It should be obvious that properties which are in great condition sell for more than those in need of repair, but by how much of a margin? Is it cheaper to buy an investment property and do the work yourself...
In the late 1990s,West Chelseaproperties values were less than a tenth of what they are today. The game changer for the area was the arrival of the art galleries which were pushed out ofSoHo. Following them were trendy restaurants, luxury reside...
The Interim Multiple Dwelling program has been in existence since 1982. The program was created to protect those living in commercial and manufacturing buildings, and to require owners to legalize the buildings for residential use. What was mean...
1) The NYC property sales approach normalized 2006 levels with $25B in anticipated sales, which is three times 2009, but still off 2007's peak of $62B. 3Q11 proved to be the busiest quarter forManhattansales since 1Q08 with a total of 190 proper...
At the start of the year, my firm announced the launch of our new retail leasing division. Executive Vice President of Retail Leasing, Ben Fox led the charge. It has since grown to include nine agents and continues to grow. Currently, the division...
A few weeks ago, I gave thanks for the NYC condo market which has helped fuel the recovery of the investment sales market. Equal or more credit must be given to the availability of attractive financing.
It appears that NYC property sales will...
Although NYC's waterfront properties might not look out onto crystal blue waters, we've come a long way. Bloomberg's administration has developed major initiatives to upgrade our coastline.
The administration's Waterfront Action Agenda aims t...
I am amazed to see that the most expensive Clinton townhouse conversion sold for only $4,350,000. This double wide house, in need of renovation, at 453-55 West 56 th Street sold for $588/SF. Meanwhile, on a price per square foot basis, the neigh...
In this Thanksgiving week, I'd like to give thanks for one of the reasons that the NYC real estate market has rebounded so quickly: the condo market.
I wasn't in the business in the early 1990s, but I was told that the oversupply of commercia...
Over the last cycle, real estate fortunes were made by those who bought NYC land and vacant buildings in areas prime for future development. Neighborhoods like Harlem, West Chelsea, andWilliamsburgcome to mind. Today, major institutional players...
