It would seem by a new report that there are either (a) a lot of people leaving Brooklyn; or (b) a lot of opportunities to move to Brooklyn. It’s got to be (b), right?
The number of homes offered for sale in the BroBo paradise jumped 11.5 percent annually in the second quarter, according to a new report from Douglas Elliman and Miller Samuel, and the average number of days spent on the market hit 142 days, up from 103 days during the same time last year.
More apartments and brownstones gone wanting? For a month-plus longer than last year? What gives?
Gregory Spock is used to performing librettos before rapt audiences in concert halls from Hartford to Florence. Recently, the 26-year-old has found more intimate venues within the exposed-brick walls of New York townhouses. A Roland keyboard or a baby grand to his right, a pink bow tie around his neck, a songbook in his hands—Verdi always wows `em—Mr. Spock delivers bursts of baroque beauty, all for salesmanship.
Mr. Spock joined Manhattan brokerage Rubicon Property four months ago, after receiving his broker’s license in the winter. He said his new boss liked him for his creativity, which means saving money on those showings.
“A lot of people have food or wine now, but the entertainment isn’t thought out.”
Because who isn’t lulled into signing a multi-million dollar contract by the plaintive moans of Aida?
During last decade’s real estate boom, the real estate party, usually in a newly built condo tower, was a staple of the industry. After the recession hit, nobody could much afford them. Now they seem to be hobbling back, along with the real estate market.
As it turns out, we’re all screwed (except uptown)—the latest second-quarter data from Douglas Elliman and Miller Samuel shows there isn’t much discrepancy between rents on the East Side, West Side and downtown in Manhattan. And the net rates just keep on rising.
Co-ops are the dominant form of for-sale housing on our fair isle, more difficult to get into (persnickety boards that have recently gotten that much more uppity) and generally more expensive to buy (bigger down payments and more stringent financial requirements). They account for roughly two-thirds of the Manhattan housing stock, with condos comprising much of the rest.
But, for a while there during the last decade, condos overtook co-ops as the preferred housing choice, maybe due to looser mortgages or just the simple ubiquity of all those gleaming, new towers. This reporter recalls offhand a study done by The Real Deal magazine that showed more than 9,000 condos proposed for Manhattan in 2005 alone—and most of them subsequently got built.
It appears, though, that the dowager has risen.
Here it is, the record-setting Tribeca penthouse. Can it turn a 50% investment?
The Prudential Douglas Elliman listing says it was designed to “provide maxium exposure,” which makes sense since this $45 million Tribeca penthouse is quite literally a giant glass box on top of a building.
The 7,493 square foot property Read More
The Prudential Douglas Elliman listing for this $29,000 a month loft calls it the “perfect home ” with “soaring ceilings, exposed brick and numerous windows” making it perfect for “a couple, a large family or even the ultimate bachelor/ette.”
So basically anyone with $29,900 a month to drop on an apartment.
The rest Read More
You better get on this Douglas Elliman listing, and fast, if you still want to pay $34.5 million for it. What with it’s location atop Trump World Tower, the price should start climbing higher as time goes on. The Donald’s got a presidential race to run, for chrissakes, and they cost money!
The Read More
If you’ve got $3.3 million and want to move to one of the hotter neighborhoods in the city, Douglas Elliman has got you covered with this ultra-modern condo on Broad Street in the Financial Distri…err…FiDi.
The condo features two bedrooms, two bathrooms, 1,000 square feet of outdoors space and, if the pictures are Read More
When some listings mention a library, they’re really talking about an office with a really huge bookshelf, but when this Prudential Douglas Elliman offering talks about a library, they mean a freaking library.
The $6.2 million, 2,900-square-foot Soho condo features 15-foot ceilings, four bedrooms, three bathrooms and that “huge regal” library, which we really Read More
This $3.7 million condo in Gramercy, listed over at Prudential Douglas Elliman, was recently Metro Residential’s Home of the Week. And, honestly who doesn’t want to live in the Home of the Week?
The property’s 2,500 square feet of space includes two bedrooms and 2.5 bathrooms wrapped up in a townhouse package. Read More