Contracts Signed Report #longislandcity week of December 4 through December 10

Two contracts were signed last week for condominium units while no contracts were signed at City Lights for the sixth consecutive week. Please see report highlights, below.

The 2 contracts signed in the condominium market were last priced at an average of $1,389 per square foot and both signed contracts were for new development units. 

One of the two signed contracts was for a 2 bedroom unit and its last list price was $1,658,000, $1,397 per square foot.

The price per square foot of signed contracts for new development units this week as compared to last week increased by 5.3% rising from $1,319 per square foot to $1,389 per square foot. 

Have a great week. 

Patrick, 212.380.8184

Photo Credit: DONYC.COM

Explanation of Charts

Figure 1 reflects the total number of signed contracts with breakouts for signed contracts priced at or above $1 million and signed contracts priced at or above $2 million that occurred during the previous week, in the LIC condominium market. Figure 2 reflects the same metrics, for City Lights at Queens Landing, Long Island City's only cooperative building. 

About the Author

Patrick is a leading New York City real estate broker and new development specialist. He combines more than 15 years’ experience in real estate brokerage, marketing, research and new development sales and leasing with exceptional creativity and unparalleled service to help clients maximize value on their real estate investments while minimizing risk.