Any Offer Will Be Responded To
A report from The Real Deal on New York. "Penthouse listings — despite their catchet — aren’t immune to the new development glut. The new batch is adding to those that have been lingering — and are now asking lower…
Location, Location, Location Has Been Replaced With Price, Price, Price
A report from Cory Doctorow on New York. "New York real estate is valuable because of the people who want to live there because of the vibrancy of the city -- but as the city is choked off from real…
There Was Shock And Horror, But No Longer
A report from the Wall Street Journal on New York. "It is deal time for buyers looking to purchase an apartment in one of New York’s new condominium buildings, brokers said. As sales of new apartments have stalled this year,…
The Meaning Of Hot Has Changed
A report from Think Realty. "A new report from Warburg Realty indicates the New York City housing market has moved—'beyond any doubt'—into a buyer’s market. Warburg’sCEO Frederick Peters cited offers as low as 25 percent below asking prices as evidence.…
More Supply Puts Sellers In A Weakened Bargaining Position
A report from the Wall Street Journal on New York. "A pair of developers is planning to auction off units in their luxury Manhattan condominium project. The units will be among the highest priced condos ever to be auctioned by…
Now The Market Has Been Flipped On Its Head
A report from Mansion Global on New York. "The impact of the dearth of new development transactions was felt most in the Financial District and Battery Park City, which saw sales plummet 41% compared to the same time last year,…
Offers 20 Percent And 25 Percent Below Asking Began To Flow In
A report from CNBC on New York. "New York City's pricey real estate has become a 'buyers market,' new data suggests, characterized by lowball offers and a rise in the number of properties staying on the market for longer. The…
A Market Saturated With Supply Is About To Get Even More Saturated
A report from Real Estate Weekly on New York. "As the super luxury market continues to stagnate, developers are looking to shift towards smaller-scale projects and cheaper areas. While superluxury was a major discussion point several years ago, The Marketing…
Sales Have Stalled Due To An Oversaturation Of New Construction
A report from Barron's on Massachusetts. "Since the Great Recession, Boston home values have risen steadily and are at an 'all-time high,' says Debbie Adamidis, an investment property specialist at Jacob Realty. Sales of high-end properties have somewhat stalled due…
But I’m Different
A report from Bloomberg on New York. "The developer Cary Tamarkin bought at the top of the market. His $50 million purchase in 2014 wasn’t a luxury apartment though; it was a former Catholic school at 555 West End Avenue,…