Issue 76- ARE CO-OPS OBSOLETE?
With the explosion in new development, the media loves to beat up New York City co-ops. But lately, they’ve been having more fun than usual. With articles like Forbes’s “Why Co-Ops May be a Thing of the Past” and The Real Deal’s “Fading beauty? In a sea of new dev, UES co-ops have fewer takers,” the old stalwarts of […]
Issue 75 – 2018 Year In Review
Let’s face it, 2018 has not been an easy year. With the seesawing stock market, the volatility of the political landscape, the Dow’s worst December performance since 1931, the S&P’s worst year since 2008, the new tax law that caps state and local deductions, rising interest rates and a decline in foreign investments, the New […]
Issue 74 – Recent Tax Reform and How it Might Affect the Real Estate Market in NYC
Love it or hate it, recent tax reform is one of the more profound political initiatives in quite some time. As such, I wanted to provide a few thoughts on how this change might affect the real estate market here in the City. Before going any further, I have to provide a little disclaimer: I […]
Issue 73 – As New York’s Real Estate Landscape Continues to Change, Knowing When or Where to Buy is Up for Debate
You only have to take a look at the recent history of New York City real estate to know that it is constantly in flux. That has never been more true than today. While the outer boroughs appear to be sizzling, with neighborhoods transforming in front of our eyes, parts of Manhattan seem to be […]
Issue 72 – The New York City Real Estate Market’s Psychological Adjustment
While we certainly are seeing some encouraging signs of recovery in the luxury sector here in the City, many remain curious what’s driving the moderation we’ve seen over the last several quarters. In fact, some probably are wondering what caused the slowdown in the first place. Sure, the increase in supply driven by rampant new […]
Issue 71 – Identifying the (potential) “Trump Effect” on NYC Real Estate
Happy New Year, and I wish everyone the best for 2017! 2016 was a year filled with challenges in the New York City real estate market, as prices moderated for the first time in over five years. Tremendous growth in the luxury new development sector resulted in a glut in unsold supply, and equity market […]
Issue 70 – Where do we go from here?
In New York City real estate, it should come as no surprise that the post Labor Day period is one of the busiest. Folks are back from summer vacations, kids are back in school, and buyers and sellers are focused on getting deals done before activity slows again during the heart of the holiday season […]
Issue 69 – Transit Oriented Development
These days, it’s difficult to avoid reading commentary on the pricing pressures facing NYC real estate right now. While I think some of this banter is a bit overdone and many of the naysayers may be late to the party at this point, I find it interesting that sometimes pundits immediately default to the “usual […]
Issue 68 – What’s Up With The ‘Luxury Market Slowdown’?
With continued speculation of a luxury market slowdown causing a stir in NYC, I thought I’d offer my perspective on the topic. It is important to start with an understanding that not all “luxury product” is created equal, and real estate in many ways is a “local market.” While some may assume the latter means […]
Issue 67 – Pending Legislation in NYC
What are the new reporting requirements affecting transactions in the high end Manhattan real estate market, and more importantly, what impact might they have on prices, process, and demand? If you work in the real estate industry long enough, one thing you can count on is change. Mortgage rates rise and fall, supply-demand characteristics are […]