market report: Manhattan New Developments Market Report: First Quarter 2012 - 04/07/12 11:23 AM
Manhattan New Developments
New development supply has diminished substantially, particularly at the high-end of the market, impacting sales and price statistics. While most properties that have been on the market continue to absorb steadily, newly introduced developments in prime locations are absorbed rapidly but since a number of properties haven’t begun closings, these sales are not reflected here.
Compared to a year ago, median price declined 13% to $990,000, due to a 9% decline in three-plus bedroom median price, a 30% decline in Downtown median price and increased share of one-bedroom sales both Uptown and Downtown. Average price per square … (4 comments)
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market report: Chelsea: "HOT Real Estate Market" "COOL" Neighborhood - 12/01/11 11:21 AM
Chelsea: Manhattan Neighborhood Market Report
Chelsea is located between 28th Street and Greenwich Village on the West Side.
Chelsea is largely a residential area with a varied mix of high-and mid-rise buildings, brownstones and industrial lofts. The architecture in this area is unique. East of Ninth Avenue, the spacious and stylish loft warehouses give way to stunning landmark townhouses, prewar co-ops and new luxury glass high-rise buildings.
For many years Chelsea was the heart of the Garment and Flower districts until recently. Chelsea today is one of the city's hottest zip codes and coolest neighborhoods. It is now considered … (3 comments)
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market report: The Dillon: Market Update Townhouse Units - 11/26/11 11:14 AM
The Dillion - Clinton/Hells Kitchen - New Condo Development The Dillon, a new development, 83-unit condominium at 425 West 53rd Street between Ninth and 10th avenues, had a broker party recently to debut its townhouse units and showcase its penthouses. Walls are angled to draw the eye out and through. The building’s rippled exterior allows for views westward, towards the river, and to the iconic eastern cityscape. The designer apartments' walls, hand-painted by New York painter Mark Chamberlain in colorful stripes and honeycomb patterns. BMWs were temporarily on display in the garage to show off the underground parking. Developed by SDS … (3 comments)
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market report: Harlem Neighborhood Market Report - 10/01/11 03:37 PM
Harlem was established in 1658 by the Dutch and named Nieuw Harlem after the Dutch city of Harlem. This large section of Manhattan real estate has a deep spirit, culture and history.
Apartment buyers can explore new buildings that range in size and style from studios to three-bedroom condos, co-ops to luxury lofts, along with renovated historic brownstones and townhouses.
Developers have converted brownstone, shells of buildings and narrow vacant lots into condominium apartments. For Harlem home buyers, this wave of condo conversion in Harlem provides an opportunity to live in a neighborhood with small-scale buildings. Harlem zoning does not allow … (8 comments)
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market report: Apthorp - Pre-War Luxury Condos - Market Report - 09/15/11 03:53 PM
Apthorp Apartments
With it's iron gates, its monumental tunnel like entrances, and its impressive interior courtyard, The Apthorp is one of Manhattan's most dramatic and photographed apartment buildings.
The elegant full-block apartment complex was built by the Astor family for the New York elite.
Apthorp Apartments recently converted to condominiums. The landmark 1908 Upper West Side building has two addresses 390 West End Avenue and 2207 Broadway between west 79th and west 78th streets
Current Available Apartments:
One to Five Bedroom Condominiums from $2 million to $14,950,000 available from sponsor. Current resales include a Penthouse Studio in the … (6 comments)
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market report: Market Report: Since 9/11 Lower Manhattan Comes Roaring Back! - 09/07/11 08:43 PM
9/11 - New York's Real Estate Market A Decade Later
I will always remember those innocent lives lost and all the heroes who sacrificed their lives to save others and the brave men and woman in the military.
This blog is a market report about the Rebirth of Lower Manhattan and New York's Comeback 10 years later.
Since September 11, 2001, the number of people living in Lower Manhattan has nearly doubled. In fact, Lower Manhattan has added more people over the past ten years than Atlanta, Dallas and Philadelphia combined.
Our city’s rapid economic recovery was the result of strong … (5 comments)
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market report: Manhattan Market Monthly Report - April 2011 - 05/12/11 12:23 AM
Both condo and coop sale prices increase in April compared to a year ago and March 2011. As always, I will continue to follow closely Manhattan marketwide and neighborhood sales activity and trends in residential real estate, and would welcome the opportunity to answer any questions you may have about the report or the market generally.
