The last time I was thinking about 200 East 79th street before 2 months ago, it was preparing for construction- the part of the work that seems endless, producing nothing, as the crews create the foundation- I was across the street at 201 East 79th, an established cooperative building- Many owners there were more than
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Our team has been busy this month viewing new development with buyers. There are two projects in particular which have garnered some attention. Both benefit from an utter lack of inventory- which I’ll cover in my broader discussion. We’ll chat about 141 East 88th street (Part I) and 200 East 79th Street (Part II). The
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I was lucky enough to run my 11th marathon this past weekend in Minneapolis (translation: Cloudy Water, for those who didn’t know). A gorgeous town before the snow hits, with neighborhoods that are built around lovely lakes.   And as I head to Boston while I’m writing this for a conference, I’ve got the “Love
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There is no better way to understand your clients’ adventures with lenders than to be a borrower yourself. I took that to heart this month as I closed a refinance on an investment property. My learnings, especially compared to the perspective of purchasing investment property in 2006-2007, were as interesting as they were frustrating. This
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On the 13th, the Federal Reserve announced that they would continue buying Mortgage-Backed Securities in the amount of $40 BILLION per month. This policy apparently will be in place for some time to come. This policy directly impacts development, the condo market in NYC, and what’s available to buyers in terms of mortgage rates. Without
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I’ll recount a short conversation with a top-producing broker in my office this week, after seeing his gorgeous apartment listing on Riverside Drive. “Are you having trouble convincing owners to sell their larger apartments?” “Well, there’s nowhere for them to move into, so yes. There are not enough huge apartments.” The conversation continued talking about
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Thank you for stopping by! I visited a few new developments this past month, excited to see what new inventory is to offer discerning buyers interested in owning in Manhattan. Certainly it’s timely to discuss both what is showing now, and what is on the horizon. Specifically, I’m interested in whether buyers are paying more
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Here is the link to this report: The main takeaways are that jobs have been added (even though some were lost in different places), and that construction permits have been picking up steam. We should see many new projects breaking ground over the next 6-12 months.
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So we were discussing the possible motivators at the high end. Clearly, the sales which have recently recorded, or units gone into contract have motivated some sellers to list. For example, we have a combination at 502 Park; an absurd price at 50 Central Park South, given the Steve Wynn purchase recently; Lots of great
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Something I wrote a few days ago- If I were to sum up the Real Estate Market in few words, I would say “Summer? What Summer?” I meant that despite this being the hottest summer on record, the market seems to have continued apace. Now that we’re in August, I’m not sure that’s exactly true,
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