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Manhattan Market Data
Summary 1st Quarter 2012 Data Please click on links below to view details by size Zip CodeNeighborhoodAvg. Sales PriceMedian Sales PriceAvg. Price/Sq.Ft.Avg. Sq.Ft.10001Chelsea / West Midtown$1,329,160$1,075,000$9301,329,16010002Lower East Side$588,092$485,000$768588,09210003Greenwich Village/Union Square/Gramercy/Flatiron$1,173,396$800,000$1,1391,173,39610004Battery Park City$856,139$978,617$885856,13910005Financial District$907,259$875,000$1,009907,25910006Financial District/Battery Park City$1,036,223$970,000$1,3801,036,22310007Tribeca/Financial District$2,552,519$2,150,000$1,3272,552,51910009East Village$812,938$925,000$850812,93810010Gramercy/Flatiron$954,400$700,000$1,121954,40010011C... ...
Continue readingGuarantor Service says “2012 NYC Renter Should be Qualified, Prepared or be Frustrated!”
The NYC apartment renter will be facing tough market conditions which will make it especially challenging to rent an apartment this upcoming rental season. Insurent Lease Guaranty states that the challenges for renters are: high demand from many who prefer to rent, very high prices, low vacancies, occasional above ask bids, multiple applications, very tough qualification standards, short window of opportunity or time on the market, waiting lists for apartments before they are listed which limit the number of apartments actually reaching the market, and less supply due to fewer new luxury rental buildings opening in 2012. All in all, renters are facing a very difficult market in 2012 and will... ...
Continue readingKeys to Being a Successful Residential Rental Broker from NYC Expert
After only three years in the business, few young residential rental brokers master the ability to quickly get their clients the apartment they want and close a large numbers of leases in a challenging rental market. Some young brokers fail, and many others underachieve. Joseph Haddad, now SVP of Caliber Associates, is the exceptional young residential broker as he has closed over 200 deals in the last 3 years, after only starting in the business with Caliber Associates in late 2008. Read more
Continue readingInternational guarantors: Worth the risk?
Susan Tsang had already seen dozens of apartments by the time she finally convinced a landlord to rent her the $1,950-a-month Upper West Side studio where she lives today. A doctoral biology student who grew up in Queens, Tsang earns a modest stipend. However, her family lives in Hong Kong, where she was born. And her roommate, who works as a receptionist and teacher, was back from a two-year stint in Japan, and had yet to earn a U.S. paycheck when the longtime friends began apartment-hunting. This unique collection of circumstances combined to turn their hunt into a three-month marathon. It wasn't until the Brodsky Organization took the rare step of allowing Tsang's father to act as an inte... ...
Continue readingIrene could seriously impact NYC buildings
Hurricane Irene may cause serious damage to New York City buildings, Bloomberg News reported, as it threatens to bring strong winds and surging floodwaters. Irene could be "a once-in-a-lifetime event if it goes according to the forecast," said Jim Rosenbluth, managing director for crisis management at Cushman & Wakefield. Basements and lower levels of buildings close to the shore "would absolutely be at risk," he said. Lower Manhattan will be particularly prone to flooding read more.
Continue readingChanges in refinancing
REFINANCING your mortgage now is different from the last time you did it. Two-thirds of mortgages being written these days are refi’s, according to the Mortgage Bankers Association. Assuming your credit scores are strong, deciding whether to jump in as well may be a matter of numbers; there are plenty of Web calculators to test the what-ifs, like the ones at HSH.com. Interest rates are teasing new lows, at 4.49 percent, on average, as of Thursday for a 30-year fixed-rate loan, according to Freddie Mac. Read more
Continue readingFirst Look at 900 Degrees, Now Serving Neapolitan, Roman, and NYC Pizzas
As promised, the folks behind San Francisco’s popular Tony’s Pizza Napoletana opened 900 Degrees this week, and it’ll be open seven days a week for lunch (starting at 11 a.m.) and dinner (from 6 p.m. till 1 a.m.). In addition to the Neapolitan, Roman, New York, and “Americana” read more.
Continue readingJustin Timberlake Finds a Buyer for $5 Million Tribeca Condo!
Tired of the paparazzi and part-time doorman, Justin Timberlake ditched Tribeca's Pearline Soap Factory for a penthouse at Soho Mews back in December. At the time, he hadn't yet found a buyer for the Pearline Soap pad, a 3,000-square-footer for which he paid around $4.77 million. But now he has! According to the listing and StreetEasy, the apartment is in contract as of yesterday. The ask was down to $4.995 after a small Price Chop of $225,000 back in February. But the place isn't worth our tears.
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