From the November issue: A year after the financial crisis, Manhattan real estate brokers report that the market is finally returning to normal. But they don’t mean the lightning-fast sales and skyrocketing prices of the recent real estate boom. They’re talking about a more moderate, predictable real estate market, the likes of which hasn’t been seen in Manhattan for years. “The last three years have been very interesting,” said Jill Bane, an associate at Leslie J. Garfield & Co. Before the market cratered as a result of the subprime crisis, “prices were very high and there always seemed to be several competing bids,” she said. Now, however, “a sense of normalcy has returned to the market,” said Bane. Bane represented a townhouse at 17 Bank Street, on the market for $10.5 million, that recently went into contract. “People are buying; they are just not as irrational as the prior two to three seasons.”
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TWEETS
- This week, @DouglasElliman dominates @trdny's "Top Residential Agents" list, scoring three of the top five spots. http://t.co/WuwFfoQI 10:26:54 PM May 25, 2012
- Here's some #NYC residential sales data before you head off to the #Hamptons via @trdny http://t.co/41pt08N4 08:54:27 PM May 25, 2012
- Marcia Gay Harden gets $2.8M for #Harlem townhouse listed by@cathytaub of @StriblingNYC http://t.co/pR718yY4 via @trdny 08:47:36 PM May 25, 2012
- Boymelgreen, Africa Israel settle with @AGSchneiderman over 20 Pine St. construction, but face new $20M suit http://t.co/wYyqrfBP via @trdny 08:16:42 PM May 25, 2012

