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Miller Samuel: Shadow Inventory Lurks

Quoted by Crain's New York, Jonathan Miller, chief executive of appraisal firm Miller Samuel Inc, says that there are a lot more condo inventory than it appears.

Continue reading: Miller Samuel: Shadow Inventory Lurks »


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Toll Brothers: Disappointing Quarterly Results

In a recent conference call with investors, Toll Brothers CEO shared a number of negative indicators from the most recent quarter...

Continue reading: Toll Brothers: Disappointing Quarterly Results »


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Average Manhattan Apartment Now Over $1.3 million

Posted 05/Jul/2007 00:08:00 by Gromco in Trends in the NYC Real Estate Market, Manhattan, Brooklyn

Manhattan apartment sale prices reach new heights in Q2-2007: the average is now $1.3 million and the median - $895,000...

Continue reading: Average Manhattan Apartment Now Over $1.3 million »


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NYC Luxury Market Third Most Expensive

Posted 09/May/2007 21:25:00 by Gromco in Trends in the NYC Real Estate Market

Despite recent record-breaking deals and contrary to what many New Yorkers probably think, New York City's luxury real estate is not the most expensive on the planet. It does, however, come in third place (after London and Monaco)...

Continue reading: NYC Luxury Market Third Most Expensive »


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Ultra-low Vacancy Rates in Manhattan in October

Posted 15/Nov/2006 10:35:00 by Gromco in Trends in the NYC Real Estate Market, Williamsburg, Murray Hill, SoHo, TriBeCa

A few months ago we mentioned a Citi Habitats report stating a slight increase in vacancy rates. Well, in October the situation seems to have reversed. Ultra-low vacancy rates and high rents are the norm now...

Continue reading: Ultra-low Vacancy Rates in Manhattan in October »


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Manhattan Vacancy Rate Up Slightly

Citing a report by Citi Habitat brokers, "The Real Deal" reported that the vacancy rate on the island went up slightly from 0.43 percent in May to 0.56 percent in June.

Continue reading: Manhattan Vacancy Rate Up Slightly »


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Crime Falls in 2005

Posted 02/Jan/2006 by Gromco in Trends in the NYC Real Estate Market

NY Times says all signs point to crime [falling] across the city in 2005 for the 17th consecutive year. As of Dec 30, 2005 there had been 537 killings in the city (down from 566 a year earlier and way down from the peak of 2,245 in 1990). Other felonies, such as robbery, rape, burglary, etc are also down.


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Craigslist to Charge NYC Brokers for Apartment Ads

Posted 03/Dec/2005 by Gromco in Trends in the NYC Real Estate Market

According to this Fortune [article], Craigslist is about to start charging NYC brokers a "nominal" listing fee for posting apartment ads. The reason given was typical Craigslist ("we're doing it for you, people"):

... after a year of online debate, it is set to charge New York real estate brokers a modest amount, no more than $10, to list their properties. (Imposing even a nominal listings fee tends to reduce clutter and instill discipline.)
Discipline, sure! Let's see what happens to the no-fee section - perhaps it, too will need an emergency dose of discipline right away.


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Manhattan's Green Buildings in the News

The Solaire and The Helena buildings are making news across the country...

Continue reading: Manhattan's Green Buildings in the News »



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