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