Issue 51 – In With The New
Even though it’s early in the game, 2014 has already distinguished itself from recent years. Looking over yearly real estate market forecasts since 2007, which range from anticipatory and nervous to downright anxiety-ridden, there is now a palpable sense of peace, stabilization and equilibrium unseen for a good stretch of time. With the first minutes […]
Issue 50 – The Game Changer
Before the Holidays even accelerate to full, frenetic speed, this is the time of year when developers, agents, pundits, economists and anyone with an opinion (that is to say, all New Yorkers in general) are quick to wax prophetic about the year ahead for the real estate industry. Since we all know the city and […]
Issue 49 – Buy Every Means Necessary
Proof of just how dynamic the Manhattan real estate market truly is came this week in a flurry of breaking news. Third Quarter sale prices reached their highest level since 2007, apartments are now selling at an average of only 88 days on the market, and rents continue to climb (with the gap between Brooklyn […]
Issue 48 – Golden Rules
Regardless of whether or not you have children, the one factor that impacts real estate decisions here in the city most dramatically is that of school zoning. If you’re looking to rent, sell or buy, if you have kids now or plan to in the near future, and if you want to ensure your property […]
Issue 47- How the West Was Won
Few neighborhoods reflect the overwhelming demand for apartments quite like the Upper West Side. While 2013 is only half-way over, the intensifying struggle for inventory that will most likely define this year’s sales market and impact the next 18 months is best understood by looking up and west. Thanks to the prolonged hangover from the […]
Issue 46 – TriBeCa’s Heat Wave
Just a few weeks ago, after the TriBeCa Film Festival wrapped and work resumed on the long-stalled condo development at 71 Laight Street, the climate around the “Triangle Below Canal Street” was already the scene of Manhattan’s most heated buying frenzy. With an average listing price of $5,779, 821 and a median sale price of […]
Issue 44 – The Seller’s Boom
It is common for sellers who love their property to feel that it should sell for better than market price! That tendency is exacerbated in a strong market. Experience shows that overpricing in a strong market can really hurt the ultimate sales price as people brand the property early on as “pricey” and the seller […]
Issue 43, March 2013: Building Boom
With so much talk about the lack of sales and rental inventory in Manhattan real estate across all price points, there is a much bigger question being overlooked: namely, how will the city deal with an extra million residents expected to make their home here by the year 2025? When New York celebrates its 400th […]
Issue 2, May 2006: When Selling in a Buyer’s Market, Be Guided by “Fran’s Law”
Fran’s Law Flexible – Don’t lock yourself into one price; be ready to adjust to the market. Reasonable – Have realistic expectations, and have a price range. Accountable – Communicate your requirements upfront. Negotiable – Be prepared to negotiate price and terms (i.e. closing date, contingencies). Daily, I continue to see conflicting reports about trends […]
Issue 3, July 2006: It Is a Good Time to Buy
I am constantly asked by those who are concerned about the short-term outlook whether this is a good time to purchase an apartment. This question overlooks the long-term value of real estate. Buyers should look at an apartment as a place to live as well as an investment. There are too many unknowns that can […]