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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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