The Upper West Side investment sales market of the first half of 2016 saw 20 transactions involving 30 buildings sell for an aggregate dollar volume of $366,543,506. The buildings, which traded so far this year, contain total of 522 Units and total approximately 411,273 gross square feet.
In comparison, in the first half of 2015 there were 23 transactions involving 29 buildings which sold for an aggregate dollar volume of $572,186,500. The buildings, which traded last year, contained total of 330 Units and totaled approximately 413,890 gross square feet.
2H16 in detail:
Five to Ten Unit Walk up Townhouses sold at an average of $1,118.08 per square foot and $972,355.95 per unit. Eleven Unit plus, Walk up residential apartment buildings sold at an average of $914.57 per square foot and $556,046.12 per unit. Mixed use walk up buildings sold at an average of $1,501.71 per square foot and $956,521.74 per unit. Elevator buildings sold at an average of $472.27 per square foot and $562,068.97 per unit. Church buildings sold at an average of $1,038.57 per square foot.
The Upper West Side is on track to close 2016 with a 2.2 percent turnover rate compared to 2015’s 1.8 percent turnover rate.
*Please note that the second quarter of 2016 has three more weeks to go as of this writing. I will update the 2H16 sales in this report in the next few coming months. Stay tuned..