Articles on NYC Condos

456 Is In The Mix: LEED-Certified Chelsea Condo 456 West 19th Street Looking More Like Major Success

456 West 19th Street in Chelsea There's a lot to like about Cary Tamarkin's LEED-certified condo at 456 West 19th Street. Some of this has to do with its looks -- even amid the stiff competition provided by other Chelsea condo listings -- even the star-studded constellation of new condo listings around the High Line -- 456 West 19th Street is a beauty. (Architecture critics agree with us there) That there's some green building intelligence behind that elegant facade helps matters, too. And of course the condos for sale at 456 West 19th Street are exceptionally luxurious, even by Chelsea standards -- every apartment at 456 West 19th is a duplex, and the quality of finishes and fixtures are surpassingly high. But while we at New Construction Manhattan love us some 456 West 19th Street, it turns out that we're not alone -- Curbed reports that the high-end Chelsea condominium is shaping up as one of the true sales success stories of the current Manhattan real estate market. As is common -- even with NYC condo prices on the rise -- most of the condominiums for sale at 456 West 19th Street wound up selling for slightly less than their asking prices.

What's Hot Where In Manhattan Apartments: StreetEasy Runs It Down, From Upper East Side 2BRs to Financial District Studios

ManhattanHere at the New Construction Manhattan job, we do a lot of bird's eye view stuff -- or Top of The Nouvel's Eye View, if you prefer. That is, lots of stuff on the big trends in Manhattan real estate -- mortgage rates are down, NYC condo sales are spiking, and so on. But of course Manhattan real estate -- and certainly searching for NYC condos, which is probably why you're at New Construction Manhattan -- is not a top-of-the-Nouvel experience. The process of finding the right Manhattan apartment is a hugely personal, finely individuated and finally very human-scale process.

Just Maintaining: Are Maintenance Fees Climbing on NYC Co-Ops Another Reason Buyers Favor NYC Condos?

Maintenance fees climbing on New York City Co-OpsMonths ago, when we noted the recent spike in the popularity of NYC condos relative to NYC co-ops, the comparison came alongside much attempted soothsaying and no small amount of confusion. The absorption rate on NYC condos and NYC co-ops converge around the $1 million mark, but the way in which upscale Manhattan condos were outpacing similarly priced Manhattan co-ops was striking enough to note even then. That trend shows no sign of diminishing with news that co-op maintenance fees jumped $1.76 per square foot -- an increase of 19% -- over the past year. The condo renaissance -- an ambiguous, tenuous, neighborhood-by-neighborhood renaissance, but one all the same -- continues apace, it seems, in part by default. But what's going on with those NYC co-ops?

Free Falling: What Tumbling Rates on Fixed-Rate Mortgages Mean For People Buying NYC Apartments

MortgageWe're a NYC condominium blog here at New Construction Manhattan, which means that we spend much of our time and nearly all of our pixels covering -- wait for it -- NYC condominiums. Which is cool by us, certainly, given that NYC condos are kind of our thing, but also means that we've been glossing over what is one of the biggest stories in NYC real estate, as well as in real estate across the country. Namely, that would be the tumbling rates on 30-year fixed-rate mortgages, which -- unless you're Alex Rodriguez, Mark Zuckerberg or someone who keeps several million dollars in cash on hand -- is what just about everyone who buys a NYC condominium will be signing on for after finding the Manhattan apartment of his or her dreams. Nearly every day brings news of a decline in the rates on a 30-year fixed-rate mortgage, to the point where it's difficult to keep up. When the Wall Street Journal wrote back in August about the historic lows in mortgage rates, it was a big deal; when those historic lows had dropped nearly another tenth of a point two weeks later, though, it was hardly a surprise.

Main Street, Out Of Exile: Roosevelt Island, Home To New York City's Dullest Retail Strip, Heading For Long-Awaited Makeover

Roosevelt Island viewThere's a scene in the otherwise not-so-good horror flick Dark Water that packs a solid laugh for New York City real estate watchers. Well, several scenes if you're the sort who finds the idea of haunted bathtubs amusing, but the one we're thinking of is when John C. Reilly's real estate agent proudly describes a Roosevelt Island apartment building (spoiler alert: it's haunted) to Jennifer Connelly as featuring "brutalist school" design. Which, as much as we love newer Roosevelt Island condo listings like the elegant Riverwalk, is certainly a fair enough way to describe the East Berlin-style retail strip (above) that runs down the center of Roosevelt Island. While the community's quiet, city-within-a-city vibe is a big part of what makes Roosevelt Island apartments appealing, no one will mourn the passing of those identical, charmless facades.

