Harrison Street Hires Dan Fanelli as Co-Head of U.S. Investment Solutions in NYC<\/a><\/p>\n\u201cIn the market there has been a supply constraint for several years as it relates to new inventory of units,\u201d Robin Schneiderman, a managing director at BHSDM, told CO. \u201cOver the last couple years, there\u2019s been some pent-up demand as it relates to the sale of developed sites throughout Manhattan.\u00a0<\/p>\n
\u201cTraditionally, it could take anywhere from a year to two years for a developer to acquire land, plan the building, start construction, and then eventually get to the market,\u201d Schneiderman added. \u201cWhat we\u2019re seeing finally is some of those plans that have been in the works are starting to come to the market to alleviate, in my view, some of the supply challenges.\u201d<\/p>\n
\t\t\t![\"A](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/09\/Q4-Release-of-new-sponsor-residences-2022-2026.png\" "\\"Manhattan\u2019s")
\n\t\t\tDATA: Brown Harris Stevens Development Marketing\t\t<\/p>\n
BHSDM\u2019s data analysis relates to the number of new units that were introduced to the Manhattan condo market over the last five years, Schneiderman noted. The total number of units projected to be delivered in Manhattan in 2026 is about 1,100. Some 3,123 units exist in Manhattan today.\u00a0<\/p>\n
\u201cWhat\u2019s interesting is that 768 of those are going to hit the market in the fall,\u201d he said. \u201cNow, that\u2019s the total number of units. It doesn\u2019t mean that all of a sudden you\u2019re going to have 768 apartments come on the market, because each project will release units to the market as part of their sales and marketing process.\u00a0<\/p>\n
\u201cBut, the bigger story is that in our current pipeline we have approximately 20 new buildings that will start sales. Twenty buildings with 768 new units is significantly higher than any other fourth quarter \u2014 fall market \u2014 that we\u2019ve seen in a long time,\u201d Schneiderman said.<\/p>\n
In 2023, only 41 sponsor units were delivered in the fourth quarter, and in 2024, there were only 90 new units. In 2025, 264 units were delivered, according to BHSDM data, with the five-year average hitting approximately 263 units.<\/p>\n
When comparing inventory across neighborhoods, Manhattan\u2019s Upper East Side has had a \u201ccouple of banner years\u201d Schneiderman said. The Upper East Side has about 119 units available for sale, and there are approximately 166 units expected to hit the market this fall.\u00a0<\/p>\n
Schneiderman said the slow return to heightened inventory is a direct product of the COVID-19 pandemic, as there was a \u201cbig absorption of inventory, and then the market for new products slowed in terms of the sale of development sites and capital that was in the market to finance those projects.<\/p>\n
\u201cNow that the market has shown several examples of success in the last 12 months \u2014 I could count like five or six projects that are now sold out that only came on the market less than 12 months ago \u2014 the investors or the capital markets world has gotten comfortable with investing into these projects again because they\u2019re seeing the absorption rates and the demand in the market,\u201d he said.<\/p>\n
Amanda Schiavo can be reached at aschiavo@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Pumpkin spice and everything nice, that\u2019s what fall is all about. Unless you\u2019re a condo developer in Manhattan.…\n","protected":false},"author":2,"featured_media":342108,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[3624,75,84,83,1286,9,24,63,128348],"class_list":["post-342107","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-channel","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-more","tag-new-york","tag-new-york-city","tag-nyc","tag-research-analysis-robin-schneiderman"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/342107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=342107"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/342107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/342108"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=342107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=342107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=342107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}