market report: Brooklyn Market Report | Fourth Quarter 2016 - 01/16/17 08:02 PM
Brooklyn Q4 2016 Report   The 4th Qtr. 2016 saw continued 2016 trends of record sale prices achieved and challenged inventory levels – less availability at the lower end of the market and increased inventory at the high end.
Contracts signed this quarter were almost level with the previous quarter, but market-wide closed sales and contracts signed were lower this quarter than a year ago.
Closed sales, which reached an all-time high in the fourth quarter of 2015, declined 26% in the fourth quarter of 2016. Contracts signed were 1% less than 3rd Qtr. 2016 and 12% below a year ago.
Inventory … (4 comments)

market report: Manhattan Market Report | Fourth Quarter 2015 - 01/08/16 09:13 PM
I am delighted to share with you our 2015 Q4 Manhattan Report.  Inside you will find a detailed analysis of residential real estate sales that closed in Manhattan in Q4 2015 (October 1st through December 31st).
Fourth Quarter 2015 wrapped up one of the most active years in Manhattan real estate, with steady sales activity during the quarter, a much needed increase in inventory, and median price hitting a ten-year high. 
 
Key Findings of the Fourth Quarter Report:
·         A new record price.  The median price for an apartment in Manhattan reached $1,100,000, its highest level ever recorded.  The median price per square foot is now $1,348, … (7 comments)

market report: First Quarter 2015 Manhattan Market Report - 04/02/15 02:20 AM
I am delighted to share with you our newly-redesigned Q1 Manhattan Report.  Inside you will find a detailed analysis of residential real estate sales that closed in Manhattan in Q1 2015 (January 1stthrough March 31st).
 
Key Findings of the First Quarter Report:
 
·         Robust sales. The pace of sales continues to be brisk. More properties closed in the First Quarter this year than in the prior quarter or in the same quarter one year ago.
·         Higher prices. Significant price appreciation, especially in the condominium market, drove most price metrics higher year-over-year. The average price per square foot in Manhattan is now $1602.
·         Skewed … (2 comments)

market report: Brooklyn Year End Market Report - 02/27/15 09:38 PM
Brooklyn Year End Review
 
Summary
Intense demand in Brooklyn fueled price improvements in all metrics during 2014. Overall average condo and co-op price was 12% higher than a year ago and average price per square foot grew 9%. Overall median price increased 3%, exhibiting slight price growth in the middle of the market.
Historically low condo and co-op inventory contributed to the 5% decline in the number of closed sales. New developments introduced during 2014 provided little relief to the long-term inventory shortage as most buildings have been met with fast absorption despite continued price increases.
Just over 3,800 apartments … (4 comments)

market report: Manhattan Market Report | Third Quarter 2014 - 01/15/15 11:54 PM
Manhattan Residential Real Estate Market Report | Third Quarter 2014

This report uses market-wide data based on transactions that closed in the Fourth Quarter 2014 (October 1 through December 31st) and compares it to closings that took place last quarter and during the same quarter last year. Closings typically occur eight to twelve weeks after a contract is signed in the resale market but can occur several years later for new developments. For that reason, the sales activity discussed trails actual market conditions. 
 
Key findings of the current report:
 
·         Inventory challenges.  Inventory has grown by 20% since last year, but almost entirely on … (2 comments)

market report: Manhattan New Developments Market Report: First Quarter 2012 - 04/07/12 04:23 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)

market report: Chelsea: "HOT Real Estate Market" "COOL" Neighborhood - 12/01/11 03:21 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 … (2 comments)

market report: The Dillon: Market Update Townhouse Units - 11/26/11 03:14 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)

market report: Harlem Neighborhood Market Report - 10/01/11 08:37 AM
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)

market report: Apthorp - Pre-War Luxury Condos - Market Report - 09/15/11 08:53 AM
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 … (4 comments)

market report: Market Report: Since 9/11 Lower Manhattan Comes Roaring Back! - 09/07/11 01:43 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)

market report: Manhattan Market Monthly Report - April 2011 - 05/11/11 05:23 PM
 
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)

market report: Manhattan Monthly Market Report - March 2011 Market Snapshot - 04/13/11 08:18 AM




 
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)

market report: Market Wide - West Side - Manhattan Market Quarterly Report - 1Q 2011 - 04/02/11 05:38 AM

 
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)

market report: Manhattan Second Quarter 2010 Market Report - 07/01/10 06:15 AM
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)

market report: Manhattan Market Report: 2Q 2009 - 07/07/09 12:08 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)

market report: Hot Town, Summer in the City - 06/27/07 09:09 AM
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)

market report: 1st REBNY Five Borough NYC Residential Market Report - 05/15/07 10:41 AM
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)

market report: Manhattan Neighborhood Market Report: TRIBECA Real Estate Guide - 04/11/07 04:03 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)

market report: Manhattan Neighborhood Market Report: Morningside Heights Real Estate Guide - 03/11/07 12:29 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)

 
Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn (Compass) Rainmaker large

Mitchell J Hall

Lic Associate RE Broker - Manhattan & Brooklyn

Manhattan, NY

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