Most if not all of us have heard the phrase that ‘the road to hell is paved with good intentions’! Given that, is it also a sad truth that many government policies once implemented, have unintended consequences the majority of which seem to be more painful than helpful for the masses? For the sake of this argument and […]
Summary: NYC Ultra-Luxury Residential Real Estate Market Targeted At The Superrich Getting Soft? Has the market reached a tipping point or is this merely the pause that refreshes? Is the sky staying right where it’s supposed to be but the prices for apartments located there certainly seem, shall we say, soft? In-other-words, in terms of the ultra-expensive listings […]
The links below are to articles at news sources that include traditional as well as new media covering issues ranging from China to real estate to a college education! In reality, however, in one way or another all of these issues are inextricably intertwined. Disappointing Earnings From A High-end Real Estate Focused Retailer! Is This Anecdotal Evidence Of […]
As was the case in 2014, 2015 witnessed a great many extremely large residential real estate transactions closing in NYC! The entirety of the Top 20 sales occurred in the borough of Manhattan! Of these twenty mega-deals, seven of them occurred at the ultra-luxury building One57 that has been dubbed by some ‘The Billionaire Building’. One57 is located at 157 […]
Summary: Has the bubble in New York City real estate been fully reflated and is about to burst? The highest rental apartment vacancy rate in 9-years coupled with a construction boom and concessions being offered to attract tenants suggests that the answer may be yes! ‘Manhattan Rental Apartment Vacancies Hit A 9-Year High! (Video)’ This sparks the question […]
With debate constantly swirling about the condition of the Manhattan, New York residential real estate market, here are some facts! From April 2015 to May 2015… FOR COOPS Average sales price increased to $1,328,430 from $1,306,695 Median sales price increased to $900,000 from $732,500 Discount from Original Asking Price decreased to 4.0% from 4.2% Discount […]
And with Hudson River views to boot! Only in New York? Only in New York! Of course if you head about 20 blocks north and over to the East Side of Manhattan another PH with a private pool is asking an even more astounding $100MM! The downtown apartment that’s offering ‘relative value’ to its ultimate buyer […]
Follow @Hallmark Abstract Service Courtesy of Douglas Elliman’s EllimanReport, the chart below presents Q1-2014 metrics for residential co-op and condo sales in the New York City borough of Manhattan! Performance, when compared to Q1-2013, is extremely impressive and in fact so impressive that one might be moved to ask whether these gains are sustainable going […]
Follow @Hallmark Abstract Service One week ago the Hallmark Abstract Service blog explored New York City rents and just how incredibly steep they can be if the desire is to live in the lap of luxury (i.e doorman building)! And for anyone looking to buy an apartment or brownstone in Manhattan or Brooklyn at some […]
Follow @Hallmark Abstract Service For anyone unfamiliar with the New York City housing market, residents there tend to have three basic options particularly in Manhattan: Rent or buy a Co-Op or a Condo! Yesterday in an article here we examined the median rents that are being charged in the various neighborhoods of New York City […]
