(PRWEB) January 22, 2015
Halstead Property Development Marketing (HPDM), the next biggest residential development promotion company representing property across Brooklyn and Manhattan, today released the industry’s first complete report assessing new development sales marketplace data. For a copy of the entire report, please visit: http://ift.tt/15YFUOh.
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The complete findings from the HPDM New Development Marketplace Report, including the data as well as present amounts from 2014, represent continued robust pricing in the brand new development marketplace, indicating strength moving in Brooklyn and Manhattan into 2015. Based on the report, 52% of active new development listings in Manhattan are priced with typical active PPSF at $ 2,757, reinforced by Billionaire’s Row1 and an entire powerful high-end market over $ 5M. The median PPSF for active listings in Manhattan is 24.4% higher than contracts signed in 2014.
“The new development marketplace is now more powerful than it ever has been, and we’re finding programmers preparing for another record breaking year,” said Stephen G. Kliegerman, president of HPDM. “As a leader in new development promotion and sales, we know the vital requirement for a fresh development-special marketplace report and while our research team has been monitoring this data internally, we’ll now release findings on a quarterly basis.”
With a complete variety of contracts signed and shut units of about 220 in 2014, the Brooklyn new development marketplace is currently about 10.5% as big as the Manhattan marketplace by trade volume. The report suggests that new development price points in Brooklyn are more approachable than Manhattan, with over 60% of active listings priced below $ 2M. Busy new development listings in Brooklyn stay quite powerful, averaging $ 1,326 PPSF heading into 2015.
“Brooklyn is continuing to appear as a leading marketplace for new developments,” said Robin Schneiderman, managing director of business development at HPDM. “We expect to see typical costs rise in Brooklyn with about 40 new development units coming to market this year priced above $ 2M in Dumbo alone.”
The report also shows tendencies among particular areas. Outside of Billionaire’s Row, the area with the greatest quarter-over-quarter typical PPSF increase in Manhattan was Harlem. Harlem had a 17.35% PPSF increase to $ 1,095 PSF in Q4 2014, predominately due to The Adeline at 23 West 116th Street. Also, Downtown Manhattan saw the new development action in 2014, with contract signed or over 1,150 units shut.
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The report finds that component combination tendencies change by borough. In 2014, two bedrooms had the shut and signed contracts of new development listings in Manhattan, representing over 740 development components that are new. In Brooklyn, one bedrooms were the most famous unit size with 90 new development units with shut or signed contracts.!
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Halstead Property Development Marketing has given all data in the report. New development jobs are tracked by the HPDM New Development Market Report simply, now selling patron units and defined as those new to the marketplace. Buildings which have completely sold out of patron units aren’t contained, although they might have been constructed. Resale data isn’t contained in the report.
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About Halstead Property Development Marketing
Halstead Property Development Marketing (HPDM) is a leading sales and marketing company dedicated to the craft of new development. HPDM associates with designers, architects, and famous programmers to produce living encounters of the highest quality and first-class building. Having signified billions of dollars in sales in the last decade, the team brings commitment, insight and significant ability to carving out really exceptional properties that help programmers and residents. HPDM collaborates at each phase of the procedure, from site evaluation to the development procedure, crafting material through the team’s passionate focus to the last close. All properties receive added exposure during the network that is unmatched national and international Halstead Property. http://www.HPDMNY.com
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