We are thrilled to announce that Marketproof has expanded the scope of Marketproof New Development to provide an even more comprehensive solution for NYC real estate professionals. The new solution is called Marketproof Pro. Marketproof New Development has quickly become the definitive solution for real estate professionals focused on the NYC new development market. Marketproof Pro expands to include resale properties, enabling more professionals to take advantage of Marketproof’s game-changing capabilities. For Marketproof Pro, building and listing information is just the starting point. Pro ..read more

We are excited to announce the addition of verified lenders and loan originators to Marketproof New Development & Condo. This represents one more step in our mission to make NYC real estate data and information visible and actionable, For residential sales in NYC, Marketproof extracts the names of the lenders as well as the names of individuals who originated the loans from ACRIS mortgage documents. This information is available for both resales and new development sales. Top lenders & loan officers Lender information is organized by building, showing you who the leading lenders and l ..read more

The value proposition of Long Island City’s The Greene is clear: Manhattan-level luxury, aesthetics, and convenience at a discount.  Apparently, the consumer enthusiastically agrees, as evidenced by the fact that the project is one of the best-selling buildings of 2023. Amenities are offered across three distinct levels, with each creating both indoor and outdoor experiences.  An enviable private park that doubles as the building’s entrance leads to a double-height lobby and private parking.  Above are the lounge, fitness center, playroom, game room, and terrace.  ..read more

Mortgage loan officers work for banks, credit unions, or mortgage companies, and assist borrowers with obtaining a mortgage to finance the purchase or refinancing of a home or other real estate. This post outlines their main responsibilities. Understanding loan types To start, mortgage loan officers help borrowers understand the different types of mortgage loans available to them. This includes fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, and government-backed loans. They may help to explain the benefits and drawbacks of each type of loan and help borrowers determine which ty ..read more

212 Fifth Avenue is an almost exclusively owner-occupied building at the nexus of the famous street and coveted Madison Square Park.  Because the building offers neither studio nor 1-bedroom units – that are often purchased and then leased out – only a dozen residences have ever been marketed for lease and 86%of original buyers still own their units. Jeff Bezos NYC Apartment That privacy afforded by infrequent turnover among the building’s 43 residences may have attracted then-Amazon CEO Jeff Bezos to the development, resulting in a 5-unit, $119M assemblage ..read more

When New York City developer, the Naftali Group, commissioned Robert A. M. Stern Architects to design The Bellemont, a boutique ten-unit, limestone-clad condo on the Upper East Side corner of Madison Avenue and 86th St in Manhattan, the first chapter of a $220M success story had been written. One block from Central Park, the Bellemont’s residences offer five bedrooms and an incredible 5,264 square feet of luxuriously appointed living space designed by Achille Salvagni, who is known for his interior designs – and yachts. But how have sales gone in this upper-echelon building, where the price ..read more

Since the first Manhattan condo was launched in 1965, nearly 3,000 condos have been developed with 115,000 units. Before condos, though, Manhattan was filled up with co-ops. You might expect that condo sales would have overtaken co-op sales by now. In this post, we’ll explain why this hasn’t happened. The answer may surprise you. Sales by Property Type First, let’s look at the sales over the last eight years. In the chart below, each bar shows one month’s sales. The sales for each property type are stacked on top of the other so that the bar represents 100% of sales. Click to expand the char ..read more

Everything is a story at Walker Tower – the prices, the residences, and the headlines. The building was developed by JDS Development Group and is located in Chelsea at 212 West 18th Street. Contracts were signed between Q2-2012 and Q4-2014 when the average price per square foot for a Chelsea condo was $1,511. But prices within the tower were more typical of Central Park, averaging $3,474 price per square foot and $11.5M, and layouts more closely resembled Tribeca lofts, offering, on average, an unprecedented 3,060 square feet of living space.  The sponsor realized the demand for super-s ..read more

A condo offering plan is a disclosure document that lays out the terms under which a sponsor, that is, the owner of the property, can sell you a condo (or parking space or storage bin). Attorneys who specialize in this area write offering plans. A small group of law firms writes most of the plans in NYC. The plan is generally several hundred pages long, as, in addition to including information about the building and the properties the sponsor is selling, it includes hundreds of pages of state law-mandated legal disclosures and disclosures that protect the sponsor if something goes wrong. You ..read more

Bulk condo buying strategies evolve over the life cycle of a new condo development. As the developer sells more units, they face different incentives when it comes to negotiating with buyers. In this article, we outline the benefits for bulk buyers and condo developers at each of the major stages of a condo project’s life cycle. Every milestone provides a new opportunity for deal making. Before offering declared effective (0-15%) A condo declaration can be recorded when the sponsor has sold 15% of the units. Before this milestone, the risk is the highest, and the buyer can likely get the high ..read more