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2007 2nd Quarter Manhattan Market Overview 2007-07-12 13:32:38 The housing market in Manhattan
has continued to outpace the rest of the country. The number of sales increased and prices rose while the inventory is being depleted in the second quarter of 2007. The average sales price of a Manhattan apartment is now $1,333,316, a 3.3% increase over last quarter, however, 3.8% below the prior year quarter. The median sales price increased to a record $895,000 7.2% above the prior quarter and 1.7% above the prior year quarter. The average price per square foot also set a record at $1,139, 6.4% higher than last quarter and 5.2% higher than the prior year quarter. "All the economic factors are right for the Manhattan real estate market" said Dottie Herman, CEO and President of Prudential Douglas Elliman. "Interest rates are good, job creation is strong, and we’ve had great leadership. This is one of the most vibrant cities in the world. Residential real estate here continues to be a strong investment for national and international buyers." These are Read more:Market
, Overview
New Exclusive Listing - 350 W 50th St - 19H, New York, NY 10019 2007-07-29 13:11:23 Perfect 1031 exchange . Tenant in place until December 2007. Residence 19-H is a corner one bedroom with spectacular views, Northeast exposure, flooded with morning sun.
It has a galley kitchen. Marble bath, and lots of closet space. The Residences at Worldwide Plaza is a full service condominium located within walking distance of Central Park, Hudson River Park, Rockefeller Center, St. Patricks Cathedral, numerous restaurants, museums and points of interest. Steps from the C, E, 1, N, R, and W subway lines and cross-town buses. Large Ballys gym and Garage on the premises with resident discounts.
Apartment Features: East exposure, North exposure, Full city view, Floors - parquet, Light - excellent, Marble bath, Great closet space, Dishwasher Building Features: Courtyard, Roof deck, Pool, Health club.
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, New York
State of the Real Estate Financing Industry (August 2007) 2007-08-21 13:06:36 By now we are sure you are well aware of the recent changes in the real estate financing industry, as well as the allegedly bleak outlook that has been portrayed in the media. We'd like to take this opportunity to shed some light on the current market and to address any concerns. The future is simply not nearly as grim as depicted in the press.
How did we get here?
Most mortgages are bundled together by lenders into securities and subsequently sold to investors.
Over the past couple of years, housing grew at an unprecedented level. So too did the demand for seemingly low-risk, high-yield mortgage-backed securities.
As the markets heated up and investors became comfortable with the volume of these securities, investors continued to buy–even while credit standards became more relaxed. Additionally, lenders put systems such as automated underwriting into place to expedite the approval and funding of mortgage loans.
Even though these mortgages were originated and approved u Read more:State
, Estate
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, August
New Exclusive Listing - Gramercy Area - 200 East 24th Street APT# 508 2007-08-28 11:17:11 Great Location!! Gramercy Area. Don't miss this Oversized and bright Junior one bedroom, Updated kitchen with stainless steel appliances. Ample closet space. Hardwood floors. Full Service 24 Hr Doorman Building. Central Laundry room, Roof deck, Bicycle & Common Storage, Garage. Pet Friendly. Close to Union Square, Gramercy Park, Madison Park and Subways.
OPEN HOUSE: Sun, Sep 2 -- 1:00 PM-3:00 PM
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Read more:Exclusive
, Street
New Exclusive Rental Apartment - West Village - 100 Bank St - 1F West Village 2007-09-11 13:33:50 Rare Find!! Mint Renovated studio rental on Bank street. Prime West Village
, tree lined cobblestone street. One Block from the Park.
Open House 09/30 12:00 PM - 1:30 PM
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About West Village
The West Village is part of the Greenwich Village neighborhood in the New York City borough of Manhattan, bounded by the Hudson River and roughly Sixth Avenue, extending from 14th Street down to Houston Street. Bordering neighborhoods include Chelsea to the north and TriBeCa to the south. The neighborhood is distinguished by streets that are "off the grid" — set at an angle to the other streets in Manhattan — sometimes confusing both tourists and city residents alike. These roads were paved in the colonial period, long before the Commissioners' Plan of 1811 which created the main street grid for the rest of the city. Even streets that are nominally part of the grid can be idiosyncratic, at best. West 4th Street crosses West 10th, 11th and 12th Streets, Read more:Exclusive
, Rental
New Exclusive Rental Apartment - Upper East Side - 404 East 76th Street Apt# 7I 2007-09-11 13:22:29 Sunny and immaculate one bedroom one bathroom apartment with southern exposure, boasting 9ft ceilings and crown molding, and sitting on the highest floor of the low rise (so there is no one above you). The living room and bedroom were masterfully re fitted with tasteful and fully functional cabinetry and closets less than two years ago. The closets are aromatic cedar and there is a custom shoe rack. The kitchen is enveloped in granite counter tops and has full-size appliances. The bathroom features a black marble vanity top with ceramic and porcelain trim, and is tiled throughout. There is a Bosch washer dryer in the apartment for your ultimate convenience. There is a substantial hidden storage space in the bedroom that is easily accessible.
