the ones that…show up again

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the ones that…show up again

In the mid 2000s, particularly the period between 2003 and 2008, the hurry to buy New York City real estate was almost comparable to the California Gold Rush of the mid 1800s. As we know, everything then changed at the end of the last decade; after the 2008 financial crisis the real estate market tanked.
Nowadays, after a period of stabilization, there are several trends to note: home values are not declining anymore and had a tendency to go up ...

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the new trend: bigger apartments

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the new trend: bigger apartments

New Yorkers are nicer these days. It seems everyone is smiling on the streets of the Big Apple; or their faces are just frozen in a joker-like grin?
Now seriously, I think this arctic weather has affected the market in the recent months. This chill is inviting no one to venture out in search of real estate deals.
One broker even recently tweeted: “canceled our open house at our new listing at 565 Park – will reschedule in spring when ...

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true only on Central Park West

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true only on Central Park West

Do you remember Nouriel Roubini?
He is the famous pessimist-economist that correctly predicted the 2007-2009 crisis.
Well, he recently bought a $5.45 East Village condo. Who knew there even are apartments that pricey in that neighborhood?
Given he looks at the glass cup half empty, he must think the market is going up. Good to know!

One World Trade Center is halfway up. Mazel tov!

looking back at 2010
It’s not easy to interpret the 2010 residential sales market.
The beginning of ...

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Dear Santa, we are almost in high spirits!

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Dear Santa, we are almost in high spirits!

Here in the Big Apple, we continue to witness remarkable transactions lately.
At the beginning of November, a contract was signed for the sale of an apartment at 15 Central Park West, constructed in 2006 and considered, for its beauty, the Prima Donna of the real estate residential market. The price, $40 million, will mark, when it closes, a new record for price paid per square foot: more then $10,000.
Another recent record from the month of November involves the ...

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no need to think twice

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no need to think twice

The seasonal pattern of the residential sales real estate market is coming back. After the Lehman Brothers crash in September 2008, we witnessed the financial storm taking place in front of us that interrupted the seasonality trends typical of NYC real estate. Starting this year, however, we are back to a strong spring sales season, followed by a slower summer, a good autumn and an expected physiologically weaker Winter Holidays period.

The third quarter 2010 Prudential Douglass Elliman report says that ...

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slim snaps a good one

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slim snaps a good one

Transaction activity, after the summer slowdown of July and August, has resumed at a very decent pace.
If during the last two years potential buyers were just looking, they are now acting. Deals are actually going through especially because financing is once again available.
Sure, the process of getting a mortgage is not as simple as it was during the era (that looks like the Jurassic period nowadays) preceding Lehman Brothers’ crash, but it is becoming less challenging than it ...

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