Saturday, January 26, 2013

Will these Tiny Apts that Bloomberg is proposing take off?

New York City Extols Virtues of Tiny Apartments

PHOTO: Tiny model apartment

Friday, January 25, 2013

Brooklyn 2013 Real Estate Predictions

Three Brooklyn neighborhoods poised to be the city's hottest real estate spots in 2013


New York City home values are forecasted to barely budget in the coming year, but parts of Brooklyn are ready to take off, according to a new report.

New York City home values may be ho-hum in the year ahead, but parts of Brooklyn appear poised to blaze, a report released on Tuesday showed.
Some of the city's hottest properties of 2013 will be in Brooklyn's Prospect Lefferts Gardens, where the median home value is set to surge 8% to about $901,000, according to real estate data company Zillow.
Brooklyn Heights and Boerum Hill, where home values are expected to rise about 7% by December, will round out the top three biggest gainers, according to Zillow's forecasts.

Rarely Available Designer Loft Space in Brooklyn

Monday, January 14, 2013

What you need to know about the appraisal process since “there is no category for superexcellent,”

Understanding the Home Appraisal Process

BEFORE anyone can buy a house with a loan from a bank or refinance a mortgage, the lender needs an objective assessment of the property’s value — after all, the home is the bank’s collateral for the loan. Assessing the value is the job of the appraiser.
Illustration by Phil Marden for The New York Times
Appraising a home, particularly in New York City, is not simple. Similar apartments just a few blocks from one another can have very different values. The floor that a home is on, the kind of view or light it gets — each factor contributes to its value. The best appraisers are intimately familiar with the neighborhoods they work in.
Jonathan J. Miller, the president of the real estate appraisal firm Miller Samuel, says that with a co-op, he begins by examining the building’s financials: if there is likely to be an increase in maintenance or a special assessment, it might lower the appraisal.

Tuesday, January 8, 2013

Upper West Side Inventory in High Demand

UWS has just five months of active listings

January 07, 2013 12:00PM

Adrienne Albert and an Upper West Side block
The absorption rate on Manhattan’s Upper West Side is a whopping 33.4 percent, meaning that the supply of listings could run dry in just five months. That neighborhood has the highest absorption rate of the five neighborhoods — the Upper West Side, the Upper East Side, Midtown West, Midtown East and Downtown — tracked in a new Marketing Directors report.
On the Upper West Side, there are some 329 current, active listings. The Downtown market has the next highest absorption rate, 27.1 percent, with 606 available units of housing. There is enough supply in that neighborhood to last some six months. Downtown was followed by the Upper East Side, which has a 24.6 percent absorption rate, 404 active listings and seven months of inventory.
The absorption rate was lower in Midtown East and Midtown West, coming at 19 percent and 19.8 percent respectively.
The report details Manhattan inventory below 110th Street.
“Demand will definitely outpace supply, and this will have a real impact on how developers approach the market — from site acquisition all the way through to pricing and sales,” said Adrienne Albert, founder and CEO of the Marketing Directors, in a release that accompanied the report. —Zachary Kussin

Monday, January 7, 2013

What $4,400/Month Can Rent You Around New York City

Friday, January 4, 2013, by Jeremiah Budin

Welcome back to Curbed Comparisons, a column that explores what one can rent for a set dollar amount in various New York City neighborhoods. Is one man's studio another man's townhouse? Let's find out! Today's price: $4,400/month.

Wednesday, January 2, 2013

New York City Rental Market outlook - 2013

The Rental Tide Subsides

  • Apartment rents in New York City have been rising rapidly for several years, but signs are now emerging that the market has hit a speed bump and is finally shifting to a slower gear.
    Manhattan rents have been dropping, with the average price $3,368 in November, $76 less than in October and the third consecutive month prices have declined, according to Citi Habitats.
    While some of this may be seasonal — the rental market tends to soften during the winter — the pace of rental growth year over year has also slowed. According to, median rents are 1.5 percent higher than one year ago, a marked drop from the 10 percent increase that rents posted two years ago and the 15 percent of three years ago. Inventory is also up, with 13,618 Manhattan apartments for rent in November, a 21 percent increase over November 2011, Streeteasy found.

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