Articles on New Construction Manhattan

New Developments on the Rise in New York City

Prized Manhattan condos poised for 2013 debuts

If the listings on this site are any indication, there are certainly a lot of new buildings coming into Manhattan’s real estate arena. To live in a luxury apartment in the city is a dream of many a New Yorker, and these prized new developments are being created to satisfy the demand for these remarkable homes. Recent reports have said that there’s been a rise in the construction of such new residences, with new building permits being issued left, right and center.

Taking Stock - The improving US housing market and what it means for New York City

One57 compared to other Manhattan Landmarks

While it's easy to get caught up in fiscal cliff debates, Mayan doomsday predictions, and stories from New Year's parties, sometimes it makes sense to take a step back and look at the numbers. Just how does New York's housing market, and Manhattan in particular, compare to the rest of the US?

NYC: Buying Apartments Before They Are Built

New York City real estate trend: Buying luxury apartments before they are built

With residential real estate inventory levels as low as they are in New York City, it seems that people on the lookout for luxury condominiums in Manhattan are now willing to put their money down for homes even before they are actually built. With the demand for apartments showing no signs of diminishing, and the number of actual apartments for sale still at a minimum, people are now putting their hopes for new homes in the many new buildings that are rising up around the city. Besides being very impressive in their design and architecture, these rising structures have also managed to command top dollar in an increasingly competitive real estate market.

New Gem on the NYC Skyline: 50 UN Plaza

The U.N. will soon have an amazing new condominium as a neighborThanks to both the success and the grandeur of their offerings at 15 Central Park West and 18 Gramercy Park South, real estate developers William Lie and Arthur Zeckendorf have now attained a reputation of being the creators of some of the most luxurious (and most desired) homes in New York City. As a result, the city’s real estate sector is suitably buzzed about their newest development at 50 UN Plaza, located at 345 East 46th Street in Manhattan’s Midtown East neighborhood.

New Construction Expected to Strike $30.7 Billion This Year

The Freedom Tower rising in Lower ManhattanWith both residential and office towers popping up like wildflowers all around the city, an annual report by The New York Building Congress predicts that the annual construction spending in the city is expected to reach a record high of $30.7 billion this year. This development has been hailed as good news for New York City’s real estate sector, as this is the first time that the city’s overall construction spending has exceeded $30 billion since 2008. This rise in spending has been credited to two main reasons: an increase in demand for luxury housing, as well as an increase in activity in both non-residential projects and government spending.

Buying in New NYC Buildings: How to Get a Head Start

With apartment rents in Manhattan continuing to shoot up every day, it is now rather commonplace to consider becoming a homeowner in the city rather than a tenant. With several new developments currently being built all over New York City, there is a large number of options to choose from as your next home. With some research, one can find their next home in the slew of new construction in Manhattan, and get a head start in the race to get such residences. After all, New York City’s real estate market is an extremely tough and fickle one, and getting a good pad is more often a case of being the early bird that catches the worm.

Lack of Condominium Inventory Sends Prices and Sales Soaring

Limite condo inventory has prices risingAs covered extensively by New Construction Manhattan, the Manhattan real estate market has been booming from the number of condominium sales in the past month despite the struggles of the national and global economy. Enthusiastic buyers, spurred by a 3% decrease in market-wide inventory since last year, have diligently pursued apartments for sale in Manhattan, and this trend has greatly benefited brokers, many of whom now find themselves selling condominiums above their asking prices.

Residential Brokerages Demonstrate Marked Growth

The Real Estate Market for Manhattan's condos is seeing much improvementIt’s a good time to be a part of Manhattan’s residential brokerages. With a recovering market, several real estate offices in Manhattan have been able to maintain or even expand their ranks and value. While the number of overall condo listings on the market may have declined, the value of these Manhattan condos has dramatically increased by 12%. This trend is still led out on top by the Corcoran group, boasting both the highest current number of agents and 3.5 billion dollars worth of sales. Other firms such as Prudential Douglas Elliman and Halstead Property are also doing quite well for themselves, showing double-digit percent increases in listings. While the real estate market in Manhattan continues to be dominated by a few big names, these trends of increase seem to predict growing opportunity for real estate agencies in New York.

Even Amidst Heavy Declines, New Residential Construction Marches On

madison square garden new york midtown westIn a city that thrives on the mantra, “Go big or go home,” nowhere is this as apparent as the development of new construction in Manhattan. The biggest critic of the Manhattan real estate development is, not surprisingly, none other than the business itself. In an industry where the indicators of success each fiscal year is judged by how much taller, more extravagent and expensive this year’s projects are compared to the last, 2011 has been criticized as a less-than-stellar year for new construction. Both DNAinfo.com and The Real Deal recently reported that “new constructions in New York City saw a 31 percent decline last year.” Never one to be easily alarmed or fazed by popular headlines, the New Construction Manhattan Blog decides to take a second look at the data and offers a second opinion on the current affairs.

Renovations in the West Village Suggest Increased High-End Movement

It’s difficult to believe the WRenovations are happening in the West Villageest Village is ground zero for new high-end real estate. Anyone who walks through that part of Manhattan will see that not only is most of the space all taken up, but its taken up by small, independent boutiques, dive bars, and prewar multi-family townhouses and brownstones. Not exactly the stuff that surrounds luxury Manhattan condos. But there’s been an influx of high-end development in the area recently, and several ultra-luxury Manhattan condos for sale are scheduled to open over the next few years. How are developers dealing with the space constraints? They’re focused entirely on redevelopment. Which means that many of the West Village’s old and derelict commercial buildings are becoming new, modern luxury condos.