Articles on Manhattan Condos

Columbus Circle Continues To Ascend To the Top

Condo sales in Columbus Circle are robustThere is perhaps no part of Manhattan that is more coveted than Columbus Circle. Downtown neighborhoods like Tribeca and Soho may have the highest average sales prices in Manhattan, but by any measure Columbus Circle, the small area consisting of a few square blocks on the southwestern corner of Central Park, holds its own against those popular areas. After all, anyplace where a penthouse can sell for $88 million – as a pied a terre, no less – must be doing something right. As we’ve written about previously, the most popular condos for sale in Columbus Circle make it clear that the ultra-lux sales market in Manhattan is as strong as it ever was. It’s hard to draw any other conclusion when a penthouse in one of the best newly constructed buildings Manhattan has ever seen is asking for $110 million, and we’d be willing to bet they’ll get it.

Better Than You'd Heard: REBNY Third Quarter Stats Show Manhattan Luxury Condo Market Is Booming Again

Manhattan Real Estate Market 2010It's enough to make a blogger nervous, honestly. It's increasingly obvious that the market for Manhattan luxury condominiums is in a boom phase -- but as the shape, size and volume of the boom in NYC condos continues to become clearer, our job here at the New Construction Manhattan blog becomes more difficult. Wasn't it just a little while ago that we wrote about the big third quarter in the Manhattan condominium market? Yes, yes it was. And is this another report crossing our virtual desk, from the august Real Estate Board of New York, indicating that the third quarter spike in NYC apartment sales was even more intense than previously reported? Yes, yes it is. Good news, but... can we get a break over here?

Rally Caps: Manhattan Luxury Apartment Sales Way, Way Up In Last Quarter

Luxury apartment sales are way up over last quarterIt's big news, of course, but the ongoing recovery in the market for Manhattan luxury condos is not exactly news at this point. But what started as a series of anecdotal incidences -- near-ubiquitous price chops replaced by price hikes at buildings like The Apthorp; the consumer confidence reflected in the preference for condos over co-ops; the continued strength of the international market -- has recently become something a lot more measurable. Between the increasingly rapid absorption rate of Manhattan condo listings and the booming market in high-end luxury condo listings, though, the bounce-back in Manhattan real estate is increasingly tough to miss. In that sense, the surge in Manhattan apartment sales in the second quarter reported by the Wall Street Journal's Josh Barbanel isn't exactly a surprise. But the scale of that surge, on the other hand, is both big news and good news. More and more, the recovery in NYC real estate is looking official. "A Wall Street Journal review of closed-sales filings with New York City Department of Finance shows that during the second quarter, which ends June 30, sales were running 80% above the pace reported a year ago," Barbanel writes.

Why Manhattan Real Estate Buyers Should Take Advantage Now

Manhattan real estate Investment

Judging by these figures, even Manhattan is starting to feel the pinch. This means it's a pretty bad time to buy Manhattan real estate, huh? Not exactly...

The current financial climate is bad for builders...

Inventory is piling up. Buildings are hard to move. There's little urgency for new buildings. Loans are becoming a real sticking point. Buyers with serious money are getting, well, picky!

...But good for buyers!