Since the late 1960s, Manhattan has seen an average of roughly 12,000 new development rental units hit the market each year, according to Columbia University’s Center for Urban Real Estate. But as data from the brokerage Citi Habitats shows, only 15,723 new development rentals units came on the market from 2008 to 2012.
The pipeline of new rentals is now beginning to recover from the recession. There are some 23,000 new development rental units slated to come on ...

In recent months I talked about new condominium developments being built. For example several luxury skyscrapers are coming up on 57th Street. But even adjusting for these new constructions, the market is still in need of new “inventory” – i.e. more apartments for sale.
Many experts say that it will likely be a few years before the city sees a noticeable uptick in the number of homes on the market.
Resales seem to be moving at a slower pace since ...

New York City real estate welcomed the latest massive apartment listing last month: a unit at the exclusive Midtown co-op River House hit the market for a whopping $130 million, becoming Manhattan’s priciest-ever residential listing.

The borough saw 3,837 closed sales in the third quarter, a dramatic 30 percent increase from 2,952 in the same period of last year, according to a market report released by Miller Samuel.
On the other end the average price of a Manhattan apartment in the third quarter was $1.43 million, a 0.7 percent decline from $1.44 million in the same quarter of last year, according to Miller Samuel’s report. The median price, meanwhile, dropped 2 percent year-over-year to $872,000, ...

After the final ballot has been counted in next month’s election, New York City will have a new mayor for the first time since 2002. Whoever wins will get the keys to the city and to one of the most valuable homes in New York — Gracie Mansion, the official mayor’s residence at East End Avenue and 88th Street.
Here are some facts about this historic building.
A different building on approximately the same site was commandeered by George Washington ...

According to a recent poll from Ipsos MORI, which surveyed more than 18,000 in 24 countries, New York ranks as the world’s favorite city. London was number two followed by Paris at number three. Not only is the city the world’s favorite, but it is the fifth-best place to live. The second-best place to visit and the absolute best city in which to do business, the poll said.

The tourism industry in New York has never been healthier. Last year, a ...