PropertyShark BlogCenter » new york city

Multi-Housing News discovers “What Renters Want” in New York City

brian — Tue, 31 Aug 2010 09:53:47 +0000

Multi-Housing News hit the streets of New York City last week to find out “What Renters Want” in New York City through a series of interviews.

Here is the video:

Subscriptions to Multi-Housing News are free.

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New York City Real Estate Networking

brian — Fri, 13 Feb 2009 20:14:40 +0000

The next PropertyShark.com real estate networking event will be in Manhattan on Monday March 2nd. To control the crowds, this event requires advanced registration and is FREE for current paid subscribers (plus a guest).

You can pay $10 to attend, or subscribe to any of our subscription services and get free admission. (Subscribe first, then RSVP for free admission).

See who has registered and RSVP at http://www.propertyshark.com/mason/rsvp.html.

Connect with over 500 NYC real estate investors, developers, brokers, bankers and appraisers. Find referrals, jobs, and deals!

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Fourth Quarter 2008 Manhattan Residential Sales

brian — Fri, 16 Jan 2009 21:16:16 +0000

In conjunction with the the Corcoran Group, PropertyShark.com recently released the Fourth Quarter 2008 Manhattan Residential Sales report.

(You can download the full report from http://propertyshark.com/mason/nyc/home_buyer_resources.html)

Key points taken from the report:

At least 40% fewer sales traded versus the same quarter a year ago. However, the median price still grew by 3% and average price per square foot grew by 5%, largely due to the new development market. The resale market saw median price fall 4% and average price per square foot remain the same.
In just a year, inventory has increased by nearly one-third. In December, inventory experienced a marginal decline as some for-sale units were pulled off the market by sellers. In response to the increased inventory, sellers were compelled to readjust their price expectations. (To see the inventory, you can browse a comprehensive list of Manhattan properties for sale at http://www.propertyshark.com/mason/RFS/listings.html)

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Q3 Multifamily Property Report

brian — Thu, 18 Dec 2008 21:48:13 +0000

In our Q3 Investment Property Report, we see that in New York City, the number of closed transactions and the median sale price hit two year lows, yet some boroughs did better than others. Manhattan experienced a substantial quarterly increase in the dollar volume, passing $1.1 billion, even with the number of closed deals dropping. The Bronx had its largest multifamily sale ($67.7 million) in at least 5 years, despite two-year lows in both the number of sales and in the price indicators, while Staten Island had more sales
than in the previous two quarters despite a major drop in median prices. Queens and Brooklyn both had a significant decrease in the number of sales, while median prices in Brooklyn declined by 2% and median prices in Queens fell 12% compared to Q3 2007.

Multi-Unit Property Sales in Queens and Brooklyn

Transactions surge in Los Angeles as distressed properties flood the market: Los Angeles was the only city among the three in the report that had an increase in the number of sales compared to both Q3 2007 and Q2 2008. However, the increase in transactions was driven by the large number of distressed properties (trustee sales, notices of default or REO’s) in the market, predominantly in the 2-4 family building classes. Fifty four percent of all properties that sold in the third quarter of 2008 were in distress this year.

Los Angeles Multifamily Property Transactions

However, the median price per unit for Multifamily properties has been in free fall since Q4 2006.

Los Angeled Multifamily Property Price Per Unit

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