-01 All images of 10 Sullivan Street via Compass
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Exquisitely designed home overlooking Soho Square boasts oversized windows, modern finishes, radiant heat flooring, motorized window treatments, and Savant home automation system. The open Poliform chef's kitchen is outfitted with top-of-the-line appliances, custom walnut cabinetry, and Lagano marble countertops. The master suite features custom storage, generous closet space, and windowed marble bath. A virtual tour is available for this unit. See floor plan and full details here.

388 Bridge Street, Downtown Brooklyn
378 units | Occupancy 2014
7 1- through 4-beds from $1.1M - $2.6M

388-Bridge-Street-01 Images of 388 Bridge Street via Douglas Elliman
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Penthouse perched hundreds of feet over Brooklyn looks out on unobstructed views of the Manhattan skyline, the Statue of Liberty, and Coney Island through floor-to-ceiling windows. Off the living room, the kitchen is outfitted with state-of-the-art quartz countertops and backsplash and high-end appliances. Both beds are outfitted with white quartz sinks and limestone floors and showers. A virtual tour is available for this unit. See floor plan and full details here.

157 West 57th Street, Midtown West
92 units | Occupancy 2014
6 1- through 4-beds from $3.6M - $58.5M

157-West-57th-Street-01 One57 via Extell
157-West-57th-Street-01 Interiors via Sotheby's
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Graciously proportioned apartment boasts 11' ceilings, rift-sawn oak floors, floor-to-ceiling windows, and smart home technology. Smallbone of Devizes kitchen in Madagascar ebony is outfitted with Miele appliances, a Sub-Zero wine fridge, and Dornbacht detailing. The east-facing master suite features a custom walk-in closet and windowed bath with Zuma Jacuzzi tub. A virtual tour is available for this unit. See floor plan and full details here.

432 Park Avenue, Midtown East
104 units | Occupancy 2016
9 2- through 5-beds from $8.8M - $32.5M

432-Park-Avenue-01 All images of 432 Park Avenue via Compass
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Flexible use apartment boasts soaring ceilings, oversized windows, gallery walls, and spectacular views of Central Park, the Manhattan skyline, and the East River. Just off the elegant dining room, the kitchen is outfitted with high-end appliances and finishes. All bedrooms have luxurious en suite baths. A virtual tour is available for this unit. See floor plan and full details here.

221 West 77th Street, Upper West Side
26 units | Occupancy 2017
2 2- through 4-beds from $3.9M - $8.8M

221-West-77th-Street-01 All images of 221 West 77th Street via Hauseit LLC
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Full-floor condo enjoys incredible natural light through south- and east-facing windows. Just off the living/dining area, the Smallbone of Devizes kitchen is outfitted with high-end appliances and looks out on northern views of the city. A private terrace boasts river views, gas-burning fireplace, outdoor grill, water, and electricity. Video and virtual tours are available for this unit. See floor plan and full details here.

15 Union Square West
36 units | Occupancy 2009
5 1- through 5-beds from $1.4M - $14.5M

15-Union-Square-West-01 Images of 15 Union Square West via The Corcoran Group
15-Union-Square-West-01 All images of 15 Union Square West via The Corcoran Group
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Penthouse apartment in the onetime headquarters of Tiffany & Company is crowned with a massive private terrace overlooking Union Square Park. Interiors have been beautifully upgraded with high-end finishes, state-of-the-art appliances, and superior technology. The sleek open kitchen is connected to the dining area via a large marble-topped island, and comes outfitted with rift-cut cabinetry and top-of-the-line appliances. See floor plan and full details here.

655 Sixth Avenue, Chelsea
49 units | Occupancy 2006
1 4-bed for $11M

655-Sixth-Avenue-01
655-Sixth-Avenue-01 All images of The O'Neill Building via Christie's
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Grand duplex penthouse in a revered Chelsea building has vast private terraces and a private neo-Grec cupola among its features. Southeastern exposures and over 220 feet of windows fill the home with abundant natural light. The south-facing master suite is on the upper floor and has access to another private terrace. A video tour is available for this unit. See floor plan and full details here.

350 West 42nd Street, Midtown West
550 units | Occupancy 2008
17 studio through 2-beds from $758K - $2.5M

350-West-42nd-Street-01
350-West-42nd-Street-02 Interiors via Elegran
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Corner unit in a centrally located, full-service condominium looks out on open south- and east-facing views through floor-to-ceiling windows. The open chef's kitchen is outfitted with granite countertops and stainless steel appliances. The bath features Waterworks fixtures and a Kohler soaking tub. A video tour is available for this unit. See floor plan and full details here.

15 West 20th Street, Flatiron District
19 units | Occupancy 2006
2 3-beds from $3M - $3.1M

15-West-20th-Street-01 Altair 20 via CityRealty
15-West-20th-Street-02 Interiors via Sotheby's
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Oversized apartment in a Flatiron condo conversion is reached via private keyed elevator and boasts high ceilings, expansive gallery, and a wall of south-facing windows looking out on landmarked architecture. The top-of-the-line kitchen is outfitted with elegantly hidden storage space and state-of-the-art appliance package. The master suite features a walk-in closet and spa-like bath with separate water closet, double vanity, radiant heated floors, and soaking tub with built-in flatscreen TV. A video tour is available for this unit. See floor plan and full details here.

34 North 7th Street, Williamsburg
205 units | Occupancy 2009
9 1- through 3-beds from $875K - $2.7M

34-North-7th-Street-01 All images of The Edge North Tower via Compass
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With its expansive layout, soaring ceilings, floor-to-ceiling windows, and private terrace, it's little wonder this duplex townhouse unit in a full-service condominium was featured on PIX11's Design Recipes. The main level boasts a large living/dining area, terrace access, and open chef's kitchen. The lofted upper level includes a king-sized master suite with walk-in closet and bath with double sink, shower, and separate soaking tub. A virtual tour is available for this unit. See floor plan and full details here.

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Additional Info About the Building

 
Spacious 1 Bedrooms with outdoor space and in-residence w/d View Property
Luxury Homes in Midtown | Newly Renovated Studio-2BR Homes View Property
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