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Statistics |
| Unique Visitors: 8 |
| Total Unique Visitors: 101630 |
| Visitors Out: 2455 |
| Total Visitors Out: 2465 |
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| Apple Taking Another Bite Of NYC: Looking For Office Space |
| 2008-05-10 16:15:00 |
We hear Apple is looking for 10,000 to 15,000 square feet of Manhattan real estate -- for office space, not another retail outlet. And they're not looking to go cheap: The company is looking in the heart of midtown, near their flagship 5th Avenue store at the GM building.Unlike other Apple NYC real estate stories we've seen in the past, we're pretty confident about this one: It's from a plugged-in real estate source, who tells us Apple (AAPL) is about to submit offers. What we can't tell you: What Apple plans to do with the space once it gets it.
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| NYC real estate revenue down |
| 2008-05-03 02:45:00 |
NEW YORK (Reuters) - Revenues from two New York City Estate">real estate taxes fell sharply in the first nine months of the budget year, the city comptroller said on Tuesday, offering fresh evidence of the impact of Wall Street's troubles on the local economy.But the city's total tax collections still are running about $800 million more than Mayor Michael Bloomberg projected in January, according to a source familiar with the data.This surplus makes it tougher for the independent mayor to clamp spending.
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| Is Manhattan Immune from the Real Estate Bust? |
| 2008-04-29 02:33:00 |
In the first quarter of this year, the median price for a Manhattan home rocketed up 18%, to $872,000, compared with the same period last year, according to an Apr. 17 report by ResidentialNYC.com, a Web portal operated by the Estate">Real Estate Board of New York. The median price for all of New York City, which includes much weaker middle-class neighborhoods in the Bronx, Brooklyn, Queens, and Staten Island, rose 4% in the first quarter, to $535,000, the real estate industry group reported."The numbers continue to amaze me," said Steven Spinola, president of the Real Estate Board. "What's driving the prices up is the closing of high-end condos."
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| Real estate slump sets Brooklyn back |
| 2008-04-24 17:55:00 |
A rise in foreclosures and gloom about the economy could stop up-and-coming Brooklyn neighborhoods in their tracks. As the Estate">real estate market cools, fears grow that professionals will lose interest in such areas as Bedford-Stuyvesant, East New York and Brownsville.“When there’s a pullback in the marketplace, the ‘newer’ neighborhoods are often harder hit,” said Frank Percesepe, Brooklyn VP for Corcoran.These neighborhoods are among the top 10 Brooklyn areas with foreclosures, according to a 2006 list from NYU’s Furman Center for Real Estate and Urban Policy.
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| Property prices in Manhattan have soared 41% |
| 2008-04-21 04:00:00 |
Despite belt-tightening and record losses at Wall Street banks, demand for luxury dwellings was strong, said the association of New York estate agents.On average a Manhattan home costs $1.6m (£0.8m), up from $1.1m a year ago.However in other parts of New York City property prices are on the slide, with Queens and Staten Island down 5% and the Bronx slipping 1%.
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| New York real estate: Financial District |
| 2008-04-17 05:09:00 |
Manhattan Estate">real estate - Since last year, three new rental buildings and various condominiums projects have also started leasing and selling apartments so that number is probably higher now. The anticipated population is 51,930 by 2009."When I first started out as an agent 3 ½ years ago I couldn't put 'Financial District' on listings -- I had to put 'downtown,'" said Sang Oh, director of sales and marketing for Platinum Properties on Wall Street, "but now people want to live here."Oh is himself one of those people, having relocated to the Financial District a year ago. "Seeing the neighborhood progress made me want to move downtown," said Oh, "And now I just get up and walk across the street to work. I spend all day down here."
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| Manhattan's Real Estate: An Island Unto Itself? |
| 2008-04-14 09:52:00 |
According to the latest quarterly report from Halstead Property, the first quarter of 2008 saw property values continue their outlandish surge on the isle of Manhattan. The report touts "new records" in median sale prices and average apartment sale prices.Yes, $1.69 million is the new average sale price of an apartment, but remember, that's "average" and that number was pushed up artificially by two high-end properties: 15 Central Park West and the Plaza.Without those two, the average sale price would be a mere $1.4 million. Ah well. What this says, though, is that there is far more activity on the high end of the market, because the median sale price is $855,000 (which is still up 13 percent from last year).