The Old Boom Reverberates: New York Times Salutes The Beautiful Condominiums of Last Decade's Manhattan Real Estate Boom

Manhattan Condos from the last decadeIt seems like we spend all our time here at the New Construction Manhattan blog sussing out the shape and size and seriousness of the ongoing Manhattan real estate recovery. Which, you know, is reasonable enough of us, given that this is a blog about NYC condos and Manhattan real estate and such. But this fine-grain focus on the present -- and attendant anxiousness to find positive indications for the future in the still-anxious present-day state of Manhattan real estate -- can sometimes limit our perspective somewhat. Not just as regards the recovery, and the search for omens and signs indicating the existence thereof, but to the basic elements of Manhattan real estate itself. All the more reason to enjoy architecture critic Jayne Merkel's piece in the New York Times on the one objective lasting benefit of the last Manhttan real estate boom -- the addition of numerous beautiful and architecturally distinguished new construction luxury condos to the Manhattan skyline. That we have many of those NYC condo listings here at New Construction Manhattan is probably worth mentioning, too, but... anyway, let's get to Merkel.

Caught on the Rebound: Spike In NYC Apartment Sales Reflects Further Improvement In Manhattan Real Estate Market

The manhattan apartment market is improvingThose who read the New Construction Manhattan blog with any regularity are familiar with the fact that the market for NYC condos is in the midst of what appears to be a pretty spectacular rally after some rough years. Really, anyone who reads about NYC real estate anywhere is probably aware of this -- those years were pretty rough, the rally is pretty impressive, and most everyone who has anything to do with Manhattan apartment sales is happier than they've been in years.

How Haircuts Happen: Tribeca Luxury Condo Tribeca Summit As Object Lesson In Condominium Economics

Tribeca Summit in Manhattan We've previously written about Tribeca Summit, one of the more promising luxury condo listings in Tribeca, here at the New Construction Manhattan blog. We've written about Tribeca Summit both because it's one of the more striking pre-war condominium listings in Tribeca and because it is an exceptionally good source of blog copy -- from bitter-ish management disputes to price cuts, Tribeca Summit is an interesting building that has the misfortune, as the Yiddish curse goes, to live in interesting times. But while condos continue to sell at Tribeca Summit, its continued willingness/need to reduce prices on its apartments for sale has made it a frequent subject of analysis. Add it all up, as Sandy Mattingly does at his blog Realtown, and you've got a portrait of a very appealing Manhattan condominium listing with some very appealingly negotiable prices on its condos for sale.

Condos, Absorption Rate and You: Understanding What's Behind The Boom in Manhattan Condominium Sales

Condo absorption rates in ManhattanWe're in the "writing about Manhattan apartments" business here at the New Construction Manhattan blog, not in the "looking gift horses in the mouth" business. So while we've covered the recent boom in high-end Manhattan condo sales and New Yorkers' marked preference for new construction condominiums over luxury co-ops, we haven't really puzzled over the how's and why's of this particular state of affairs. The second quarter NYC apartment sales stats tell us that we're in the middle of a surging NYC condo sales market, so let's party -- or at least search Manhattan apartment listings -- right?

Room(s) With A City View: Growing Market Among Growing Families For Bigger Manhattan Apartments

Larger looking for larger apartments in ManhattanAccording to an article in Wednesday's New York Times, three-bedroom Manhattan apartments and four-bedroom apartments are all the rage amongst families. It makes arithmetical sense, of course -- more kids, more bedrooms, Q.E.D. -- but the boom in sales of three- and four-bedroom Manhattan apartments indicates that a demographic that traditionally hightails it to the suburbs might be opting for Manhattan condos instead. Despite the fact that new condominium sales have been comparatively flat over the past year, sales of three-bedroom and four-bedroom Manhattan apartments have drastically increased -- whether it's because families are looking for more space for their children, space for guest bedrooms, or a tricked-out media room varies from case to case, of course. But clearly there's something going on here.