Here are all of the articles quoting the BHS 2nd quarter report- handy dandy for you: New York Times: http://www.nytimes.com/2012/07/03/nyregion/manhattan-real-estate-market-holding-steady-in-2012-report-says.html?_r=1 Wall Street Journal: http://online.wsj.com/article/SB10001424052702304299704577502862447440428.html?mod=WSJ_NY_MIDDLESecondStories Bloomberg: http://www.bloomberg.com/news/2012-07-03/manhattan-first-time-apartment-buyers-grab-deals-in-slow-market.html Crain’s: http://www.crainsnewyork.com/article/20120703/REAL_ESTATE/120709985 The Real Deal: http://therealdeal.com/blog/2012/07/03/manhattan-inventory-falls-sharply-in-second-quarter/ Headlines seem to capture the flavor of what’s going on- The Times wants to harp on things holding steady, the Journal does much
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Over the last few weeks since our last market update, I’ve seen continued, consistent, significant action across all of my listings. Sellers are pleased, buyers seem quite happy. Rates are low, somehow getting lower- My economist client wrote me from China overnight, saying: “It seems that premium cities are hot while the rest of the
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Thought I’d write about the scarcity of property at the moment. take the following examples: Buyer with approximately $1mm budget looking for a 2bedroom, 1.5bath apartment on the Upper West Side. Looked for 6 weeks, really nothing over 1000 square feet to show them, ultimately they rented for another year. Buyer with a budget of
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I thought you might enjoy reading an email scam I received. This person has decided that purchasing a coop might be a fun way to escape the “war on terrorism” in Ghana. Enjoy: Hello , Thank you for your prompt response. It seem you are a sincere person. I want to inform you that I
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The Real Deal reported the following, which was bounced around internally. Very much worth sharing with you: In May 2012 the number of Brown Harris Stevens exclusive Manhattan listings increased 7% compared with May 2011. This speaks to the continued great strength of our brand. In May 2012 the total dollar volume of Brown Harris
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I was speaking to a French investor today about some of the different taxes in France, and some of the ways investors handle renters, different ideas floating around, what have you. Apparently there is a proposal to make it illegal to raise the rent when a new tenant is found for an apartment. That sounds
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Well, I’ll comment on my experience over the last few weeks with one-bedrooms. People are out, buyers are buying. Lenders are lending, and coops, on the whole, are approving. While I have seen two board turndowns in the last 4 months, both had their reasons. 1st turndown- coop board decided that they didn’t want a
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I had the pleasure of visiting Cobble Hill Towers, built in 1879- built originally to house the workers at the port of Brooklyn, this is a gorgeous red and iron facade. Really a striking set of buildings that goes along Hicks, which is along the Brooklyn Queens Expressway. Of course, back in 1879, you’ll notice
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The mortgage rates are again at super duper lows. This is surely driving refinances. As the market inventory sags, it appears that low rates will be the second big driver of price increases. Yet with no real indication of rate increases beyond normal fluctuations, and various indications that the pain in Europe will cross the
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Over the last year or so, the top end of the market has outperformed the rest of the lower segments. This seems to be continuing to a degree, but the rest of the market is catching up, performing admirably as well. If Marie Antoinette said “Let Them Eat Cake”- and we take that attitude as
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