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| Ashkenazy, Carlyle Take 650 Madison for $680M |
| 2008-04-10 16:10:00 |
Ashkenazy Acquisition Corp., in a joint venture with private equity firm The Carlyle Group, has completed its $680 million purchase of 650 Madison Ave., a 27-story office and retail tower in midtown Manhattan.Hiro Real Estate Co. of New York sold the 600,000-square-foot building for more than $1,130 per square foot.The property is anchored by Polo Ralph Lauren's corporate headquarters and includes 90,000 square feet of retail space occupied by the New York flagship stores of furniture chain Crate and Barrel and designer accessories label Tod's.
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| Manhattan real estate hits a record high |
| 2008-04-04 16:35:00 |
A lot of Americans are watching their homes decline in value, and many families are finding themselves upside down on their mortgages -- owing more than the home is worth.But don't worry: if you were wealthy enough to afford New York City's sky-high Estate">real estate in the first place, you're doing quite well. New York apartments hit record highs in the first quarter -- an average of between $1.63 million and $1.72 million, depending on which data source you believe. That's a year-over-year price increase of more than 19%.Manhattan real estate rose 13% to between $855,000 and $945,276, depending on which source you believe. But some experts say that that number is inflated by a disproportionate number of high-end properties and that prices on lower-end units are flat to negative.
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| Manhattan Home Market Slows as Wall Street Cuts Jobs |
| 2008-04-01 15:12:00 |
New York City's residential real estate market is showing the first signs of fallout as U.S. banks and securities firms cut the most jobs in seven years.Manhattan apartment sales fell in January and February from a year earlier and new properties came to the market at the fastest pace since at least 2000, according to data from New York-based real estate appraiser Miller Samuel Inc. Transactions slid 6.4 percent to 3,250, while the number of condominiums, co- operatives and townhouses for sale at the end of last month climbed to 6,225, 15 percent more than at the start of the year.
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| Bear Stearns Bailout "Falls" On Manhattan Real Estate Market |
| 2008-03-26 05:59:00 |
You have to ask the question: can the up-‘til-now untouchable Manhattan Estate">real estate market survive under the weight of Wall Street’s banking implosion? Bear Stearns folks suddenly seeing their stock-based bonuses disintegrate into nothing and credit and capital fleeing the building at an alarming rate, are those priciest of pricey pads going to be able to hold their value?As usual, the answer depends on location and price point. Remember one thing: there is limited supply in Manhattan and the city’s troubles of previous real estate downturns (high crime, filth and economic issues in the city’s own coffers) don’t exist today. Demand is high and that is the core of the Big Apple’s ability to survive this.
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| A need for a real estate authors from Manhattan |
| 2008-03-23 18:33:00 |
This is Tam Tree ,I hope you like the NY CIty Estate">real estate news blog.I need real estate authors from Manhattan to help me coverage the areas of Brooklyn and the Soho.Please send email if you like to participated in this effort. Thanks !tamtree@gmail.com
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| Manhattan apartment costs are down |
| 2008-03-22 10:27:00 |
A report released Wednesday by the Real Estate Group found the average price of Manhattan one- and two-bedroom apartments decreased last month - and finding a new home in the next six weeks could mean less rent."If you want to save money and plan on moving soon, move now ... If you can move before May, you're almost sure to find a considerably better deal," the group said in its 27-page analysis of the market.The trend dates to last year, the report found, with the cost of living in a doorman building down across the board compared with March 2007: from $2,639 to $2,586 for studios, from $3,661 to $3,578 for a one-bedroom, from $5,555 to $5,265 for a two-bedroom.
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| The average price of one- and two-bedroom rental apartments in Manhattan went down over the last month |
| 2008-03-19 14:50:00 |
The average rent for a one-bedroom in a doorman building went from $3,661 in March 2007 to $3,578 in March 2008. Two-bedrooms in doorman buildings went from $5,555 to $5,265.Real Estate Group Chief Operating Officer Daniel Baum tells the Associated Press that anticipated job cuts and the sagging dollar “have planted seeds of doubt in the minds” of many New Yorkers. He says they are responding by sacrificing space and service for cheaper apartments. By “cheaper,” we assume he means less expensive: The average price of a one-bedroom in a doorman
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| New York's Manhattan district and Monaco have continued to boom |
| 2008-03-16 06:58:00 |
The picture mirrors that of London, where average prices have been slowing in 2008, but the super-prime market has continued to see strong growth.The fact London has enjoyed a boom in top end property in recent years has been well reported. Since September the prime market and the mainstream market have slowed, activity and price growth will slow further into 2008, but at the top end of the market there has been no such slowdown. In New York developers are in a race to improve the luxury credentials of their property in order to secure a sale.
