Articles on Staten Island real estate. Read distressed properties stats, market trends, neighborhood spotlights and more.
Everyone in real estate knows that public records are not error free. Some more than others claim this happens too often. We won’t go into that debate. What’s undeniable, however, is the growing need for ways to validate data found in public records and to quickly determine whether the information provided is true or false. This post will tell you about those ways and walk you through the process of verifying property data.
What’s the REAL Most Expensive Home in Staten Island?
Staten Island’s luxury home market has some nice figures to show for the 2005-2012 period. Two transactions coming close to $4 million signal that the area, and more specifically the upscale neighborhood Todt Hill, has real estate appeal for the wealthy.
In the boom year of 2007, the 7,582 sqft home on 29 High Point Rd. sold for $3.9 million. Once recession hit, we had to wait until 2011 for a similar transaction: $3.7 million for the 13,155 sqft mansion on 125 Benedict Rd.
NYC renters with “high aspirations” (literally!), we invite you to have a look at our chart of the week, featuring the tallest residential towers in each borough in NYC. Unfortunately, the limit is not really the sky, but somewhere around 870 feet or 76 floors high. In Manhattan, at least.
870 feet is how high NYC’s (and the world’s) tallest residential tower goes. 8 Spruce Street, the Manhattan tower designed by Frank Gehry, boasts 76 floors and 890 residential units to choose from. Just be reminded that the higher you want to go, the more money you’ll have to take out of your pockets for the view—at the end of last year, rents in Gehryland were going as high as $60,000/month.
One in every 6,746 households on Staten Island was scheduled for foreclosure auction for the first time in August 2010. The current number of first time foreclosures (38 properties) is up 90% from the previous month (20 properties) and up 111% from August 2009 (18 properties).
There were 105 new foreclosures in Staten Island in Q2 2010. The current number is down 15% from Q2 2009 (123) but up 5% from Q1 2010 (105). The foreclosure rate was one of the highest in the five boroughs with one in every 1,489 homes scheduled for auction in Q2 2010.
Staten Island is third among the five boroughs of New York City in terms of the rate of foreclosure per household, with one in every 5,690 homes scheduled for auction. Properties scheduled for foreclosure auction for the first time totaled 29 in May 2010, unchanged from May 2009 values, and down 31% compared to April 2010.
In July, Staten Island had 39 new foreclosure auctions scheduled. This is 28% less than in July 2008 but 3% more than in June 2009.
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