Brooklyn: Foreclosures Climb in the East and Home Price Gaps Deepen
Among headlines that crown Brooklyn as one of the most expensive real estate markets in the US and that announce record-breaking sales of luxury properties, PropertyShark’s 2016 foreclosure report revealed quite an intriguing trend: the number of new foreclosures in the borough has been steadily climbing for the past 5 years. We decided to investigate further and…
Top 10 Best-Selling Buildings in NYC 2016
2016 was a great year for some of New York’s largest developers looking to finally cash in on their investments, as several high-profile developments completed construction work and closed a large number of deals initiated in the past 3 years. We took a look at the residential market of 2016 and singled out the developments…
Debra Hoffman from Town Residential: Prices Are Starting to Level Off in the Sales Market
We’re happy to start off 2017 with a new interview in our series! This time, Debra Hoffman from Town Residential shares with us both her assessment of the year that has just ended and her predictions for 2017. Debra believes there’s a lack of inventory in the $1M to $3M sales market, and if priced…
Agent Interview with Diana Kosov: Find the Key Tools for Your Success
Building a real estate career can seem overwhelming, with so much to juggle. You balance a budget, navigate the contract process, research the market and market your business. All this while staying available and flexible to your clients and their needs. PropertyShark partner Leap EDU, premier real estate licensing and continuing education school, offers some insight. They sat…
10 Most Expensive Homes Sold in Brooklyn 2016
Brooklyn’s seemingly never-ending price hikes held course in 2016, particularly in the second half of the year, when the median sale price across all residential properties in the borough hit $650,000. Looking back, several homes in the borough were worth a whole lot of money last year, with some condos and townhouses in northwestern neighborhoods selling at prices one…
Real Estate Pros Say East New York and Bushwick Will Be the Hottest Neighborhoods in 2017
With the perspective of a new year in mind, PropertyShark surveyed its clients, NYC real estate professionals, to find out their market predictions for 2017. Some of the results might come as surprising so read on to find out more. Here are just some of the key findings: According to the pros surveyed, NYC’s most in-demand neighborhoods…
Down Payments in Manhattan Now $500K – Almost Double the Median Sale Price in the US
55% of Manhattanites bought their home all cash in 2016, compared to the national average of 33% The median down payment on a home purchase in Manhattan was $500K, a huge sum to consider when compared to the full price of the average home in the US – $301K  The median down payment for a luxury home…
Top 20 NYC Residential Lenders 2016
Wells Fargo issued the highest number of mortgages this year – 2,081 JP Morgan Chase issued luxury home mortgages for the sum of $414 million The lowest median down payment – 13% – was operated by Homebridge Financial Services In a place like New York, where home prices are sky-high and demand is never lacking, financial institutions get a…
Survey: 56% of NYC Real Estate Pros Say Value in Trump-Branded Buildings Will Not Increase
Will the value of units in Trump-branded buildings rise post-election? The results of a PropertyShark survey indicate that 56% of NYC real estate pros say “No”. President-elect Donald Trump started off as a real estate developer and became even more famous for licensing his name to residential buildings, hotels, casinos and golf courses. Unsurprisingly, the Trump brand…
NYC Multifamily Investments Slow Down in Q3, Manhattan and Brooklyn See Losses
The market for NYC multifamily properties took a hit last quarter, as investor trust seems to be dwindling. According to a recent report by Ariel Property Advisors, the number of buildings purchased between July and September was down 22% Y-o-Y, and 10% since the previous quarter! 284 buildings were sold in 178 transactions, for a…
How Many Billionaires Does It Take to Buy Manhattan?
We enjoy poring over the latest issue of Forbes’ World Billionaires List as much as the next person, watching the billions stack up every year, but have you ever realistically considered what that kind of money could actually mean? We just did. And being in the business we’re in, we decided to count the dollars…
Top 10 NYC Best-Selling Buildings Q3 2016
A sculptural tower in TriBeCa takes over the number one spot as NYC’s best-selling building last quarter. Although in our Q1 and mid-year Top 10 lists Carnegie Park in UES reigned supreme, with by far the highest number of recorded sales, in Q3 the newish development at 56 Leonard Street became the best-selling building in…
Real Estate Is at the Heart of the Second Harlem Renaissance
A second Harlem Renaissance is underway, this time driven by an influx of money and a middle class population eager to escape the hectic life and ridiculous housing prices in the rest of Manhattan. So we decided to take a look at what the neighborhood has to offer in terms of homes and single out…
Top 20 NYC New Projects Proposed So Far in 2016
The city is ablaze with new developments in what’s been called by Forbes the best time to be a real estate developer since 2007. The level of investment opportunity in Queens has attracted the spotlight, and in the first 7 months of 2016, the total square footage of proposed development space counted over 3.5M square feet, almost…
The Fabulous Upper West Side Real Estate Story
To take away: the most expensive home ever sold here was a penthouse fit for a king: price paid – $88M! the largest home is a century-old 11,500-square-foot mansion next to Riverside Park the UWS is one of the neighborhoods with the most permanent residences, percentage-wise: only 55% of all housing units are rentals , a…
Long Island City Real Estate: Old Is Cool, New Is Better
To cut things short, if there’s one thing to take away about real estate in Long Island City, it’s actually four: great-looking glass towers are popping up everywhere, favoring comparison between the Hunters Point waterfront and that of Western Brooklyn; however, the priciest home ever sold here, for $3.4M, is significantly cheaper than its equivalent in Williamsburg,…
Top 10 Best-Selling Buildings in Brooklyn Mid-Year 2016
So maybe Manhattan does dominate every single top ten best-selling list covering the 5 boroughs, but exciting new developments and older, yet successful residential projects are everywhere in New York. In particular, Brooklyn, the second real estate market of the city, has a lot to show for itself, in terms of both realty investment and the steady climb…
Top 10 Best-Selling NYC Buildings Mid-Year 2016
At the peak of the real estate season, it’s a good time to take a look back at the first half of 2016 and see which NYC new developments and older constructions across the five boroughs have fared the best. In a market that continues to show healthy yearly growth rates and to favor sellers, according to the…
5 Tips for Marketing Your Commercial Listings
It’s a tough market out there for commercial property professionals: NYC rents for commercial properties have flattened out during the first half of 2016, after a long period of sustained growth. In spite of a 10% availability rate in Manhattan office space, according to Colliers, prices remain high enough that a mainstream of businesses are…
A Close-up of NYC’s West Village Home Market
Long known for its historical homes and artistic spirit, the West Village is now the epitome of gentrification: trendy weekend crowds and excited tourists pack the streets where Kerouac once drunkenly roamed. Meanwhile, the area’s established residents who are willing to sell or rent capitalize on the desire of well-to-do New Yorkers to live in…
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