The trend of decreasing inventory (i.e. homes available for sale) is still very much a reality. Many brokers report stories of harsh bidding wars for the best apartments. One agent said that his client lost his bid since he was competing against 45 other offers for a condo in Williamsburg.
It is easy to believe that in some cases the closing price ends up being higher than the asking price.
The main element that can be of advantage to buyers is the ability to buy cash and react quickly.

High Line
The Real Deal Magazine reports some facts about the High Line (the park created on a former elevated railway on the West Side of Lower Manhattan). In 1999, the organization Friends of the High Line began lobbying to create the park. Nowadays – and $152 million later – two of the three sections are fully functional while the third section is slated to open in 2014. Around 29 developments have been –or are being– built along the High Line. Between 2003 and 2011, nearby residential property values grew 103% according to The New York Times.
The project has inspired around a dozen rail line renovations globally such as in Germany, Israel, Mexico, Atlanta, Singapore, and etc.
According to The Wall Street Journal, the proposed Lowline would convert a Lower East Side trolley terminal last used in 1948 into an underground park.

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