Manhattan's residential rents are now reaching into the high $100s per square foot in some elite buildings. According to StreetEasy, 160 Central Park South even has multiple apartments with asking rents approaching $200/SF. A unit there rented f...
My firm was hired earlier this year to market 612-18 West 47th Street in conjunction with a court-ordered auction. Although our firm is not a licensed auctioneer, we can help support such auctions. This was one of the few Manhattan properties wh...
Tuckahoe, New York is located about 20 miles from Midtown Manhattan. According to Mapquest, you can drive there in about 35 minutes (although that's probably at 2am with no traffic) or you can take the train from Grand Central in a guaranteed 30...
My grandfather says that he prefers investing in real estate because “they're not making any more land.” Except in rare circumstances, such as Battery Park City, there is much truth in this statement.
In Manhattan, there are only 14,478 acres...
Manhattan isn't the only borough that's experiencing an uptick in multifamily pricing. The 1Q11 Queens pricing improved for both elevator and walkup apartment buildings over the previous quarter. Their cap rates compressed to averages of 5.2% and...
Since January of 2010, the distinction for Manhattan's (south of 96th Street) lowest sales price per square foot was the sale of 14 commercial condominiums at 226-40 East 38th Street. New York University's Langone Medical Center picked up these...
Greenwich Village townhouse prices are now rivaling the Upper East Side's. In January, 23 Perry Street sold for $11,650,000 or about $3,350/SF. I have witnessed a trend where many uptown buyers are coming downtown to live and paying equivalent...
Jaws dropped when the retail condo at 666 Fifth Avenue recently sold for a record setting price of $8,300/SF. By all accounts the $324m sale to the Spanish retailer Inditex SA (ITX) gave the market reason to celebrate. However, by our company's...
Frustrated buyers looking for higher yields might be tempted to look outside their comfort zone. 9% caps do exist in NYC, but they aren't located south of 96th Street...
After a two-year -hiatus, condo conversions in New York City are back. My firm just closed on the sale of the former Village Nursing Home, located at 607-09 Hudson Street, for $33,369,362 to a condo converter. The property is an elevatored, seve...
