Weekly New Development Condo summary: $137M in 39 projects
Zipper Building at 5-33 48th Avenue in Long Island City
By Adam Pincus
Buyers recorded $136.9 million in new development condo purchases last week, distributed among 39 separate projects. Only two projects saw more than one sale.
Buyers recorded 15 sales totaling $110.7 million in Manhattan, 17 sales totaling $16.5 million in Brooklyn and 11 sales totaling $9.8 million in Queens. The data is based on closed and recorded sales and does not include in contract sales.
There was just one sale above $10 million, which was a $63.1 million purchase of unit 72 at Vornado Realty Trust’s 220 Central Park South.
Vornado’s project had the highest dollar volume of sales with a total of $66.8 million, reflecting the $63.1 million sale and a smaller sale on the 19th floor. The building is now 76 percent sold out, according to the PincusCo new development condo database.
The project with the most sales was 25 Park Row, with three sales totaling $8.2 million. The building is now 23 percent sold out with 25 recorded sales, according to the PincusCo database.
The most expensive recorded sale in Brooklyn was unit four at 423 3rd Street in Park Slope which sold for for $2.175 million. The building is a four-unit project. It was the first recorded closing there, and StreetEasy shows the other three units in contract.
The most expensive sale in Queens was at the Zipper Building at 5-33 48th Avenue in Long Island City, where unit 4A sold for $1.399 million. The building is now 39 percent sold out, with 16 units out of 41 recorded as sold.