New York City Real Estate Blog Archives for February 2010

Condos Still Selling at Riverhouse as Developers Engage in Legal Skirmish

The Riverhouse in New York CityWe'll just be honest about this: we at New Construction Manhattan just love us some Riverhouse. The super-sustainable Battery Park City condo is one of the greenest NYC condos out there, period, and offers every bit as much in terms of amenities and stunning apartments for sale as it does in terms of green elements. The Riverhouse is a LEED Platinum condo with a great location and great condos, and that's why we like it so much. There, we said it. So who cares if Riverhouse is currently wrapped up in a legal squabble between its managing corporation and developers? Um, right?

New on New Construction Manhattan: Getting To Know BLUE Condominium

Blue condominium in Manhattan The topping out of a new construction condominium is a big deal, but new NYC condos crop up on New Construction Manhattan just about every day. In some cases, these are new buildings with new condo listings; in other cases, it's just a new condo listing on NCM. While the BLUE Condominium, an architecturally stunning condo on the Lower East Side of Manhattan, isn't exactly new -- the building went up in 2006, and has been an eye-catching blue-tinted fixture on the lower Manhattan skyline ever since -- it is new to New Construction Manhattan's apartment listing database. Which means that we now have a good excuse to introduce you to both a fascinating condo and one of the elite condo listings on the Lower East Side.

Are Mortgage Rates Getting Set For A Spike?

New York City Mortgage Rates to Rise?Mortgage markets reeled Wednesday after the Federal Reserve released the minutes from its January 26-27, 2010 meeting. Mortgage rates in Manhattan are now creeping up to their highest levels since the start of the year. The Fed Minutes is a follow-up document, delivered 3 weeks after an official FOMC meeting. It’s a companion piece to the post-meeting press release, detailing the debates and discussions that shaped our central bankers’ policy decisions. The Minutes also offer a terrific look into the Fed’s collective mind, and they make it clear that, on Wednesday, Wall Street didn’t like what it saw. Specifically, the report disclosed that:

New On New Construction Manhattan: Getting To Know Barbizon 63

Barbizon 63 in New York CityManhattan real estate is a living thing, which means that new condominium listings go up on New Construction Manhattan all the time. This week is no different, as a bunch of pre-war condominium listings are hitting our database. As part of a semi-regular feature, we'll cast the spotlight on a few of these deserving newbies as they go up. Today, we'll take a look at Barbizon 63, a pre-war condo building on the Upper East Side that's also among the newest NYC condos on NCM.

FHA Loan Program Raises the Bar For Prospective Homeowners

FHA Loans and prospective New York City buyersThe Federal Housing Authority's home loan program has been a rare bit of good news for prospective homeowners over the rocky past couple of years, and has doubtless helped put many New Yorkers into NYC condos. With the FHA, like everyone and everything else in real estate, currently feeling a pinch, the federal agency recently revised its standards upwards somewhat. The adjustments aren't too onerous, though, and it's likely that the FHA's loans will continue to make buying a condominium or apartment in Manhattan (or anywhere else) that much easier than it otherwise would be. At the blog Bigger Pockets, Winston Westbrook runs down the FHA's tightened standards. In short, they look like this:

Green Light: Ultra-Green Village Green Condos in East Village Looking Like A Winner

Green building in the East VillageNew construction condominium buildings are something of a rarity in the East Village, and good news about New York City real estate has been equally scarce of late. All of which makes it that much more impressive that Village Green, an ultra-sustainable new construction condo on East 11th Street in the East Village, is looking more and more like a true success story.

What Recession? Ultra-Luxury Casa 74 Reportedly 90 Percent Sold

Luxury apartments continue to sell in ManhattanEven by the standards of luxury condominiums on the Upper East Side, Casa 74, the 30-story tower at 255 East 74th Street is a strikingly luxurious development. Designed and marketed as an "ultra-luxury" residence, Casa 74 offers an ambitious combination of amenity-laden living and deluxe condominiums, with a price tag to match. In short, it looked like the sort of building that would have a hard time during the current economic downturn. But it hasn't turned out that way, and Casa 74 has unexpectedly bucked a down real estate market, and is reportedly now 90 percent sold.

Meet Manhattan's Newest FHA-Approved New Condominium Development

Manhattan has a new FHA-Approved Conominium developementThis isn't the first time we've covered the way that the Federal Housing Administration's new guidelines for condominium developments has created a new class of desirable and affordable condominiums in Manhattan. Well, the list of FHA-approved new condominium developments in Manhattan has expanded by one, as Harlem's 2280FDB recently received FHA approval. So, what is 2280FDB?

What Are We Doing Here?

nySo, you've probably noticed: the blog at New Construction Manhattan gets updated on a less-than-regular basis. While we strive to cover what's important to those looking for condominiums and apartments in Manhattan, from FHA-approved buildings to gyrations in the mortgage market to new condominium listings and construction, we haven't exactly done so regularly. Starting soon, that's going to change.