manhattan: Market Overview March 2008 - 03/04/08 08:02 AM
The first quarter is almost over and here is where we stand on prices. 
I thought it might be interesting to pass the market stats for Manhattan Sales.
Average listing prices :
Studios $636,942
One Bedrooms $938,994
Two Bedrooms $1,703,963
Three Bedrooms $3,229,273
 
 
The address everyone seems to want is UES. Here are some sprinklings of listing available now...
Rentals:
Studio on East 81st $1725
Studio on East 74th $1750
1 Bedroom on East 85th $1975
2 Bedroom on East 84th $2695
Sales: 
The Henry T. Sloane Mansion on East 68th $64,000,000 
Well you get the idea, the market has slowed but the bubble hasn't burst :)
 
 
(0 comments)

manhattan: The Price of Admission - 01/10/08 03:38 PM
For the few and the proud (about 8+ million in all) who live in the urban jungle of Manhattan there are many costs involved in renting and owning. The biggest price of admission is provable income. Unlike the mortgage debacle with "Stated" Incomes, Landlords in Manhattan want to see hard valid statements of income, and a lot of it! The standard formula is 40x the monthly rent + sterling credit (700+) nothing in the public record etc. And for goodness sakes don't end up in Landlord / Tenant Court.
The included graph shows just what it takes to rent in the … (3 comments)

manhattan: MANHATTAN DEFIES $LUMP - 01/03/08 05:27 PM
Happy New Year! 
Get out the checkbooks, your going to need them. 
I won't rehash the article, just check out the link below.
MANHATTAN DEFIES $LUMPAll I will say is that Apartment prices are going INSANE.  If the new planned Columbia expansion happens, watch out! If you own property up that way it is going to skyrocket much like Coney Island has and they haven't even taken a shovel to the ground. 
If you look to Long Island City the base price for
    500 sq ft Studio is about $2000 give or take $100.  
    1000 sq ft Live / Work loft $3200
    … (0 comments)

manhattan: Apartment Update 12/29/2007 - 12/29/07 01:08 AM
Well it is once again the end of the year and residential rental prices find themselves at all time highs in every borough. I went to find a one bedroom on the East Side / Upper East Side for a client who's price point was $1500.  Not until 116th and 2nd ave. did I find anything close to what she was looking for.  Reality check here..  I recently rented a 10x11 studio with a full bath and stove fridge combo for $1400 a month in the mid 60's by Lincoln Center.  I'm not proud of the space, but the client was … (1 comments)

 

Andrew King

Avalon, NJ

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