Last week, New York YIMBY published two articles concerning the Census Bureau's estimates for 2014 and revised numbers for 2013. Some highlights of the articles as as follows: "If the latest Census estimate is indeed accurate, New York City is probably over 8.5 million people as of today. With the urban renaissance now in full swing across wide swaths of the city, development pressure will continue to...
Market News
Crain's reports today that Democrats in New Jersey's State Senate have called upon the Port Authority to sell its real estate, including the iconic One World Trade Center. I couldn't agree more, especially given that we are at a time in history where commercial real estate values have hit an unprecedented high and regional transportation infrastructure is either woefully inadequate or operating above...
July 2003 – Sold for $3,044,786 March 2015 – Listed for $11,995,000 This week’s Digs Watch takes us back to the Upper West Side, where a curious example of a seller (or their broker) trying to jump on the billionaire bandwagon is taking shape. After nearly 12 years, the owners of PH3A at 220 Riverside Boulevard have put the condo on the market trying for a nearly 400% return by listing it at...
If You Build it, They Will Come...But How Will They Get To Red Hook? Red Hook, the sleepy enclave of large warehouses, industrial buildings and housing projects situated on the western side of the BQE, southwest of Brooklyn’s vibrant Carroll Gardens neighborhood, is back in the news this week as Estate Four, a Los Angeles-based developer, announced plans to transform a 12-acre expanse on the Red Hook...
Brooklyn Brownstones 2009 – 11 Brooklyn townhouses sold for over $3MM 2014 – 98 Brooklyn townhouses sold for over $3MM This week’s Digs Watch takes us back to Brooklyn for a look at the bananas townhouse market. Just how bananas is it, do you ask? Well, according to a new report from Brooklyn-based brokerage Ideal Properties Group, townhouse sales in Brownstone Brooklyn* reaching the majestic...
October, 2004 – Sold $575,000 May, 2007 – Sold $650,000 November, 2009 – Sold $865,000 December, 2014 – Listed $1,850,000 This week’s Digs Watch takes us to the Spencer Arms, a building located in the prime Lincoln Square area of the Upper West Side. Built in 1903, this former hotel was converted to co-ops in 1986, and has retained much of its gorgeous exterior pre-war features. Recently put up...