Friday, May 16, 2014

$2500 - 1BR/1BA Apartment - 215 East 88th Street, New York, NY 10128, USA

 New Exclusive Rental on the Upper East Side - $2,500

Sunny, Large 1 bedroom apartment in the 80's right off 3rd Avenue. The apartment is on the 2nd floor and features

- High ceilings
- A Separate Windowed Eat-In Kitchen w/ a Dishwasher
- White Tiled Bathroom
- Hardwood Floors Throughout
- Laundry on-site
- Close to the 4, 5, & 6 trains (86th Street Express Stop)
- Great Location: Close to Shops, Supermarkets (i.e. Fairway), Central Park, Museums  (i.e. The Guggenheim), Bars, Restaurants and more Contact Ivie To Schedule A Private Viewing Today!

Thursday, April 24, 2014

Brooklyn is becoming the new Manhattan because everyone wants to move to Brooklyn....

I have clients who ask if Brooklyn is still cheaper than Manhattan and for years the answer was yes. People moved to Brooklyn for better prices and more space but now due to everyone finding Brooklyn desirable, the price gap between apartments in Brooklyn and Manhattan barely exists and the "it" neighborhoods in Brooklyn are becoming as expensive as Manhattan. The most expensive NYC apartments can now be found in neighborhoods like DUMBO and Williamsburg.

According to Stephen J. Smith of NextCity, rents grew the fastest in Brooklyn. Average monthly rent rose by 77% during the Bloomberg years, besting the 65% growth in Manhattan and the Bronx.

Below is a graph with showing the rents over the years. (Courtesy of Quartz)

Saturday, April 5, 2014

Q1 Manhattan Sales Report: Low Inventory, Higher Prices and Higher Absorption Rates

A Quick Look at Manhattan Market 
Q1 Report:

The sales inventory in Manhattan dropped to a 6 year low in the first quarter of 2014 leading to price surges with higher absorption rates*. Some quick facts courtesy of Streeteasy:

Median Recorded Sale Price increased to $900,000 in Q1 2014, up 6.5% since last quarter and 16.9% year-over-year.

Total Inventory fell 13.0% since Q1 2013 and by 1.0% compared to the previous quarter. This is the lowest inventory level since Q4 2007.

Contract Activity decreased by 9.3 percent since Q4 2013, and 15.2 percent year-over-year.

Time on Market was 89 days on average in Q1 2014, a 35.2% decrease compared to 137 days last year and the lowest average since StreetEasy began tracking this data in 1995.

StreetEasy Condo Market Index for February 2014 increased by 2.6% since January and by 16.3% since February 2013. The index is currently at its all-time high.

For a detailed report, please visit: Q1 Streeteasy Manhattan Market Report

*The rate at which homes sell in an area; the higher the absorption rate, the faster homes are selling