East Village Two Bedroom Apartment – NO FEE / OWNER PAYS
Please call JAD Realty Group for further details:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
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East Village Two Bedroom Apartment – NO FEE / OWNER PAYS
Please call JAD Realty Group for further details:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
One year ago, a duplex penthouse at 43 Wooster Street was listed at $12.5 million. Now, the 2,600-square-foot unit is on the market for $5.9 million. The two-bedroom, two-bath apartment suffered two price reductions in the last week, down to $6.995 million and then finally, to $5.9 million. The owners bought the penthouse for $4.171 million in 2006.
43 Wooster Street
The number of apartments that went into contract or had accepted offers in Manhattan in October fell 20 percent from September, and declined 62 percent compared to October 2007, according to the Corcoran Group. The number of listings in Manhattan rose 33 percent in October compared to the same time last year, according to Miller Samuel. Jonathan Miller, president of Miller Samuel, said because of the lag time between contract signings and apartment closings, about 45 days, sales figures won’t reflect the price decline in the market until the first quarter of next year.
Barbara Corcoran, founder of the Corcoran Group, said in 2010, when the real estate market bounces back, “everyone will look back and say, ‘Why didn’t I buy then?’” Corcoran, founder of the Corcoran Group, said softening housing prices are scaring away buyers who are waiting for prices to fall even more, when they could be finding a good deal right now.
In October, there was 4.4 million-square-feet of sublease space in midtown Class A properties available, which made up 28.2 percent of all available Class A space in the area. In 2007, sublease space in midtown made up 29 percent of available space. James Delmonte, a vice president and director of research at Jones Lang LaSalle, said as vacancy increases, more sublease space will become available and there will be more sublease space available next year.
REDUCED PRICE – East Village Two Bedroom Rental Available NOW
Contact JAD Realty Group for showing times:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
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REDUCED PRICE – East Village Two Bedroom Rental Available NOW
Contact JAD Realty Group for showing times:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
Gramercy Park / Union Square Rent Stabilized One Bedroom Rental
Contact JAD Realty Group for showing times:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
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Gramercy Park / Union Square Rent Stabilized One Bedroom Rental
Contact JAD Realty Group for showing times:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
Upper East Side – 2nd Avenue & East 91st Street Retail Available
Contact JAD Realty Group for showing times:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
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Upper East Side One Bedroom Rental with Home Office
Please contact JAD Realty Group for a showing schedule:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
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Upper East Side One Bedroom Rental with Home Office
Please contact JAD Realty Group for a showing schedule:
Jeffrey Ditri
mobile: 610.781.8417
email: jeffrey@jadrealtygroup.com
Closed transactions in Brooklyn and Queens by quarter. Source: PropertyShark.
Price cuts hit the Manhattan multi-family market hard last quarter, according to a new report covering residential investment properties released by real estate analysis company PropertyShark.
While the median sales price for an apartment building fell 11.2 percent from the prior year quarter, the median price for each unit fell by 17.5 percent over the same period, the data released today showed.
At the same time, building sales volume, median sales price per building and median sales price per unit all declined citywide, according to the report, which examined multi-family sales greater than $10,000 in the five boroughs, but did not include package deals.
“The takeaway is that Manhattan is not immune, something everyone has been saying all along,” said Bill Staniford, CEO of PropertyShark. “I think we have seen a very significant run-up in pricing — a bubble — that will need a correction.”
In the five boroughs, building sales volume dropped 23 percent to 3,039 transactions; the median sales price per building dropped 9.1 percent to $590,000; and the median sales price per unit fell 8.1 percent to $245,000, the data showed.
Manhattan’s 17.5 percent drop in the third quarter to $283,430 when compared to the third-quarter 2007 was the steepest among the five boroughs, a sign that the credit crunch and general economic weakness have finally started to affect Manhattan, Staniford said. The outer boroughs saw more dramatic prices drops in earlier quarters, and he expects further price reductions throughout the city in the fourth quarter.
Between July and September, the median price per unit in Brooklyn was $250,000, down 4.8 percent from the same period last year. In Queens, the median price was $264,285, down 9.6 percent year-over-year; in the Bronx it was $200,000, down 5.9 percent; and in Staten Island it was $215,000, down 15.4 percent, the report showed.
The number of sales in Manhattan fell by 36.2 percent from a year earlier to 132 sales, while in Brooklyn it dropped 24.7 percent to 1,189. In Queens the number of sales fell 16.3 percent to 1,107; in the Bronx it fell 27.4 percent to 374; and in Staten Island it was down 27.1 percent to 237 buildings, the data showed.
Preferential Rent Price – Limited time only