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| Vanick Properties Buys Broadway Office Bldg. |
| 2008-03-13 13:57:00 |
Vanick Properties Inc. acquired the 408-410 Broadway office building in lower Manhattan from 408 Broadway LLC for $29 million, or about $386 per square foot.The five-story, 75,100-square-foot property was built in 1915 and renovated in 2008. It sits between Canal and Walker streets in the City Hall submarket.The Cushman & Wakefield team of Charles Kingsley, Jonathan Caplan and Yoav Oelsner represented both parties in the deal.
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| Foreign companies buy into New York residential market for employees |
| 2008-03-11 11:41:00 |
For foreign companies in New York, it is a huge cost of doing business: Employees move to the city or come here on assignment, and the company provides temporary corporate housing whose cost routinely exceeds $4,000 a month.But more and more foreign companies are buying high-end Manhattan condominium apartments and taking on the role of landlord themselves, brokers say. The companies, many from Europe and Asia, say the strategy makes perfect sense because of the booming Manhattan real estate market and the favorable exchange rate.
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| The Manhattan real estate market is bucking the national trend in home prices |
| 2008-03-08 03:53:00 |
In the fourth quarter of 2007, the latest data available, the median sale price for Manhattan coops and condos increased 6.4% compared with that period the year earlier, according to Mr. Miller. The luxury apartments that make up the top 10% of the market, or those priced at more than $2.8 million, increased 28.4% over the same period. Median prices are more accurate indicators than average prices, as they exclude outlier data, such as the ultra-luxury apartments at 15 Central Park West and the Plaza, which skew average prices upward.In other New York economic news, the office market slowed in January, with the vacancy rate increasing slightly, to 7.6%, while asking rates were similar t
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| 109th Street Buildings For Sale |
| 2008-03-04 04:57:00 |
N.Y Real Estate - In the midst of a citywide housing crisis, a notorious Harlem landlord has put 22 buildings on W. 109th Street up for sale.The buildings, which the Pinnacle Group acquired in September 2005, are located between Columbus Ave. and Broadway and include 384 residential units. According to the listing on real estate information provider Eastern Consolidate’s Web site, Pinnacle is seeking a single buyer for the group of buildings, and “only offers for the entire portfolio are being considered at this time.”The Pinnacle Group, which owns a reported 21,000 apartments throughout the city, has been referred to frequently as a contributor to gentrification in Upper Manhattan.
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| New York real estate: Chinatown |
| 2008-03-01 03:23:00 |
Steeped in tradition, Chinatown is one of the city's few neighborhoods to fend off gentrification, keeping its cultural fabric intact through a constant infusion of immigrants who keep the neighborhood true to its roots."People want to buy in Chinatown, but because there are no high-rise buildings, there aren't a lot of affordable apartments on the market," says Sherri Shang of Century 21 NY Metro, who has a large Chinese clientele. "A lot of the available buildings don't have amenities--just the apartment with the key
They don't want luxury--they just want to be surrounded by cultural things and the way of life."
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| The New York Times Announces Online Luxury Real Estate Ad Program |
| 2008-02-28 04:44:00 |
The Great Homes site has a searchable database of more than 250,000 Estate">real estate listings located in desirable second-home destinations such as Manhattan, Napa Valley, the Hamptons, Cape Cod, Martha's Vineyard, Miami and Florida's Gulf Coast, as well as select locations in Europe. The site features extensive luxury and second-home listings, Web-exclusive content with original articles written for the site, destination and lifestyle guides, videos, slide shows and interactive maps. The listings environment, powered by Gabriels, accommodates a variety of searches and has been recognized by the NAA and Inman as the leading media luxury real estate site.
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| Manhattan real estate firm buys second Albany office building |
| 2008-02-25 02:02:00 |
The Heights Estate">Real Estate Co. of Manhattan has bought another office tower in downtown Albany, N.Y., this one a 10-story building at 100 State St. that cost $3.5 million.The deal closed today. The seller was Galesi Management Corp. in Rotterdam.The property is located between the headquarters of the state Comptroller's Office and the former National Savings Bank building at 90 State St. A FedEx Kinko's store is on the ground level.
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| St. Albans, Queens |
| 2008-02-22 14:52:00 |
St. Albans is a quiet middle-class neighborhood in eastern Queens, but just beneath lies a level of culture, politics and heritage that not all New York neighborhoods can boast.Once home to some of the greats of jazz and sports – Count Basie, Jackie Robinson, Billie Holiday, John Coltrane and Ella Fitzgerald to name a few – St. Albans is now home to modest working-class families, mostly African Americans and Caribbean Americans. But some residents believe the neighborhood is coming back.
