Even though, traditionally, autumn has been a strong season for sales ofluxury condos and real estate in Manhattan, sales these days have been harder to come by. This decline has put brokers and real estate pros in a bind, because many buyers and sellers are waiting until the spring to make their moves. Over the past few years, New Yorkers have turned their attention towards spring in lieu of buying or selling Manhattan luxury real estate during the fall. According to Streeteasy.com, Manhattan October sales have declined from 868 in 2009 to 371 in 2011. This precipitous drop may not be as bad as it as sounds - this isn’t a long-established pattern - but as of right now it appears that a slow autumn season may become the norm, as the market shifts from autumn to spring. But is there a benefit to this slowdown for Manhattan buyers?

Leadership in Energy and Environmental Design, or more commonly known as simply LEED, is one of the biggest buzzwords in real estate right now. In short, it is a set of strategies that are used to evaluate real estate development projects on their effort towards environmental friendliness. In order for a building to be considered LEED certified, it must pass a series of required prerequisites and elective credits set by the U.S. Green Building Council. Once a building has been approved by the Green Building Council, it will then be confirmed and decreed by the Green Building Certification Institute as officially certified. While many people have heard of LEED certified buildings, few New Yorkers can confidently identify the characteristics of green buildings.

When Lehman Brothers went bankrupt in the fall of 2008, perhaps no neighborhood was more greatly affected than Harlem. The ill-timed flurry of construction in Harlem that preceded Lehman’s collapse left about a dozen new developments stranded, so to speak. In other words,  those new luxury condominiums either on the market or about to be on the market at that time suddenly had no buyers and a bleak future. So, almost overnight, the new construction revival in Harlem created a glut of luxury condos that no one wanted to live in. This unfortunate turn of events had defined Harlem real estate for the past few years, but it looks like the damage wrought by those events has finally abated: in the third quarter of this year 150 condos sold in Harlem, marking the fifth quarter in a row where condo sales in Harlem exceeded 100 units. Despite the odds, sales of new luxury condos now exceed pre-Lehman levels. Granted, this is due to greatly reduced inventory and an of quality inventory elsewhere in Manhattan, but this recovery is still impressive, and it spells good news the Manhattan luxury real estate market as a whole.

The allure of newly constructed luxury condos in Manhattan is undeniable. These shiny new condominiums look great and offer a litany of amenities not found in older buildings. Plus, many luxury apartments in pre-war and older post-war buildings are badly in need of up-keep and may need extensive renovations, whereas newly constructed luxury condos are untouched and pristine. But before making the decision to purchase a new luxury apartmentin hot neighborhoods likeBattery Park City or Chelsea, there’s a few things you should address before you sign on the dotted line. While new construction buildings offer many benefits that range from new amenities, modern designs, and excellent locations, buyers should keep these new construction tips in mind when searching for a new home. For example, buyers probably won’t know the details of the offering plan for their building. Moreover, when buying a new luxury condo, eager buyers may be entirely unfamiliar the ramifications of the contract they’re about to sign. In order to save money, avoid problems, and buy the best apartment possible, don’t jump right into a deal; take the time to check some of the basic features of the building and the apartment. There’s a lot more going on beneath the surface than you may realize.

It’s an encouraging sign that, even in a weak economy, developers are still willing to take risks in new construction. None of those risks are bigger (literally) than the Drake Tower at 432 Park Ave, which will be the largest residential tower in all of Manhattan when completed. The current designs have this massive luxury condominium standing at over 1,300 feet, a good couple hundred feet higher than any luxury residential tower currently standing in Manhattan. A partnership between developer Harry Macklowe and CIM Group, a Los Angeles real-estate company, has kept the project moving forward despite . When 432 Park Ave construction begins, it will set a new standard for luxury condominiums in Manhattan and stand as a powerful symbol that better things are yet to come.

Most of us don't think too hard (or at all) about zoning laws in Manhattan, unless we’re developers. That’s why we often know nothing about the regulations that literally shape the face of the Manhattan. Zoning is an all-encompassing subject that touches every aspect of new development, and it has done so for over a century. So what are the zoning rules that regulate new condo construction Manhattan? Anyone? Well, here’s a starting point to understanding our current situation: for 50 years, the basic structure of New York’s zoning laws installed by then Mayor Robert Wagner has remained the same. Currently, numerous neighborhoods such as the East Village and East Harlem are overhauling the details their zoning laws in order to accommodate new condo construction in Manhattan, but even with these changes, the basic structure of zoning laws remains untouched. A panel of planning experts met last week to discuss whether or not that structure can be improved, and the consenus was that our zoning laws are badly in need of change.

What was once the black sheep of Manhattan real estate, Upper Manhattan is now home to some of the hottest luxury apartments for sale. Traditionally encompassing the neighborhoods of Marble Hill, Inwood, Washington Heights, Harlem and part of the Upper West Side, Upper Manhattan contains some of the most historically rich and culturally preserved communities in New York City. New Yorkers who are searching for cheap rents and undiscovered entertainment hubs, like jazz lounges and lighthouses, have flocked to Upper Manhattan neighborhoods like Washington Heights and Harlem in recent years. For many young couples and artists, the quasi-suburban neighborhoods of Upper Manhattan have become a great alternative to buying in Midtown West and Midtown East.

Easy credit, rapid development, rising values, rising demand, resales aplenty: does this sound familiar? The Manhattan real estate boom of 2007 and 2008 for luxury sales exhibited all of these characteristics in spades, but this was nothing new for Manhattan. During the roaring 20’s, the exact same boom took place, although everyone knows how that scenario played out. The stock market collapsed, the real estate market followed suit, and property prices (when measured by square foot) declined for a decade. While the parallels are undeniable, very few people are willing to draw them, and for good reason - the real estate market depends heavily on consumer confidence. Nonetheless, the similarities between now and then far outweigh the differences.

The approval process for new construction plans in Manhattan has always been a source of frustration for developers. Government red tape has made it notoriously slow; many projects have been delayed for months or years, and some die in the approval stage. Not only that, but more desirable neighborhoods like the West Village and SoHo have especially strict regulations. It’s no wonder approval took forever: The Department of Buildings and 6 other government agencies reviewed each plan, and the paperwork moved slowly from one agency to another. In order to expedite this process and create more business and jobs in Manhattan, Mayor Bloomberg announced the creation of the NYC Development Hub, a secure on-line website run by the DoB designed to accelerate the approval process for new construction. This change should have an immediate effect on condo development; under the new system, every agency can review the digitally submitted plans at the same time. Plus, representatives from those agencies will create their own mini-hubs to participate in video conferences with architects and engineers while reviewing their plans.