15 Broad St. - 2021 Report

15
BROAD
STREET
ANNUAL REPORT
January 1st / December 31st 2021
JAIME AGUILERA
at Douglas Elliman Real Estate

MANHATTAN SALES
Q4-2021
“Sales rose to their highest total for a fourth-quarter in
thirty-two years. Listing inventory fell by its most
significant annual rate in seven years.”
The Manhattan housing market closed out the year on full throttle with heavy sales
volume, rising prices, and sharply falling listing inventory. While the number of
sales nearly doubled year over year to 3,559 for the highest fourth-quarter since
total tracking began in 1989, it was 48% higher than the same period two years
ago before the pandemic. Over the past decade, fourth-quarter sales averaged
2,727, 23.4% below the current quarter total. Listing inventory fell 25% year over
year to 6,207 and was 6.6% below the same period two years ago. The
intersection of sharply rising sales and falling listing inventory from the year-ago
quarter resulted in a blistering market pace. The months of supply, the number of
months to sell all listing inventory at the current sales rate, plunged 62.8% to the
fastest moving market in six years and 36.3% faster than the same period two
years ago. While the market was dominated by high-end sales in 2020, growth
has been spreading across all price tranches. The most significant annual sales
growth rates were seen in the $2 million to $5 million markets during this quarter.
The year-over-year increase in sales above and below the $4 million threshold was
nearly the same at 86.5% and 85.7%, respectively.

MANHATTAN SALES
Q4-2021

15 BROAD STREET
2021 Sold Inventory
Avg. Days
Type Sales Volume Ft2 Units
on Market
Unit
STUDIO
Type
$4,455,000
Inventory Volume
4,328 Ft2
Active Units
5
Ft2
130
STUDIO 2 H.O $8,480,000 $2,995,0009,391 Ft2 3 7 2,580 104
21 H.O BR $1,630,000 $3,842,9991,809 Ft2 3 1 4,306 89
1
BR
BR + 1
H.O
H.O $4,535,000
$9,089,999
4,492 Ft2
5
3
8,224
59
1 BR + 2 H.O $4,200,000 2 3,791
2 BR $9,070,000 8,626 Ft2 5 112
2 BR $3,499,000 2 3,322
3 BR $9,365,000 8,575 Ft2 4 168
3 BR $7,645,000 2 5,330
OVERALL $37,535,000 37,221 Ft2 25 115
15 BROAD STREET
New York NY 10005

15 BROAD STREET
Year-Over-Year Sales 2020-2021
Type
Sales Volume
$ (YR)
Sold Ft2
(YR)
Sold Units
% (YR)
STUDIO $2,855,000 2,708 Ft2 150%
1 H.O - - -
2 H.O $5,943,000 7,146 Ft2 250%
1 BR - - -
1 BR + 1 H.O $3,260,000 3,377 Ft2 200%
1 BR + 2 H.O - - -
2 BR $2,280,000 715 Ft2 -
3 BR - - -
OVERALL $17,922,500 19,683 Ft2 91%
• Overall sales volume in the building increased by 91%
year-over-year.
• Studios and home office units moved above the prior
year level.
• The Financial District housing market closed out the
year on full throttle with heavy sales volume, rising
prices, and sharply falling listing inventory.
15 BROAD STREET
New York NY 10005

Residence 2000 | 3BR | 2BA | $2,650,000

Residence 1900 | 3BR | 2BA | $2,475,000 | IN CONTRACT
Residence 1912 | 1BR | 2 H.O | 2BA | $2,200,000

Residence 1102 | Alcove Loft | 1BA | $985,000 | SOLD

Residence 1506 | 2 H.O | 1BA | $1,160,000 | SOLD

Residence 2520 | 3BR | 2BA | $1,975,000 | SOLD
Residence 3700 | 2BR | 2BA | $1,965,000 | SOLD

Residence 922 | Alcove Loft | 1BA | $775,000 | SOLD

MANHATTAN RENTALS
Q4-2021
“Net effective median rent surged by a
record annual rate for the second straight month,”
Rental prices continued to surge overall but remained polarized by price. The net
effective median rent of an apartment in a doorman building, the face rent less
landlord concessions, accounting for 50.9% of rentals in November and skewed
to the higher end, was $4,108, up a record 27.2% year over year and 2.3% above
the same period in 2019. In contrast, the net effective median rent for the nondoorman
market, accounting for 49.1% of rental activity, rose 10.9% annually but
remained 11.6% below the same period two years ago. In the overall rental market
context, net effective median rent surged annually by a record 22.8% to $3,369
from year-ago levels. Still, it remained 3.8% below the same period two years ago
before the pandemic. The market share of two-year leases was 53.7%, sharply
above the 16.7% record low in January as tenants continued to lock in longer
leases in anticipation of more rent growth in the future.

MANHATTAN RENTALS
Q4-2021

15 BROAD STREET
2021 Lease Activity
Studio 1 Home Office 2 Home Office 1 BED 1 BED +1 H.O 1 BED + 2 Home Office
3 BED
11,502Ft2
Studio
8,195Ft2
1 Home Office
5,161Ft2
2 BED
14,839Ft2
2021
2 Home Office
14,798Ft2
1 BED + 2 Home Office
1,597Ft2
1 BED +1 H.O
9,397Ft2
1 BED
1,734Ft2
Unit Type Leased Ft2 Leased Units
Studio 8195
Avg./Days
on Market
STUDIO 8,195 Ft2 10 83
1 Home Office 5161
2 Home Office 14798
1 H.O 5,161 Ft2 5 34
1 BED 1734
1 BED +1 H.O 9397
1 BED + 2 Home
Office
Table 1
2 H.O 14,798 Ft2 12 47
1597
1 BR 1,734 Ft2 1 175
2 BED 14839
3 BED 11502
1 BR + 1 H.O 9,397 Ft2 6 28
1 BR + 2 H.O 1,597 Ft2 1 16
2 BR 14,839 Ft2 8 59
3 BR 11,502 Ft2 5 38
OVERALL 67,205 Ft2 48 54
15 BROAD STREET
New York NY 10005

15 BROAD STREET
Year-Over-Year Leases 2020-2021
Type
Leased Units
% (YR)
Leased Ft2
(YR)
Price per Ft2
% (YR)
STUDIO 233% 6,080 Ft2 14%
1 H.O 67% 1,837 Ft2 15%
2 H.O 9% 14 Ft2 17%
1 BR 100% 1,734 Ft2 14%
1 BR + 1 H.O 14% 1,259 Ft2 19%
1 BR + 2 H.O 100% 1,579 Ft2 20%
2 BR 800% 14,839 Ft2 12%
3 BR 400% 9,302 Ft2 8%
OVERALL 92% 34,126 Ft2 14%
• The market share of landlord concessions, listing
inventory, and vacancy fell annually at record rates.
• Net effective median rent surged by a record annual
rate.
• Listing discount from the original asking price fell to
its second tightest level on record.
15 BROAD STREET
New York NY 10005

Residence 1700 | 2BR | 2BA | $6,700 | RENTED

Residence 1704 | 2 H.O | 1BA | $5,150 | RENTED
Residence 2620 | 3BR | 3BA | $7,500 | RENTED

Residence 1201 | Alcove Loft | 1BA | $3,595 | RENTED

PERFECTION
in every detail, every step of the way
15 BROAD STREET
New York NY 10005

Jaime Aguilera
Licensed Associate Real Estate Broker
212 470 8774
575 Madison Ave
New York NY
10022