manhattan Archives - Page 8 of 17 - Rava Realty

Manhattan Rental Market Report

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There were 3,159 New Lease Signings in Manhattan in the month of January -49.5% from the same period last year, dipping below the decade average as listing inventory continued to collapse as prices reached record levels.

The Median Rental Price was $3,550, up +18.3% from the previous year, while the Net Effective Median Rent, the face rent, surged year over year by a record +23.3% to $3,467, the second-highest level reached in a January. This price trend indicator continued ...

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Manhattan Luxury Reality Check

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There were 149 closings at $4 million and above in October 2021, 8 less than September. The Average Closing Price was $8,309,226 down -15.9%, meanwhile, the Median Closing Price was $5,885,500 down -2.9%. The Negotiability Factor, that is the average discount from the last asking price, was 6.27% down from -18.91% during the previous month. The pace of the market was a little faster since the Average Days On the Market were 153 compared to 183 for the properties that closed in September 2021.

If you ...

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NYC: more buyers than new listings, but ‘shortages’ are not imminent

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NYC: more buyers than new listings, but ‘shortages’ are not imminent

In 2021, new signed contracts for Manhattan and Brooklyn co-ops, condos, and townhouses outperformed last year, with new listings struggling to keep pace with demand.

As a result bidding wars are increasing, the Covid discount is shrinking, and prices are on the rise in NYC.

In November, for example, new signed contracts for Manhattan co-ops under $500,000 increased by 52.7 percent over November 2020, while new listings for the same price category fell by 15.3 percent, according to the latest edition of the Miller Samuel Report. Manhattan condos priced $500,000 to $999,000 saw new signed contracts increase ...

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The NYC neighborhoods to watch in 2022

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The NYC neighborhoods to watch in 2022

Soho, Dumbo, and Greenwich Village top a list of New York City neighborhoods to watch in 2022, according to a new report from StreetEasy that looked at areas with the biggest surge in interest among buyers, renters, and sellers.

After being hit very hard by the pandemic, Manhattan is now seeing renewed interest as shopping, nightlife, and cultural institutions reopen. There’s lots of housing buzz about Soho in particular, a result of proposals to rezone the area and add more apartments. The neighborhood saw a 48 percent increase in listing searches in 2021 over ...

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Governors Island Will Be Open Year Round

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Governors Island Will Be Open Year Round

A welcome escape from New York City’s typical hustle and bustle will now be open all year — and just a short ferry ride away.

The 172-acre island in New York Harbor opened wide to the public in 2006 after decades as a military installation.

Governors Island starting Nov. 1 will be open from 7 a.m. to 6:15 p.m.

NYC Ferry service will be offered on the South Brooklyn Route during weekdays and non-summer weekends, in addition to the existing Pier 11/Wall Street summer shuttle.

(source: patch.com, picture: patch.com)

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Renters are ‘frantic’ to return to NYC

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Renters are ‘frantic’ to return to NYC

Imagine wanting to ease back into your New York City life after being away for a year. You scan apartment listings and see your old place is available. Sounds like a great coincidence, right?

That’s what happened to many people, like Ranee Soundara, who let her apartment lease lapse during the pandemic, and was hoping to return to the city in October. There was only one problem: The place is “now almost 25 percent more than what I paid last ...

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