Articles on Buying Manhattan Apartments

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.

Manhattan’s Luxury Real Estate is On a Roll

Brooklyn Bridge over looking Manhattan

We’ve said it once, and we’ll say it again: Manhattan’s luxury real estate market is doing very well for itself right now. The slump that the sector saw in the past few years is no longer in the picture, and sales of these magnificent condominium apartments that are priced $4 million and above are shooting through the roof. Several reports on the real estate market have already testified to this boom in the past few months, and the latest to join the bandwagon is the luxury real estate report by Olshan Realty, Inc.

15 CPW Towers Over Manhattan’s Real Estate World

A look back at our blog posts over the past few months will reveal that one luxury condominium in particular has been popping up more than the others. The building in question is, of course, 15 Central Park West, the magnificent, limestone building designed by Robert A. M. Stern that has gained a very worthy reputation in Manhattan’s real estate market. While every apartment in this complex is by itself an amazing home, renovations and redesigns of the same have led to even more striking homes, with price tags that match the astounding glamour of these luxury homes.

High Taxes Spark British Invasion of NYC

The English are increasingly investing in Manhattan real estateWatch out, Manhattan real estate: the British are coming. Currently faced with a wave of tax burdens in London, local property buyers are being provoked to take their business elsewhere. Back in March, the British government began cracking down on tax avoidance, focusing tax-collections on the city’s biggest buyers: foreign investors. According to a recent study, purchasers of London property priced over £2 million are paying twice as much in transaction taxes than those buying in New York. So from the Irish buying out Midtown to the French election prompting wealthier residents to relocate, many Europeans are finding New York City to be a safe haven for their investments, and the Brits are just the latest group geared to make an impression on our market.

NYC Tax Abatement Secure in 2012

New York City Tax Abatements are secure in 2012Condo and co-op owners can breathe easy; the 17.5 percent abatement on real estate taxes will still be coming their way this year. While it seemed as though the tax reduction was in danger of expiring a few months ago, city officials have decided to keep the abatement in the budget for the 2012 fiscal year. However, this could change in years to come, as the future of tax breaks for Manhattan apartment owners could face alterations.

Domestic Buyers Take on Foreign Spending Habits

American buyers are shelling out big bucks for Manhattan condosWhile the massive purchases of Manhattan real estate by foreign buyers have been hot topics on New Construction Manhattan, the domestic buying market is finally stepping up its game. Looking at the numbers, seven of the twelve Manhattan homes selling for more than $35 million went to Americans since 2010, and this pace is expected to remain steady. American buyers have been closing deals for Manhattan’s most expensive apartments, with a recent transaction by a domestic purchaser being cited as the second-most expensive sale in city history. It's time to recognize that the conversation about ultra-wealthy internationals pushing the envelope of high-end sales of Manhattan condos should include home-grown buyers too.

Newly Constructed Condos Split In Size

Walker Tower is one of Manhattan's newest large construction projectsWhat size apartment sells best? In Manhattan’s real estate market, the size and resources of an apartment can be paramount. Difficult economic times means that buildings need to be marketable in order for any developers to make a true profit. Naturally, the issue rests in whether New York apartments should be large in size to suit serious homebuyers hoping to start families or reduced in size to suit out-of-town buyers seeking to live in small Manhattan condos that have just enough space to fit their needs. Interestingly, according to reports from Prudential Douglas Elliman, both of these extremes of apartments are showing marked increases in sales in recent years. It appears that varying customers truly do have varying tastes as they flock to both large Manhattan condos as well as smaller one-bedroom apartment listings.

Meet the Government Agency That's Quietly Transforming Manhattan

Manhattan real estate is being transformed by the Economic Development CorporationMayor Bloomberg has always had an unshakable faith in the power of the free market, entrepreneurship, and the nascent tech-industry. Perhaps that’s why he’s doubled the budget of a little known government body during the course of his administration, giving over $500 million in taxpayer dollars annually for capital projects. It's time to get familiar with the New York City Economic Development Corporation, an organization specifically designed to stimulate the economy of New York City, but one that is controversial insofar as it straddles the murky area between the public and private realm, making it powerful and inaccessable at the same time.

High End and Mid Priced Condos Doing Exceptional So Far in 2012

The early winter m15 Central Park West in Manhattanonths always come with a string of market analysis meant to gauge how Manhattan real estate trends will play out over the next year. We wrote earlier about overall trends experts predict will dominate headlines in 2012. Now the Real Deal has compiled the market trends that have been playing out since January, with commentary from industry players on how we can expect those trends to advance. Over the past month, ultra-luxury Manhattan condos have been doing as well as they did in 2011, while mid-priced condos in the $3 to $5 million range have shown marked improvement. Condos priced lower than that have been sluggish, suggesting that most people who want to buy prefer the extensive room and building amenities high-end apartments provide.

High-End Sellers Continue to Thrive with Excessive Demand for Luxury Properties

Manhattan luxury propertiesNew Construction Manhattan has been tracking the overwhelming demand of luxury apartments for ages, and the result of this needy market has made high-end NYC homes exceptionally hard to come by. Prices of luxury apartments have been on a steady increase, and with a relentless demand for these properties from wealthy locals and foreign investors, they are expected to continue rising.