Showing posts with label luxury market. Show all posts

Tuesday, April 9, 2013

Fewer sellers fuel low inventory in NY real estate market

Real Estate News | New York Report

Shortage of 'Unaffordable Housing' in NYC

By Bahar Tavakolian | April 8, 2013 10:57 AM ET

Market reports released last week for the first quarter of 2013 in New York were nothing short of impressive. There is record low inventory and high demand. There are buyers out there looking for that perfect New York home and fewer sellers. This has held true for all market segments, from the trophy properties to the more modest ones.

Not long ago I could not have imagined that it would be a challenge to find qualified buyers their New York dream pad. But in these past couple of months, it certainly has been. We have what my esteemed colleague Kirk Henckels calls "a shortage of unaffordable housing."

Once again we have a resurgence of competitive bidding for intelligently-priced quality properties, as buyers who qualify for a home mortgage want to take advantage of the record-low interest rates. Inventory is down 16.9 percent from a year ago and quality homes are selling rapidly and for compelling prices.

Read the full story here: http://www.worldpropertychannel.com/featured-columnists/new-york-report/new-york-housing-luxury-residential-market-ny-real-estate-market-reports-2013-6702.php

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Friday, October 19, 2012

31-Room Clinton Hill Mansion Seeks a Whopping $10M

Click here to view the full photogallery.

Fort Greene may be the best neighborhood in Brooklyn, but it's not the only one that can have a $10 million house—this 31-room mansion at 278 Clinton Avenue in Clinton Hill has just been listed for the same price. It's the most expensive listing in the neighborhood by more than $700,000, and it's one of the most expensive properties in the whole borough. Built in 1884, the beautiful red brick home retains its original Queen Ann and Neo Grec architectural details, and it has a 60-foot wide front garden. There's a two-car garage, and the 6,900-square-feet of living space is split into several apartments that can be rented. There's also an additional buildable square footage up to about 5,700 square feet.

Read Full Story Here>> http://ny.curbed.com/archives/2012/10/15/31room_clinton_hill_mansion_seeks_a_whopping_10m.php

Thursday, October 29, 2009

Inside the Simmons mansion

Inside the Simmons mansion

After a second, $3.3 million price reduction, Kimora Lee Simmons' Saddle River, NJ home is on the market for $16.5 million. The Baby Phat designer and ex-wife of Russell Simmons is reportedly looking to acquire a Manhattan residence once she sells the 35,000 square foot, 10-bedroom mansion, set on four acres with a movie theater, indoor and outdoor pools, and three kitchens. The master suite alone is 2,000 square feet. When the home first hit the market last year, it was listed at $23 million. It was then taken off the market and later re-listed at $19.8 million before the most recent price cut. Stephanie Rosken of Prominent Properties Sotheby's International Realty has the listing.

source: http://therealdeal.com/newyork/articles/after-price-cut-kimora-lee-simmons-looks-to-trade-16-5m-saddle-river-new-jersey-estate-for-new-manhattan-residence

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