The expectation and predictions in this blog have been that when mortgage rates and inventory increase, the market and price appreciation will both slow down, allowing for a bit of a healthy landing of some sort. But making predictions in this moment feels like trying to determine how long this ridiculous New York City winter
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As I mentioned in last month’s overview, I expected 2014 to be the best year yet for my firm, Brown Harris Stevens. That was indeed the case: the firm sold $4.2 billion in Real Estate during the year, which was 7% higher than in 2013, with only 3% of the agents working in New York
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Two sales offices opened recently, and I was lucky enough to visit both just as they were coming out of the gate with their marketing. First, the Chatsworth, 344 West 72nd Street, is a new prewar rental-to-coop development (more on the coop bit later), by HFZ, one of the busiest developers at the moment. The
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This is the extension of our run over the George Washington Bridge. Just a quick guide to how to add another 2-3 miles to your run in New Jersey without getting run over. You will have some challenging hills on the way back, but that shouldn’t be a surprise – what goes down must come
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As I discussed in my new development post – 2014 was a year in which the divergence between new development and the resale market was wide enough that breaking apart their sales numbers makes sense. When three bedroom and larger condominium sales appear to be up 31% year over year vs. 7% for coops, there’s
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Over 2014, my firm’s chief economist felt a growing divergence between new development sales and the resales of condos and cooperatives, in terms of new development sales skewing closing information, both in being averaged into all other sales, and because of the delays between signed contracts and closings. Our monthly and quarterly reports now reflect
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Sometimes buyers want to understand what they are getting into when buying a cooperative. They have to get “approved” by a cooperative. What does this mean? Just like in a country club, a membership committee reviews your entire financial and personal lives, and decides if you are worthy of moving into its established community. You
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I had the pleasure of seeing a number of new developments in the past few weeks, too many to cover in one blog post. Today, I’ll cover 498 West End and 45 East 22nd Street, incredibly different properties, but not necessarily appealing to different buyers. Both are in prime locations, 84th and West End, and
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To those of you who read my monthly running posts, I just want to thank you for letting me share them. If I have inspired anyone to run somewhere he or she would not have considered running before, I would consider the time very much worthwhile! I will, of course, continue to explore different areas
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Our office at Brown Harris Stevens is poised to have its best year ever, possibly, exceeding the really robust numbers of 2012. The questions that loom behind the strong numbers of any quarter, or any market rally like one we’ve seen since the 4th quarter of 2009, are those that ask: How strong is the
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