Here’s a roundup of top NYC real estate stories from around the web for the month of May 2023. Click here to view the previous round up.  Manhattan Rents Hit New Records for the Second Month in a Row and Many Tenants Are Staying Put (Brick Underground) Home Buyers Are Eager but Sellers Are Scarce, Creating ‘Real Gridlock’ (NY Times) Cash Buyers Claim Record Share of NYC’s Housing Market (The Real Deal) Commercial Real Estate Brokers’ Confidence Sinks To All-Time Low (BisNow) Here’s a Sneak Peek of Century 21 NYC’s Flagship Store (Time Out New York)      And if you ..read more

How Much Does It Cost to Own a Studio in NYC? (May 2023) Welcome back to “How Much Does It Cost to Own”! Each month, we’ll be looking at different sized apartments to get a sense of what the “median” apartment in either Manhattan or Brooklyn currently costs. This series should give you an idea of whether or not you’re in the “ballpark” for the kind of apartment you might want!  Keep in mind that these figures represent the median for all building types. So coops, condos, walkups, elevators, doorman and non-doorman, amenities, low amenities – they’re all looped in together.  So let’s ..read more

April 2023 NYC Monthly Sales Market Update It’s time for the NYC monthly sales market update! Here’s a look at some key numbers for April 2023 in Manhattan and Brooklyn.  To view the full NYC sales market monthly update for April 2023, click here. And to view stats for the previous month, click here.  Key Points Banking failures, higher interest rates and spring holidays took their toll on sales in Manhattan during the month of April. Signed contracts were down 37% compared to 2022 and down 18% compared to the previous month. The latter was surprising, given that we typically see an ..read more

How Much Does It Cost to Own a 3 Bedroom in NYC? (Apr 2023) Welcome back to my series “How Much Does It Cost to Own”! Each month, we’ll be looking at different sized apartments to get a sense of what the “median” apartment in either Manhattan or Brooklyn would cost. Over time, as we loop through each property type, we’ll start to be able to see if prices are trending upwards or downwards. But most importantly, this series should give you an idea of whether or not you’re in the “ballpark” for the kind of apartment you might want!  Keep in mind that these figures represent the median for al ..read more

Top NYC Real Estate News April 2023 Here’s a roundup of top NYC real estate stories from around the web for the month of April 2023. Click here to view the previous round up.  A ‘Maddening’ Brooklyn Market: Slower Sales Don’t Put a Dent in Prices (Brick Underground)  NYC Rents Make History In March With Skyrocketing Prices: Study  (Patch NYC) Manhattan Real Estate Sales Plunge 38%, But Cash Deals Hit All-Time Record (CNBC)  Financial Challenges ‘Clobber’ New York City’s Office Landlords (NY Times) NYC’s SummerStage Concert Series Just Released Its Official Line-Up (Time Out ..read more

NYC Rental Market Update March 2023 Here’s a quick snapshot of the NYC rental market for March 2023, with a focus on Manhattan and Brooklyn. You can view stats from the previous month here.  Note that the areas for “best deals” are determined by a combination of vacancy rates and/or areas with price declines (or lowest price increases, in the event of a rising market) across the most categories of apartment types. Keep in mind that “best deals” doesn’t necessarily mean “cheapest.” It just means places where you’re more likely to have some bargaining power.  Summary Lease signings we ..read more

March 2023 NYC Monthly Sales Market Update It’s time for the NYC monthly sales market update! Here’s a look at some key numbers for March 2023 in Manhattan and Brooklyn.  To view the full NYC sales market monthly update for March 2023, click here. And to view stats for the previous month, click here.  Key Points While year over year sales continued to be down (to the tune of 30%), March saw a continued trend of increased month over month activity. Signed contracts were up by 27% compared to February.  Prices might be showing some signs of stabilization. They were virtually flat ..read more

How Much Does It Cost to Own a 2 Bedroom in NYC? (March 2023) Welcome back to my series “How Much Does It Cost to Own”! Each month, we’ll be looking at different sized apartments to get a sense of what the “median” apartment in either Manhattan or Brooklyn would cost. Over time, as we loop through each property type, we’ll start to be able to see if prices are trending upwards or downwards. But most importantly, this series should give you an idea of whether or not you’re in the “ballpark” for the kind of apartment you might want!  Keep in mind that these figures represent the median for ..read more

Top NYC Real Estate News March 2023 Here’s a roundup of top NYC real estate stories from around the web for the month of March 2023. Click here to view the previous round up.  Mortgage Rates Tumble in the Wake of Bank Failures (CNBC)  Gap Widens Between Manhattan and Brooklyn Median Rents as Demand for Luxury Rentals Surges (Brick Underground)   New York City Luxury Real Estate Is Now More Expensive Than London Prime Market (Bloomberg) Weak Economy Could Help NYC Real Estate Brokers (The Real Deal)  See the Brand-New Giant Button Sculpture Just Unveiled in the Garment ..read more

NYC Rental Market Update February 2023 Here’s a quick snapshot of the NYC rental market for February 2023, with a focus on Manhattan and Brooklyn. You can view stats from the previous month here.  Note that the areas for “best deals” are determined by a combination of vacancy rates and/or areas with price declines (or lowest price increases, in the event of a rising market) across the most categories of apartment types. Keep in mind that “best deals” doesn’t necessarily mean “cheapest.” It just means places where you’re more likely to have some bargaining power.  Summary Although le ..read more