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 ...

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 ...

The third quarter 2011 market report compiled by appraiser Miller Samuel shows how the sales activity has increased 16.7% over the same period 2010.
Prices have been mainly stable. The dollar amount paid per square foot went up 3.2%.
International buyers continue to regard Manhattan as a special market, where foreign investments prop up demand and diminish volatility.
The rebound in the rental market is, without a doubt, an attractive point for investors that look for steady returns.

untied we win
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The Real Deal magazine recently described the situation of future new condominium developments planned in New York City.
The office of the Attorney General of the State of New York has received, year to date, 89 requests for new condo constructions, which is a total of 1,903 apartments. The estimate for year end 2011 is about 2,850 new units to hit the market in the next 6 to 9 months. This number is way lower than the 4,870 units filed ...

The positive trend in the rental market continues, in some cases we are witnessing prices that are higher than the pre-crash period.
For example, a studio in a West Village doorman building was rented at $3,100 last month. The same apartment went for $2,950 in the summer of 2007.

Governor Andrew Cuomo has approved the first historical law that puts a limit on real estate tax increases. Taxes will be allowed to go up to 2% or the rate of inflation.
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The last market report produced by the appraisal firm Miller Samuel, on the second quarter 2011, tells us that Manhattan is “hiccupping” but overall trending positively.
This is true especially if we consider some areas of the city that achieved the status of “evergreen”, meaning they reached their full splendor and are growing steadily. An example is the Upper West Side.
The sales volume is more or less the same as last year, but there was indeed a 10.7% increase ...