Local and global real estate questions are always welcome.
courtesy of:
Mitchell Hall, Associate Broker, The Corcoran Group
Manhattan Apartment Seller Manhattan Apartment Buyer Manhattan Market Reports
… (0 comments)
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market report: Manhattan Monthly Market Report - March 2011 Market Snapshot - 04/13/11 03:18 PM
On April 2, 2011, I published highlights from the 1st Quarter 2011 Manhattan Market Report with a link to download the complete comprehensive report. That post focused on quaterly market data and trends with an emphasis on the West Side of Manhattan.
This report is a snapshot of March 2011 based on Corcoran Group's signed contract data with the exception of "Number of Contracts Signed" and inventory figures. Number of reported signed contracts in Manhattan by all firms.
As always, I will continue to follow closely Manhattan marketwide and neighborhood sales activity and trends in … (3 comments)
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market report: Market Wide - West Side - Manhattan Market Quarterly Report - 1Q 2011 - 04/02/11 12:38 PM
The Manhattan market had a solid performance during First Quarter 2011. The number of sales was improved both versus last year (up 6%) and last quarter (up 7%). Prices continued their steady course.
Market-wide for all apartments the average price was up 2%, median price was down 2% and average price per square foot was down 1% versus First Quarter 2010, all negligible changes. Listed inventory is virtually unchanged from First Quarter 2010 at approximately 9,000 units available for sale.
However, nuances in supply and demand are having different effects between various neighborhoods, product types and market segments. For … (11 comments)
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market report: Manhattan Second Quarter 2010 Market Report - 07/01/10 01:15 PM
Manhattan 2nd Quarter 2010 Corcoran Report has been released. The report is a quarterly examination of Manhattan's residential real estate market. This report utilizes market wide data based on deals that closed in the Second Quarter 2010 (April 1 through June 30) and compares it to closings that took place last quarter and during the same quarter one year ago. Closings usually occur eight to twelve weeks after a contract is signed (in a new development, the wait can be as long as two years); for that reason, the sales activity charted here trails actual market conditions.
The Second Quarter … (0 comments)
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market report: Manhattan Market Report: 2Q 2009 - 07/07/09 07:08 AM
Corcoran has released its Second Quarter Corcoran Report, our quarterly survey of residential real estate sales in Manhattan. This report compares data based on deals that closed in 2Q 2009 (April 1 through June 30) with that of 2Q 2008.
The impact of the credit crisis and the national recession manifested in this quarter's report with marked declines in sales activity and sale prices over the prior year. 2009's Second Quarter posted 50% fewer closings over 2008's. An oversupply of available properties coupled with retreating demand in the first part of the year forced sellers to lower prices in order … (3 comments)
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market report: Hot Town, Summer in the City - 06/27/07 04:09 PM
Summer is here and the Manhattan Residential market has not cooled down. Sales activity remains strong, especially among the priciest properties reports The Real Deal.While new condos hit the market, co-ops are in short supply. Listing inventory is up, but less than last year and the upper end of the market is thriving.On May 15th I posted the REBNY Residential city wide sales report that reported a 23% increase in apartment sale prices in NYC for the 1st quarter of 07 compared to 06. According to the REBNY report the average first quarter sale price rose to $1,107,000 in Manhattan.Jonathan Miller, … (4 comments)
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market report: 1st REBNY Five Borough NYC Residential Market Report - 05/15/07 05:41 PM
REBNY Issues New York City Wide Five-Bourough Residential Sales Report
In a five-borough residential report released by the Real Estate Board of New York, the average price of an apartment jumped 23 percent, while each borough recorded a higher average price for one- to three-family dwellings in the last 12 months.
According to the quarterly report, the average price for New York City apartments rose 23 percent, to $745,000, in the first quarter of 2007, compared to a year earlier, while the median price for city units rose 20 percent, to $450,000.
At $1,107,000, Manhattan had the highest average, with Brooklyn second, at … (8 comments)
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market report: Manhattan Neighborhood Market Report: TRIBECA Real Estate Guide - 04/11/07 11:03 PM
TRIBECA - 10013 - The name is an abbreviation of: TRIANGLE BELOW CANAL
Tribeca, Manhattan's downtown neighborhood runs from Canal Street south to Park Place, and from the Hudson River east to Broadway. Tribeca's charming cobblestone streets are lined with spacious residential loft buildings that were converted from industrial warehouses. There are new glass condo lofts, restaurants and boutiques.
