During the giddy days of the housing boom, perhaps no single word quite defined Manhattan’s zooming sales market quite like “luxury.” Everyone was obsessed with it and wanted to buy it; most people paid for it, even if it wasn’t what they got. Those days are definitively over, with last week’s first-quarter market reports unmistakably Read More
It’s probably overdramatic to call this the great reckoning, but, then again, two of the primmest, most significant, czar-worthy pieces of New York real estate have taken massive price cuts in two days.
Yesterday, the asking price for a fourth-floor duplex at 740 Park, owned by the estate of the former co-op board president, went Read More
Max Abelson dined late last week at the Four Seasons with star broker Paula Del Nunzio of Brown Harris Stevens. Their conversation can be found here, and covers everything from Mark Cuban to the $100 million Manhattan home to the psyche of luxury brokers amid the Great Recession.
Hold on to your hats, ladies and gentlemen, Wall Street bonuses are headed for an epochal fall. According to estimates from the city Comptroller’s office provided to The Observer today, year-end bonuses will total $14.5 billion for 2008, an over 50 percent drop from 2007, when $28.9 billion was paid out to Wall Streeters.
Of Read More
All is not well at the summer playground for America’s rich and famous, as home prices and sales in eastern Long Island tumbled to two-year lows in the third quarter, according to a new Hamptons/North Fork market report from real estate appraisal shop Miller Samuel and brokerage giant Prudential Douglas Elliman.
The quarterly median sales Read More
Research site PropertyShark crunched the numbers, and came up with where the home sales of at least $5 million were happening in Manhattan this year. The above numbers, ranked by amounts per zip code, cover closed condo, co-op and other single-residential deals from January through Oct. 17. Also: The numbers don’t include deals at super-expensive Read More
This is the final of three articles today on the Manhattan housing market since last autumn. Read about the apartment rental market and the condo sales market.
Median prices for new-development luxury condos in three of Manhattan’s glitziest neighborhoods dropped substantially during the third quarter, according to a new report from research outfit Read More
In an epic article today on why the super rich are still spending superbly, the Times wrote that buyers have "already closed on 71 Manhattan apartments that each cost more than $10 million, compared with 17 apartments in that price range during all of 2007."
That stat was already outdated by lunchtime.
According Read More