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| New York City’s uncertain real estate market |
| 2008-02-17 16:29:00 |
Jonathan Miller, the executive vice president and director of research at Radar Logic, a Estate">real estate research company, said that such apartments make up more than half of the Manhattan sales market. In the fourth quarter of 2007, 55 percent of the 2,518 apartments sold in Manhattan were studios and one-bedrooms.That, in turn, is good news for many sellers, who are happy to find purchasers not obliged to sell their own home before buying a new one.Conversely, first-time buyers who run into snags and delay closings can hold up the sellers. “It plays a very important role in the health of the real estate market<
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| Manhattan real estate lawyer pleads guilty in $2.1 million theft |
| 2008-02-14 17:37:00 |
Manhattan prosecutors say a Estate">real estate attorney has pleaded guilty to stealing $2.1 million from clients to pay his personal expenses and run his law office.Sixty-six-year-old Mount Kisco resident Ira Berman pleaded guilty Thursday to grand larceny in exchange for a sentence of three to nine years in prison. He also agreed to sign a document acknowledging he still owes victims the money.Prosecutors say the funds Berman stole were real estate down payments deposited into the escrow account of his Manhattan firm.
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| Brooklyn Real Estate Trends Hit Spotlight |
| 2008-02-12 03:07:00 |
“This just shows that we don’t need to schlep to Midtown Manhattan to talk about Estate">real estate,†said David Kramer, principal of Hudson Cos. Inc. and member of the roundtable’s Steering Committee at the event. “I think today highlighted all the things going on in Brooklyn: the Navy Yard, new condos in Prospect Heights and exciting office renovations on Court Street.â€Gregg Winter, president of Winter and Co., said that “the market isn’t dead. I was looking for much worse numbers.â€
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| Manhattan Real Estate Finally Turning |
| 2008-02-09 09:27:00 |
NEW YORK — The Estate">Real Estate Group, a brokerage firm, found in its most recent monthly report that Manhattan's real estate market, so far impervious to the subprime mortgage crisis, may finally be turning—a potential boon for renters and buyers, but not so good news for property owners."While the market often sees a January rebound from December's historically weaker prices, this month, average citywide rents continued to cool across all apartment sizes and service levels," reads a letter from Daniel Baum, C.O.O. of The Real Estate Group.
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| South Korean investors to return to the Big Apple |
| 2008-02-05 17:39:00 |
New York City, a super-real estate market that seemed immune to any outside economic threats, has lately been spotted with more vulnerability. But this is actually signaling South Korean investors to return to the Big Apple.``We're seeing a comeback of investors who want in at Manhattan, once again,'' said Kim Joon-sung, a Seoul-based senior consultant at Map Realty, a real estate consultancy specializing in overseas investment.
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| Harry Macklowe has reached control of seven Manhattan office buildings |
| 2008-02-02 17:26:00 |
Coupled with a deal that has put his ownership of the trophy General Motors Building on Fifth Avenue at risk, Mr. Macklowe's capitulation is one of the most dramatic signs so far of how the credit problems caused by the subprime crisis in residential real estate have spilled over into the world of office buildings, stores, apartment buildings and other commercial property. Other investors who acquired commercial real estate at the top of the market are facing similar problems because values have fallen and they can't refinance the debt they placed on the buildings in rosier times.
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| Major League Baseball plans to build a home on 125th Street |
| 2008-01-31 05:04:00 |
The planned building, to be developed by Vornado Realty Trust, would rise 21 stories in an interlocking set of luminescent glass cubes at 125th Street and Park Avenue and would be the first prime office tower to be built in Harlem in more than three decades.Vornado is also negotiating with Inner City Broadcasting, the second-largest radio broadcasting company aimed at black listeners, to move to the planned tower from its Midtown offices, according to real estate executives and local officials.
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| How does Long Island real estate compare? |
| 2008-01-28 00:57:00 |
Island">Long Island is still one of the wealthy markets so the median prices over here are always going to be better than what it would be than in Detroit ... The seepage is coming more from Manhattan. Their prices are going up. New York City is still one of the most stable places around, only because of the amount of immigration and the amount of apartments that exist in New York City, Brooklyn, Queens, where people could become homeowners, if we can show them that they have the ability.
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| Downtown Brooklyn 'Renaissance' |
| 2008-01-24 02:03:00 |
Amid the low-end retail outlets, dentists' offices, and courthouses that dot the neighborhood, 11 new condominiums and rental buildings — a total of 1,480 units — are welcoming their first residents.The newcomers are a mix of Wall Street bankers attracted by the short commute to Lower Manhattan, families trading in their Brooklyn brownstones for condominiums, and 30-somethings fleeing high Manhattan prices, brokers and new residents said in interviews.
