Articles on Manhattan Real Estate Trends

2015 Closes Out with Surging Manhattan Real Estate Prices

The New Year has been rung in and 2015’s 4Q reports have confirmed the undeniable: Manhattan’s real estate prices are on the up. In Miller Samuel’s final Elliman Report for the old year, Manhattan housing prices set records as sales all around remained on the higher end. Over the 27-year data series, 4Q of 2015 marked the highest sales prices in the borough.

REBNY Reports Record High Sales in Outer Boroughs

With all those mega high-rises going up in Manhattan and on the newly tapped waterfront areas, it’s easy to forget about New York City’s outer boroughs and the many neighborhoods throughout. We already know that places like Williamsburg and Long Island City are hot markets, but a recent report released by the Real Estate Board of New York (REBNY) shows that they aren’t the only popular neighborhoods. While Williamsburg and LIC are doubtlessly contributing to the popularity of Brooklyn and Queens, other areas have helped contribute to a 6-year high in home sales. 

NYLO Returns the Upper West Side to the Roaring Twenties

New York in the 1920s

In the wake of Baz Luhrmann’s re-imagining of The Great Gatsby, New York City has been brought back in time to the Roaring Twenties and its styles. Twenties themed events ranging from lawn parties and weddings have sprung up around the city in the past year as New Yorkers are eager to relive the times of the Harlem Renaissance and Jazz Age. On The Ave hotel at 77th street and Broadway is the latest addition to the trend as it puts the finishing touches on a 1920s makeover that opens in early September. 

150 Charles Street: Sizzling Up New York’s Real Estate Scene

150 Charles Street in the West Village

If we were to look at its architecture alone, 150 Charles Street in the West Village may not be as glitzy or glamorous as some of the other new buildings coming up in New York City. But while its exterior may be low profile, its interior is anything but ordinary—the luxury apartments being offered at 150 Charles Street have been selling like hot cakes ever since they came into the market in February. People have been lining up to snap up the homes at 150 Charles Street, and nearly half of the building’s 91 condos have already been sold.

Downtown Manhattan Becomes Pricier Than Uptown

Downtown Manhattan gets pricier than Uptown

It’s long been a rule of thumb that apartments in Uptown Manhattan, especially those around Central Park, see better asking prices than homes in Downtown Manhattan neighborhoods like Soho, Tribeca and Chelsea. But that rule seems to have been broken now—according to a new report in The Real Deal, the average asking price for a Downtown apartment in the last quarter of 2012 became $2,777 per square foot, nearly $100 more than the price per square foot for a similar unit in Uptown or Midtown Manhattan.

Low Inventory Levels Cause Prices in Brooklyn to Shoot Up

Low Inventory Levels Shoot Up Apartment Prices in Brooklyn

Brooklyn, long seen as the less expensive New York borough when compared to Manhattan, could soon be losing that reputation as prices for apartments in the borough shoot through the roof thanks to a market that’s running short of inventory. Although there’s a lot of demand for homes in Brooklyn, home hunters in the borough are finding that there just aren’t enough vacant apartments for them to move into, thereby giving sellers the upper hand in an increasingly tight real estate market.

International Buyers Making New York City Real Estate Sector Shine

International buyers are dominating Manhattans real estate market

New York City’s real estate sector has been having a great spell over the past few months. Several high profile listings have come into the limelight this past year, with some garnering eyeballs for their astounding heights and others with their stupendous brands of luxury. Besides these, many new construction projects are also being developed, with these swanky new apartments being lapped up as soon as they enter the market. But what’s interesting about the buyers of these ultra deluxe homes is that many of them are not from New York, or even from America—foreign buyers are dominating Manhattan’s real estate scene today.

Living with the Stars in New York City

Celebrities with Manhattan condominiums

While all of us hope that we get good neighbors when we move into a new apartment building in Manhattan, some of us are luckier than the others in that department. Some of the world’s most recognizable celebrities live in New York City, with many of them living in luxury apartment buildings around Manhattan—just like you! So don’t be surprised if you walk out of your home one morning to run into your favorite star in their pajamas—stranger things have happened, and they seem to all happen right here in New York.

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.

Manhattan Apartments See Highest Quarter Sales Since 2008

Manhattan's real estate market sees highest quarter since 2008

As autumn makes its chilly presence felt in New York City, the skyrocketing prices of the city’s real estate have also cooled down (finally!). After a rollicking summer that saw eye-popping prices being asked for several homes in Manhattan, real estate reports from the third quarter of 2012 say that the prices of condos and co-ops have remained more or less the same, with only a few real estate firms showcasing an increase in prices. This is especially true in the lower and middle end of the market. However, Manhattan apartment sales have continued to rise, reaching a level that is the highest quarterly total since the financial crisis began in 2008.