Bill Rudin stays bullish on Manhattan resi market: VIDEO

Greenwich Lane is 90% sold out, at roughly $3,500 per square foot, he said

TRD NEW YORK /
Sep.September 30, 2015 09:12 AM




Behind the story:
Rudin Management

Rudin Management’s CEO doesn’t believe the hype about the slowdown in Manhattan’s residential market, according to an interview with Fox Business Network.

Bill Rudin played down recent reports of falling prices in the third quarter of 2015, citing New York’s built-in attraction as well as “tremendous demand” for his own company’s new products.

Rudin said the 3 percent price drop reported earlier this week was merely due to “summer doldrums.” He suggested, in an interview on Fox Business, that the “trend towards urbanism, with young people wanting to come to New York” would continue to propel demand.

He cited examples close to him, such as Rudin’s Greenwich Lane project, which will include 199 condos in five buildings on 11th and 12th streets in the West Village. Rudin said the project was already 90 percent sold out, at prices averaging roughly $3,500 per square foot.

Back in March, a Keller Williams broker, Tina Nguyen, was killed by a piece of plywood blown from the site. [Fox Business] – Ariel Stulberg


Related Articles

arrow_forward_ios
Angel Oak Cos. CEO Michael Fierman and Flagstar Bancorp Inc. CEO Alessandro DiNello (Credit: Angel Oak, Flagstar, iStock)

Mortgage market dries up for unconventional home loans

Bernie Sanders (Credit: Getty Images)

Bernie Sanders throws support behind New York rent-suspension bill

The 30-year fixed rate dropped to 3.5 percent this week (Credit: iStock)

Mortgage rates fall, but who’s buying?

Gov. Andrew Cuomo (Credit: Bennett Raglin/Getty Images)

NY regulators lay out specifics of homeowner mortgage break

Real estate brokers across the country have been adding standardized coronavirus-related legal language and addendums to help buyers manage risk.

The coronavirus clause is now a thing in resi deals

FHFA Director Mark Calabria (Photo by Zach Gibson/Getty Images)

Fannie, Freddie offer multifamily landlords a break — strings attached

Governor Andrew Cuomo (Credit: Getty Images, iStock, and Pixabay)

Cuomo’s executive order tells banks to give homeowners a break

Lennar’s Stuart Miller

Lennar says homes are still selling despite coronavirus

arrow_forward_ios
Loading...