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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in the center lies virtue

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in the center lies virtue

The statistics show that the median price for an apartment sold in Manhattan in the third quarter of 2011 was $855,000, an increase of 1.2% compared to the same period in 2010 (source: Miller Samuel).

The flow of foreign buyers investing in New York stays consistent. Many consider the investment in the U.S., and especially New York City, safer than betting on their own countries.
The number of signed contracts, as a result, has been increasing in the previous months. In ...

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growing up

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growing up

We are getting closer to the end of the year and, especially in this period, we would all like to own the proverbial crystal ball in order to see what 2012 has in store for us.
The signals from Manhattan residential market are comforting. In spite of the worldwide news of financial despair, this little island seems to be keeping up with its historical habit of not being bothered much by human troubles. Jokes aside, the fact that rental prices ...

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seasons switch

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seasons switch

Last month the co-founder of Microsoft, Paul Allen, has bought a penthouse on the Upper East Side for $25 million.
Nowadays potential buyers, who are actively looking, are used to the international economic environment that still presents signs of uncertainty and they seem less affected by it, they are ready to make decisions relatively fast. The bumpy stock markets don’t influence who is really serious about buying real estate in New York City.
The real estate residential market here is ...

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