The Real Deal New York

Posts Tagged ‘residential market’

  • From the October issue: There goes the neighborhood — or, rather, the neighbors.

    In the current upmarket, multiple apartments in the same building are hitting the market in rapid succession, as sellers look to replicate the high sales prices obtained by their neighbors, brokers said. [more]

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  • From the July issue: Warburg Realty’s Lisa Larson scoured the East Side for more than a year with clients looking to buy a two-bedroom for less than $1.3 million. [more]

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  • economy3

    The housing recovery is faltering as new heads of household fail to emerge

    The Mortgage Bankers Association reported yesterday that mortgage credit improved again in May, with the MBA’s mortgage credit availability index jumping 1.14 percent from last month to 115.1. That’s good news for property developers and sellers, as tight lending standards have kept many potential home buyers on the sidelines. But new analysis from Bank of America suggests that other factors may prevent residential investment from returning to historical averages, at least in the near term. [more]

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  • Midtown

    Midtown

    WEEKENDEDITION Maligned by some New Yorkers, Midtown Manhattan – with its flocks of tourists and cold office exteriors – is becoming an option for families. [more]

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  • stop and go

    From the May issue: It isn’t just all those new residential towers that are reaching for the sky. The average sales price for a Manhattan apartment soared almost 31 percent higher in the first quarter, compared with the first three months of 2013. [more]

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  • Residential buildings in NYC

    WEEKENDEDITION New York City residential brokers are feeling bolder than ever, according to a new survey. [more]

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  • Sam Zell

    Sam Zell

    Equity Group Investments Chairman and billionaire Sam Zell anticipates little dramatic change in 2014′s residential housing market, is eager to tap into the urban market he says appeals to Generation Xers — and says the 1 percent is being “pummeled because it’s politically convenient to do so.” Click here to see the video.

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  • From left:

    From left: Paula Del Nunzio, 21 Beekman Place and Melanie Lazenby

    From the January issue: With the New Year underway, it’s time for a post-mortem on last year’s residential market. And in an unusual twist, industry insiders who normally rely on statistics to understand the ins-and-outs of the market are saying that it’s best to avoid the numbers when gauging how the uppermost echelon did in 2013. [more]

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  • Windhoek, Namibia’s capital city

    Windhoek, Namibia’s capital city

    WEEKENDEDITION The home to the hottest housing market in the world might surprise you. It sounds like New York City: extreme competition and tight inventory driving up prices, often leading to bidding wars. But this isn’t NYC; it’s the southern African country of Namibia. [more]

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  • Multigenerational housing trend picks up

    December 14, 2013 11:00AM
    multi-generational-family_AfAm

    A multigenerational family

    WEEKENDEDITION Multigenerational housing has been a growing trend in New York City for some time, mainly within immigrant communities, especially the well to do. But it seems the trend is branching out into more demographics as economic pressure cracks down on families.

    These multigenerational households are being created by a variety of economic factors, be it a lack of employment opportunities after college, a lost job, a foreclosure or a sinking pension. [more]

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  • Park Avenue's white-glove buildings

    Park Avenue’s white-glove buildings

    Beneath the glitz and headlines generated by record prices and $100 million listings is the reality that many trophy homes in white-glove buildings struggle to find buyers. Some are even being forced to trade for as much as a 25 percent discount.

    While some have seen the phenomenon as the result of sellers looking at the market through rose-tinted lenses, many brokers feel they are simply being too ambitious with their pricing. [more]

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  • Multigenerational housing hits NYC

    September 28, 2013 12:00PM
    10 Madison West, a multigenerational family and 150 Charles

    From left: 10 Madison Square West, a multigenerational family and 150 Charles

    The newest New York real estate trend to buck the typical logic of city living is nothing short of multigenerational family complexes. A handful of wealthy families are piecing together Manhattan homes where grandparents can live down the hall from their grandchildren. [more]

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  • From the September issue: August is usually the slowest time of year for New York City real estate — a month when brokers and homeseekers alike leave town and head to the beach. The slump was even worse than normal this year, brokers said, thanks to the scarcity of new homes for sale. [more]

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  • Donna Olshan of Olshan Realty and Michael Graves of Elliman

    From left: Donna Olshan and Michael Graves

    From the August issue: In a city where only sellers’ brokers have exclusive contracts, representing a buyer is a tough job. And now it’s tougher than ever, thanks to the ongoing inventory shortage afflicting the New York City residential market.

    With few new properties on the market, buyers’ brokers are having difficulty finding apartments to show their clients, since many apartments get snapped up even before they are listed online. [more]

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  • From the June issue: With temperatures spiking and new college graduates looking for apartments, June marks the start of the busiest time of year for rental agents in New York City.

    This year, they’re even busier than normal. As the shortage of for-sale inventory keeps a stranglehold on the sales market, brokers said they’re seeing an unusually high number of “hybrid” customers — clients who are open to either buying or renting. That’s making an already tight rental market even more competitive. [more]

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  • Williamsburg

    Only 73 condominiums sold in Williamsburg during the first quarter, a post-financial crisis low for the Brooklyn neighborhood, according to a residential market report released today by the Real Estate Board of New York.

    The figure represents a 52 percent decrease from the same time last year, the report shows. The drop can be attributed to an historic lack of condos and co-ops in the area, where new developments are mostly rentals, REBNY said. [more]

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  • From the March issue: With a continued inventory shortage and interest rates still low, bidding wars have emerged as the new norm for increasingly desperate buyers, industry experts said. And while sellers rejoice as prices get bid up, brokers struggle to please frustrated clients. Bidding wars have been prevalent for some time. But lately, brokers said, multiple bids and “best and final” negotiations — in which all of the potential buyers simultaneously submit their final offer and the seller chooses between them — now take place in the majority of deals. [more]

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  • For brokers, an early spring

    February 07, 2013 04:30PM

    From the February issue: So much for a winter slowdown. Even as the mercury dipped in January, demand for apartments was high. Driving the fast-moving market, experts said, were plunging inventory and low-interest financing. Limited inventory options and increased demand will definitely push prices higher this winter,” said Lisa Strobing, an executive vice president at Bellmarc Realty, noting that January was as busy as springtime and saw “solid traffic.” [more]

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  • Click to enlarge

    In recent years, the Manhattan residential market has careened up and down like a roller coaster. But the number of transactions has largely remained on par from where they were in the early 2000s, even as prices have climbed, a report released today by Douglas Elliman shows. The report tracked the Manhattan condo and co-op market over the past decade beginning in 2003. [more]

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  • Eric Barron and Noah Rosenblatt

    Although many Manhattan home sellers rushed to close deals before the end of 2012 — when a package of tax rate hikes went into effect — it seems that a volume of closed sales are still heading down the pipeline. As of Jan. 1, 2013 there were 21 percent more pending sales of Manhattan condominiums, co-ops and townhouses than the same day last year, according to a report issued today by UrbanDigs and Keller Williams NYC. [more]

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