Real Estate News from January 2013

  • Sellers Mimicking Developers, Testing the Market Then Repricing By Ryan Daley | January 16, 2013

    Analysis and Reporting By J. Thomas. With Manhattan inventory levels near all-time lows and housing demand strong, sellers are increasingly finding themselves with the ability to leverage their valued commodity in ways that would have been seen as totally unrealistic just a few short years ago.

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  • Brookfield’s Manhattan West Breaks Ground at Hudson Yards By Aby Thomas | January 16, 2013

    Ever since it was first announced, New York City’s real estate aficionados have been closely following the Hudson Yards redevelopment project, with the undertaking expected to completely transform Manhattan’s real estate scene from the way it is today. Several of the city’s top developers are involved in the project, including big players like Related Companies, Brookfield Office Properties and Extell Development Company. While Related has their groundbreaking ceremony in December, Brookfield had theirs earlier this week on Tuesday, signaling the start of work on the $4.5 billion Manhattan West development on 33rd Street and Ninth Avenue.

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  • Shuttle Buses: The Newest Desirable Building Amenity? By Aby Thomas | January 09, 2013

    Besides offering some fabulous looking homes, luxury apartment buildings in New York City lure in home hunters by showcasing some very useful and convenient building amenities they get to enjoy if they become residents of the building. These services can range from something simple like having an elevator in the building to something more high-end like a state of the art fitness center. At Hampton Court in East Harlem, the building offers its residents private shuttle buses to take them to the nearest subway stations, some of which are located 15 blocks away, thereby making the buses one of the most desirable features of this rental apartment building.

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  • 2013: Economic Principles Will Catch Up To Reality, Condo Prices To Rise By Ryan Daley | January 04, 2013

    Chart, analysis and market projections by J. Thomas   Footnotes to accompany chart above 1.) From 1996 – 2007, there exists a tight correlation between new residential units (SUPPLY) and condo sales (DEMAND) as developers introduced additional units in response to growing demand. 2.) In each of those years from 1996 – 2007, supply was greater than demand, representative of healthy balance in the supply / demand curve.

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  • A Look Back at New York Real Estate in 2012 By Aby Thomas | January 04, 2013

    If the record breaking sales that occurred in New York City are any indication, then luxury apartments were in high demand in 2012. A string of impressive sales at prestigious buildings like 15 Central Park West, One57 and 50 Central Park South paved the way for other buildings in the city to follow suit, with apartments on the market featuring prices as grandiose as their design. But despite their sky-high prices, most of these homes found buyers as well—a good indication of the resurgence of the New York real estate sector.

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  • New Year, New App for NYC Subway Riders By Aby Thomas | January 01, 2013

    What better way to welcome the new year than with some new technology! New York’s Metropolitan Transportation Authority has recently released a new smartphone app called “Subway Time,” which will tell subway riders when they can expect their trains to arrive at their respective stations. The app, which is currently available on iPhones and iPads, is currently servicing only seven of the city’s 24 subway lines, but one can safely expect more trains to be featured on the app in the near future.

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