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| Rise in NYC real estate value smallest since 1998 |
| 2008-01-20 16:11:00 |
New York City property values will rise 1.44 percent in the new fiscal year, the smallest increase since 1998 when the market climbed a mere 1.35 percent, city finance officials said on Tuesday.The value of commercial buildings, hotels, apartments and homes will climb to $807 billion from $796 billion last June, the city's Department of Finance added in a statement.New York City's Estate">real estate market has been one of the nation's strongest; the current value is more than double the 1998 total of just under $300 billion.
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| Housing Slump Hits Long Island as Home Sales Drop |
| 2008-01-17 02:00:00 |
Jan. 16 (Bloomberg) -- Long Island and Queens home sales dropped 25 percent in the fourth quarter and the inventory of properties surged as the housing decline hit residential areas east of Manhattan, Miller Samuel Real Estate Appraisers said.Sales fell to 6,359 from a year earlier. The median price declined 3.2 percent to $425,000, New York-based Miller Samuel said in a report issued today. A total of 38,769 homes were on the market, 41 percent more than a year ago. The survey excludes the Hamptons.
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| Sotheby's to Buy NYC Headquarters for $370 Million |
| 2008-01-15 01:16:00 |
Jan. 14 (Bloomberg) -- Sotheby's, the auction house that sold about $6 billion of art last year, agreed to buy its New York City headquarters for $370 million from RFR Holding Corp.RFR, the New York real estate company controlled by developer Aby Rosen, will receive certain terms on the sale of art works through Sotheby's as part of the deal, Sotheby's said in a regulatory filing today. Sotheby's paid about $750 a square foot.
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| What’s Next for New York City Real Estate? |
| 2008-01-12 17:32:00 |
No one is predicting that 2008 will be a repeat of 2007. The sprawling pieds-à-terre may still sell for millions at the Plaza and 15 Central Park West, but in general, economists are predicting that prices will drop in some segments of the market and in some neighborhoods around the city.“New York has had a very good run, and there are still a lot of people sitting around with cash,” said Christopher Mayer, the Paul Milstein professor of Estate">real estate at Columbia Business School. “But that doesn’t last forever.”
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| Why the Dollar Matters in Real Estate Stories |
| 2008-01-07 09:38:00 |
This week, these fine folk set out to solve a lingering mystery -- at least for anyone almost willfully blind to the effects of a weak dollar in an area that's attractive to foreign buyers. Here is the headline: Apartment Prices in Manhattan Defy National Estate">Real Estate Slide.The article led off in deep wonderment about the half-price sale that is the Manhattan real estate market for many foreign buyers, thanks to that weak dollar:
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| NYC's Strong Real Estate Market Makes Leaving it Easier |
| 2008-01-01 01:23:00 |
hanks to the soft Estate">real estate market everywhere except our fair city, many New York City residents have been able to pick up and move out of the Big Apple for less expensive and literally greener pastures. The NY Times had an article yesterday about people who cash out of their NYC apartments and "get much more for their money outside the city."The first example is a couple who sold their Upper West Side two-bedroom apartment for $899,000 within two hours of the first open house. They then bought a $690,000 three-bedroom home in Norwalk, Connecticut (no mortgage). An Upper East Side couple, expecting their second child, had been looking for a 1,400 square foot apartment in Manhattan b
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| Downtown will remain hot real estate in 2008 |
| 2007-12-28 14:13:00 |
The city’s commercial Estate">real estate market was fairly resilient in 2007, considering rising rents, dwindling vacancy rates and an uncertain economy. Real estate experts expect that same durability to continue into the New Year, though at a slightly tempered pace.“In the last few years, we’ve seen pricing spike dramatically, but the ratcheting up of rental rates is definitely going to flatten out as demand slackens somewhat,” says Robert Freedman, president and chief executive of GVA Williams. “We are going from an era of irrational exuberance to a rational but still fundamentally strong market.”
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| European buyers make December a busy month for Manhattan real estate |
| 2007-12-22 13:48:00 |
NEW YORK: The sidewalks of Manhattan are crammed this month with European tourists on shopping sprees, picking up gifts that cost far less in the United States than they do at home because of the weak dollar. But they are not just crowding into boutiques and department stores. Some of them are also shopping for condos."There's bargains to be had," said Kerry Miller, who with her husband, Marty, was working through her Christmas gift list by buying sweaters at Abercrombie & Fitch and makeup at MAC, as well as touring 29 apartments.
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