Tribeca only became one of Manhattan's most fashionable places to live in the last 15 years. The neighborhood has evolved from an in expensive area where shopkeeper's and artisans, who could not afford the higher rents along the East River, built their wooden houses in the 18th century. After the Civil War, the … (4 comments)
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market report: Manhattan Neighborhood Market Report: Morningside Heights Real Estate Guide - 03/11/07 07:29 PM
Morningside Heights is the academic quarter of New York City. It stretches irregularly from north of 96th Street to about 123rd Street between Morningside Park and Riverside Park on the Upper West Side of Manhattan.
From the top of a 135-foot bluff, it overlooks the Hudson River on one side and Harlem on the other. It is about 15 minutes from midtown Manhattan by subway. With apartments on the "Gold Coast" of Riverside Drive selling for well over $1,000,000, Morningside Heights is one of th granted scenic landmark status toe more desirable residential neighborhoods in Manhattan.
The area that is now Morningside … (10 comments)
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market report: CHELSEA: Manhatan Neighborhood Real Estate Guide - 02/27/07 02:01 PM
Chelsea "HOT" real estate market - "COOL" Neighborhood
Chelsea is located between 34th Street and Greenwich Village on the West Side. Chelsea is largely a residential area with a varied mix of high-and mid-rise buildings, brownstones and industrial lofts. The architecture in this area is unique. East of Ninth Avenue, the spacious and stylish loft warehouses give way to stunning landmark townhouses, prewar co-ops and new luxury high-rise buildings.
For many years Chelsea was the heart of the Garment and Flower districts until recently. Chelsea today is one of the city's hottest zip codes and coolest neighborhoods. It is now considered a … (50 comments)
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market report: Manhattan Neighborhood Market Report: Clinton/Hells Kitchen Real Estate Guide - 02/27/07 12:09 AM
Clinton - Hells Kitchen - Midtown West
Some still argue about the exact boundaries of Hell's Kitchen, but it's commonly considered to run from 34th to 59th Streets and from Eighth Avenue to the Hudson River. The area is also known as Clinton and long-time residents use the two terms interchangeably. East of Eighth Avenue including Carnegie Hall and Time Square is considered midtown west.It has been a long time since Hell's Kitchen earned its reputation - the one from the gang fights in "West Side Story" in the 60's. Hells Kitchen has always been a neighborhood, made up of blue-collar … (7 comments)
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market report: Manhattan Neighborhood Market Report: SoHo Real Estate Guide - 02/11/07 07:23 PM
SoHo
New York, NY 10013
SoHo ( stands for South of Houston - pronounced "How -Stun")
Soho is a premiere destination for the world's trendiest jet setters, New York's SoHo district has something to offer just about everyone. Bordered to the North by Houston Street, to the South by Canal Street, to the West by Sixth Avenue and to the East by Broadway.
Soho is characterized by the imposing cast-iron architecture of the late 19th Century that was built for manufacturing and warehousing. The beautiful cast iron structures that characterize the area were New York's original skyscrapers, … (10 comments)
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market report: Manhattan Neighborhood: Battery Park City Real Estate Guide - 01/26/07 10:47 AM
Due to my internet presence, I've been in the news recently. Last week I was interviewed by The Korean Broadcasting Network about Battery Park City the section of lower Manhattan that became famous on 9/11/01 because of it's proximity to The World Trade Center. Yesterday an interview I did ran in Metro New York about Battery Park City titled "On the Waterfront"
Ive mentioned Battery Park City in previous blogs but this blog is devoted to the unique Manhattan neighborhood.
Battery Park City is unique because it is on a portion of land that is leased by the city. Instead of paying real estate taxes, … (15 comments)
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market report: Manhattan Neighborhood Market Report: Upper West Side Real Estate Guide - 01/22/07 10:41 AM
The Upper West Side extends north from Columbus Circle at 59th Street up to 110th St. and is bordered by Central Park West and Riverside Park. The Upper West Side is separated from the Upper East Side by Central Park.Between 72nd and 96th Street most of the buildings are not taller than about 20 stories and they are mostly pre war buildings. The American Museum of Natural History is located on a stretch of Central Park West between 77th and 81st Streets, The museum's new Hayden Planetarium is a galactic spectacular and is well worth the invested time. From 59th Street to … (7 comments)
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