U.S. home prices jumped 9.7 percent in January from the same month in 2012 and NYC properties grew at even a slightly higher rate, according to new report released by CoreLogic. This nationwide figure, which included distressed sales, marked the 11th consecutive monthly increase and the biggest since April 2006. In the New York metropolitan area, which includes White Plains and Wayne, N.J., home prices with distressed sales factored in rose 11.1 percent year-over-year in January.Continue Reading → Share
Acquisition and development firm Keystone Group is slated to bring a luxury seven-story condominium (with retail on the ground floor) to a prime West Village location — 130 Seventh Avenue South. In December, Keystone — also at work on 391 Broadway — paid $6.3 million, or $1,983 per square foot, for the 3,500 square-foot property between Charles and West 10th St — once home to Veranda restaurant. No word yet on the design (but the site is within the Greenwich ...Continue Reading → Share
We have officially reached the lowest level of inventory available since the year 2000. The appraisal company Miller Samuel reported that in the fourth quarter of 2012 there were only 4,749 units (condos and co-ops) available for sale.
Similarly the website StreetEasy showed that the number of listings available declined almost 14% from the last quarter of 2011 to the last quarter of 2012.
Needless to say, well priced apartments receive multiple offers after the first open house and end ...
a “small” deal says it all
Sales volume didn’t seem to decrease at the turn of the year. Data by company UrbanDigs show that as of January 1, 2013 there were 21% more pending sales (meaning sales that are about to close and for which a contract has been already signed) of Manhattan condominiums, co-ops and townhouses versus the same day last year. The area with the highest increase is Harlem/Morningside Heights with a jump of 117% year over year.
meals that matter
The Real Deal reports on the brokers’ favorite dining spots to meet clients and speak about big bucks. On the Upper East Side, the Metropolitan Club, founded by J.P. Morgan in 1891 at 1 East 60th Street, is a classic. No press, no photographers, no cell phones permitted; the privacy is almost total here. In midtown, the Four Seasons remains a hallmark and needs no introductions. Nearby at 60 East 55th Street, the Core Club has been ...
One World Trade Center is expected to start welcoming its first tenants by the end of 2013. Condé Nast is famously the largest one to have signed up already (it will be a total of 1.1 million square feet of leased space); roughly 5,000 employees of the company should move into the building by 2013. The tower is supposed to be completed shortly after. The media company is a fantastic addition to the commercial mix of the Financial District which ...Continue Reading → Share