The Manhattan residential market is riding a wave right now – a long, aggressive run that has shown no evidence of slowing down, according to Rubicon Property CEO Jason Haber, who appeared on Fox Business.
“If anything, over the last few months, we’ve seen an acceleration, primarily because supply is just so low and demand continues to increase,” he said.
Anchor Liz Claman pointed to average New York City home-sale prices rising to $1.4 million in the second quarter, and August new home sales climbing 12 percent year-over-year. Rubicon brokered the lease of a rental at 5 East 78th Street that went for $23,000 a month.
However, there is some uncertainty about the state of the market after Mayor Michael Bloomberg leaves office, Haber said.
The change of leadership will affect quality of life in the city, he said, but “I think New York will continue to prosper.” — Mark Maurer