Articles on Manhattan real estate. Read distressed properties stats, market trends, neighborhood spotlights and more.
In our previous blog post called See Past the LLC: 3 Ways to Unmask the Real Owner of an NYC Property, we talked about the three easiest ways to find out the real name of a property owner. As promised, here’s a follow-up to that article, detailing three alternative ways to get behind an LLC:
Our sister company, Point2Homes, has compiled a nifty collection of satellite images that reveal just how radically some major developments have changed a number of iconic NYC sites.
Initially featured as part of an exclusive story in the popular NYC publication Gothamist, these images show how growth and new developments have changed the scenery in the past 5 years. Look for The World Trade Center, Barclay’s Center, The Yankee Stadium, the (before-and-after-Sandy) Rockaway Beach, and a couple more in the latest Point2Homes blog post.
Manhattan is no stranger to big-ticket foreclosure auctions, with properties once valued above the $60 million mark ending up on the foreclosure block. But aside from the inevitable media spectacle they give rise to, very few of these properties are of interest to home buyers and investors as their lien amount generally exceeds their valuation.
After being crowned NYC’s best selling building 2 years in a row, the time has come for Williamsburg’s The Edge to leave its top spot. Q1 2013 brought a new wave of buildings into PropertyShark’s top 10 list of buildings with most units sold, half of them having median sale prices over $1 million.
Upper East Side, which hasn’t been part of the list for a while, is back, with 2 buildings making it into the top 10. Comparing median sale prices for units sold this quarter over the entire last year, one can see that, in general, folks were more willing to pay more money for an apartment in Q1 2013.
One of the (very) early signs that new construction is about to start is that old buildings are being demolished. In New York City, the total number of demolition permits issued in all boroughs has been on an upward trend, although it’s a slow rise.
Last year’s waves of sales at Williamsburg’s splashiest development The Edge crowned the building as the top selling NYC building for the second year in a row.
If in 2011 Dumbo took everyone by surprise, ranking 4th in the top 10 neighborhoods, in 2012 another Brooklyn neighborhood grabbed the spotlight. Boerum Hill climbed to 6th place with a median sale price of $950,000, surpassing well known upper class neighborhoods like the Upper East Side, West Village and ultimately Dumbo.
It’s hard to picture almost any US top-10 list without New York City somewhere in there. The most expensive US zip codes list compiled annually by Forbes Magazine makes no exception. In fact, Upper East Side’s 10065 heads their list this year, securing the coveted #1 for the first time.
But is 10065 indeed the most expensive zip code in New York City, let alone the entire country, as stated in Forbes? PropertyShark data shows it’s not even in the top 5.