july Archives - Rava Realty

Manhattan Luxury Market Reality Check

Posted by:

With this report, we are going to tell you at what prices luxury properties are actually closing and what was their actual negotiability factor, anybody interested in getting a discount?

There were 83 closings at $4 million and above in July 2022, 57 less than June. The Average Closing Price was $8,478,817 up +15%, meanwhile, the Median Closing Price was  $5,867,000 down -3.8%. The Negotiability Factor, that is the average discount from the last asking price, was 3.16% practically unchanged from the 3.19% registered ...

Continue Reading →
0

Manhattan real estate rental market update

Posted by:

The net effective median rent (face rent minus landlord concessions) surged +33.4% year over year to $4,100exceeding the $4,000 threshold for the first time and reaching a new high for the seventh consecutive month. While the net effective average rent, up +31.5%, reached $5,051exceeding the $5,000 threshold for the first time ever.

As a result, the market share of landlord concessions fell to 12.8%, down -26.3% from the same period last year, the lowest ...

Continue Reading →
0

Manhattan Luxury Reality Check

Posted by:

Every week we hear of multi-million dollar properties going on the market and sometimes the asking price seems exorbitant, and it really is! With this report we will take a closer look at the numbers of the Manhattan Luxury Real Estate Market, giving you the opportunity to get an idea of what the actual selling price of these luxurious ...

Continue Reading →
0

Manhattan Rental Report: July 2020

Posted by:

What’s going on in the Manhattan rental Market? Let’s take a look at July 2020 data…

With the withdrawal of some of the restrictions due to Covid-19 emergency, new rental activity surged month over month but still well below the year-ago levels.

The Number of New Leases (excluding renewals), went down – ...

Continue Reading →
0