Tribeca and Yorkville top the list for new development condo sales in 2018

Posted On Wed, July 25, 2018 By

Posted On Wed, July 25, 2018 By In condos, New Developments, real estate trends, Tribeca, yorkville

Photo via Chris Goldberg/Flickr

For followers of Manhattan real estate it would be hard to miss the bumper crop of innovative, eye-catching and pricey new developments rising what seems like daily in Tribeca; but big numbers for new towers may come as a surprise when they’re attached to old-school Yorkville on the Upper East Side. In the city that never fails to surprise, recent research from CityRealty shows that Tribeca and Yorkville are the top neighborhoods for new development condo sales so far this year. There are, of course reasons for the unlikely pairing at the top.



Tribeca top sellers: (l) 56 Leonard Street; (r) 30 Park Place; photo via CityRealty

Tribeca took the number one spot with $288.7 million in new development sales recorded this year. In #2 Yorkville, $260.1 million in sales during the same time period is an impressive showing.

Though there were only 24 new development closings contributing to the big number, Tribeca led the pack in overall sales figures–over a quarter of a billion dollars–due to the fact that condos in the neighborhood skew toward the sky-high when it comes to sale price.


56 Leonard Street in Tribeca: photo via CityRealty

Buildings with closings that added to that hefty total this year include The Four Seasons Private Residences at 30 Park Place, 443 Greenwich Street, and 56 Leonard Street. The average price/ft2 in the neighborhood was $3,297, while the average unit price was $12 million.


Yorkville moves units. (l) The Kent, 200 East 95th Street; (r) Citizen 360; images via CityRealty


389 East 89th Street in Yorkville; photo via CityRealty

Yorkville, on the other hand, has the advantage of sheer quantity. The traditionally residential neighborhood had more unit closings—64 in total—in several large buildings than its downtown cousin. Keep in mind that these bump comes a year after the opening of the Second Avenue Subway.

Top buildings with 2018 closings in the newly-subway-blessed neighborhood include Citizen360 at 360 East 89th Street, 389 East 89th Street, and The Kent at 200 East 95th Street. The average Yorkville unit price was $4.1 million; the average price/ft2 was $1,999.

Check out the full list of new development sales totals in 2018 so far, below.

Neighborhood Aggregate Sales, $ Number of Sales Average PPSF Average Sales Price
Tribeca $288,743,809 24 $3,297 $12,030,992
Yorkville $260,115,239 64 $1,999 $4,064,301
Lincoln Center $206,598,722 57 $2,064 $3,624,539
West Village $206,535,496 38 $2,824 $5,435,145
East Village $164,679,627 68 $2,048 $2,421,759
Lower East Side $142,139,283 46 $2,130 $3,089,984
Chelsea $139,276,493 44 $2,129 $3,165,375
Broadway Corridor $111,480,580 15 $2,576 $7,432,039
Flatiron/Union Square $110,314,423 12 $3,372 $9,192,869
Midtown East $98,691,879 18 $2,402 $5,482,882
Midtown West $80,391,092 35 $2,050 $2,296,888
Central Park West $71,097,553 21 $1,992 $3,385,598
Murray Hill $56,760,747 43 $1,431 $1,320,017
SoHo $47,141,780 9 $2,230 $5,237,976
Lenox Hill $43,992,816 14 $1,778 $3,142,344
NoHo $42,431,706 7 $2,716 $6,061,672
Carnegie Hill $41,033,360 6 $2,888 $6,838,893
Financial District $39,932,682 12 $2,025 $3,327,724
Gramercy Park $34,616,105 20 $1,651 $1,730,805
Turtle Bay/United Nations $33,743,690 18 $1,818 $1,874,649
Riverside Dr./West End Ave. $18,416,559 5 $1,830 $3,683,312
NoLiTa/Little Italy $5,925,000 3 $1,328 $1,975,000

[Via CityRealty]

Images courtesy of CityRealty.

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Neighborhoods : Tribeca,Upper East Side,Yorkville

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