THIS PROPERTY IS CURRENTLY UNDER CONTRACT.
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The Impala is a premiere full service condo building designed by award winning architect Michael Graves. The ultra luxury building has a full time concierge, playroo Read more:Exclusive
, Rental
, Upper
, Street
2007 3rd Quarter Manhattan Market Overview 2007-10-03 15:29:32 The Manhattan
residential real estate market saw more of the same characteristics as the prior 2 quarters of 2007 did. An elevated number of sales, declining inventory, modest price increases overall but sharp increases seen at the upper end of the market. It is likely too soon that the events of the credit crunch that began in mid-July will have an effect on market conditions in the 3rd quarter. Its impact, if any, would more likely be seen in the coming two quarters.The number of sales increased 65.6% this quarter to 3,499 units as compared to the 2,113 units sold in the prior year quarter.Listing inventory fell 31.7% to 5,204 units from the prior year quarter total of 7,623 units.Days on market was 123 days this quarter, faster than the 150 days seen in the same period last year.Listing discount was 2%, down from 4% during the same period last year.Price levels were generally up this quarter, with the greatest price gains seen in larger apartments, namely 3-bedroom and 4-bedroom Read more:Market
, Overview
New Exclusive Listing - 213 West 85th Street Upper West Side Brownstone 2007-10-25 23:00:33 Unique opportunity!. UpperWest Side
Brownstone. SHOWING NOW BY APPOINTMENT ONLY.GET EARLY ON CONSTRUCTION PRICES!
First Offering. New Condo Conversion. This Unique 3 bedroom / 2 bath floor through home consists of 10 Foot Ceilings, Crown moldings, gas fireplace, large open chef's kitchen with granite counters,and Viking Appliances. Washer/Dryer, Jacuzzi tub ,Steam Shower, exposed brick and a key lock elevator which opens into each unit. The complete offering terms are in an offering plan available from the sponsor -CD 060668
BY APPOINTMENT ONLY GET EARLY ON CONSTRUCTION PRICES. ACCEPTING BUYERS,BROKERS/INVESTORS INQURIES. Call (212) 692-6197
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About Upper West Side
A jumble of parks, theaters, historic buildings, museums and prestigious universities create what many would consider the quintessential Manhattan neighborhood. Upper West Side is just that to its eclectic mix of families, business executives and artists who call it home. With such a Read more:Exclusive
, Street
New Exclusive Listing - 350 W 50th St - 4B, New York, NY 10019 2007-11-08 11:04:56 Residence 4B is a very spacious corner one bedroom. This apartment has Southern Exposure and it's flooded with sun throughout the day. There is a pass through kitchen. Marble bath, and ample closet space.
The Residences at Worldwide Plaza is a full service condominium located within walking distance of Central Park, Hudson River Park, Rockefeller Center, St. Patricks Cathedral, numerous restaurants, museums and points of interest. Steps from the C, E, 1, N, R, and W subway lines and cross-town buses.
Building Features: Courtyard, Roof deck, Pool, Health club.
OPEN HOUSE: Sun, Nov 11 -- 2:00 PM-3:30 PM
New! View this Property in 3D with Virtual Tour!
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WORLD WIDE PLAZA 350 WEST 50th STREET
The residential portion, containing 455 condominium apartments, of this major development is one of the most distinguished in midtown.
A 35-story tower in midblock at 393 East 49th Street faces on a very attractive plaza that separates it from the 5 Read more:Exclusive
, New York
2007 4th Quarter Manhattan Market Overview 2008-01-03 11:54:40
In the final quarter of 2007, the Manhattan
real estate market continued to see gains in most market indicators, consistent with the prior three quarters including increased price levels, increased number of sales and a decline in inventory as compared to the same period in 2006.Price levels were generally up this quarter, with the greatest price gains seen in larger apartments, specifically 2-bedroom and 3-bedroom units with 22.1% and 39.8% gains respectively over the same period last year, with a portion of the increase in price attributable to an increase in the size of the units actually sold.
The median sales price increased 6.4% to $850,000 over the prior year quarter result of $799,000 (1.7% below prior quarter result of $864,397).
The average price per square foot increased 18 Read more:Market
, Overview
2008 1st Quarter Manhattan Market Overview 2008-04-02 11:51:14 It is my pleasure to provide you with Manhattan
's first quarter housing results prepared for us by the leading real estate appraisal and consulting company in the area by using only closed sales data derived from a variety of sources.
Manhattan's residential real estate market continues to show increased prices stemming from a strong luxury segment especially influenced by the closings at two key buildings, 15 Central Park West and The Plaza. The key indicator of market activity this quarter is the reduction in the number of sales overall, a drop of 34.3% from the same time last year.
Some highlights of the first quarter include the following: The median sales price, average sales price and average price per square foot all set records at $945,276, $1,722,991 and $1,289 respective Read more:Market
, Overview