across the pond

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across the pond

Across the pond, affluent citizens from France, Britain and other European nations who are increasingly concerned about their assets due to the deepening euro zone’s sovereign debt crisis are flying to buy one of the world’s most stable investments: Manhattan real estate. As a result of the demand from overseas, New York’s condo values are expected to increase, enabling the foreign investor to use cash to generate returns with a resale and avoid high taxes at home. To ...

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temperatures

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temperatures

As the weather heats up, so does Harlem real estate
Since Q1 2011, Harlem — particularly Central Harlem — has seen a 6.6% increase in median closing price — according to StreetEasy.com. This is the highest of any neighborhood in the city. Of note is One Museum Mile with condos above the Museum for African Art at 1280 Fifth Ave. Some units have been selling for as much as $3.1 million! A few blocks away is 1214 Fifth Ave — ...

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sharks and dow jones

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sharks and dow jones

The inventory, meaning the number of available apartments for sale in Manhattan, keeps shrinking. In April, the number of units on the market was 6,980 versus 7,834 during the same month last year. (source: Urban Digs).
The speed at which the market is moving is definitely back to high levels. There are lines of people at open houses if the property in object is priced correctly. And we are not just talking about curious observers. People are now ready to ...

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all-time high

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all-time high

Data compiled by the appraisal firm Miller Samuel shows that sales activity has been regaining momentum speedily over the first months of the year after the international economic uncertainties that affected the end of 2011. During the first 2012 quarter sales volume of Manhattan apartments (condo + coops) went up 14.9% compared to the previous quarter.
An interesting trend is that first time buyers are gradually becoming more numerous and therefore a higher number of small apartments (traditionally bought by ...

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New York City expands on the water

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New York City expands on the water

The mild winter has brought a volume of activity higher than usual both on the rental side as well as the sales side.
Potential buyers were able to visit the properties they were interested in without having to wear the heaviest coats.
The number of available condo units for sale in Manhattan went down 3.2% between January 2011 and January 2012 according to the source StreetEasy.

The fact that the City hasn’t seen too much construction going on in the past ...

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new record for upper west side townhouse

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new record for upper west side townhouse

The new highest record for a single family townhouse sold on the Upper West Side was broken last month when 247 Central Park West changed hands for: $22.4 million.
The investor who bought it is now putting it on the rental market at a healthy $110,000 a month asking price. Cheers to that.
The $3 to $5 million segment is also having a good moment and activity is good, many brokers say.
If potential buyers are complaining that there’s a ...

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