Don’t Be Afraid To Walk Away

It’s Friday desk clearing time for this blogger. “The Manhattan residential real estate market cooled in the third quarter ... . Despite the economic uncertainty, real estate advisors say the city is well-positioned for the changes ... the crisis began in 2007, many investors and real estate executives expected a ‘correction’ [more...]

Date: 2008-10-03 19:40:32

Blog posts (628) | Videos (197)
 

Brown Harris vs Brown Harris / 25% drop in coop value at the top already??

too weird to avoid I just saw this story from an ABC News blog, plugging a 20/20 interview tonight (hat tip to Curbed.com) by one of THE top top-end agents in Manhattan. Yes, agents (and Manhattan real estate firm ... (no quote in the article) that "Manhattan's finest co-op apartments may have already lost a fourth [more...]

Date: 2008-09-19 19:10:00

Selling Real Estate vs. Pulling Teeth

It's no secret that buyer psychology has shifted to a more cautious perspective in light of the recent economic developments ... are 4 obstacles that I'm facing in today's Manhattan real estate marketplace: Qualified Buyers ... . Although I remain busy, I must state that selling real estate in today's market is often [more...]

Date: 2008-10-02 14:55:03

Wall Street Debacle Will Have Ramifications for Manhattan Housing

158 year old Lehman Brothers has declared bankruptcy. Merrill Lynch has been scooped up in the nick of time by Bank of America ... from Greenspan's "easy money" mortgage days is finally going to have an effect on the Manhattan real estate ... opportunities. So for those of you who earn your living selling residential real estate [more...]

Date: 2008-09-15 14:44:10

Standard & Poor Lower Ratings For Stuyvesant Town and Peter Cooper Bonds

Tishman Speyer Properties is in a pickle. After making the biggest real estate deal ever when it purchased Peter Cooper Village and Stuyvesant Town ... s greatest real estate boondoggle? MetLife is looking very smart right now getting this price and getting out of a Manhattan real estate market that is heading south. And there was an immediate [more...]

Date: 2008-10-01 12:42:07

Sunday Real Estate Round-Up, 12/07/08

Sunday Real Estate Round-Up, 12/07/08 Posted by: in Real Estate News Filed under: Estates, Celebrity Shopping From Berg Properties Big Time Listings: –Actress Rebecca Broussard, who dated ... Michelle Hurd have paid $1.35 million for a one-bedroom unit in Manhattan’s Riverhouse development [more...]

Date: 2008-12-07 15:44:57

Are Asking Prices Holding Firm in the Hamptons?

October 24, 2008 in Area Real Estate, Beach Properties, East Hampton, Hot Property, Resort Real Estate, Southampton | Tags: Hamptons, holding firm, reduced asking prices Values, for the most part have held up fairly well, here in the Hamptons (and Manhattan) during this recent national real estate market meltdown [more...]

Date: 2008-10-24 17:23:11

Sellers Seek Experienced and Committed Agents

The most common question I'm currently being asked by owners seeking to sell their Manhattan homes is "how long have you been doing this? ... to take place across all segments of the Manhattan real estate market, the pace has definitely slowed ... to further support what they already know...it's shaky. I became a real estate agent in the early 90 [more...]

Date: 2008-07-11 16:28:48

A Brave New World in Manhattan Real Estate

Yes I'm still alive! Just in case you were wondering ... market dynamics that make up today's very challenging real estate environment. A greater amount of time ... market, the greatest challenge for a real estate agent remains pricing. In fact, it has become [more...]

Date: 2008-10-21 15:57:48

This Isn’t An Aberrant Market, It Is The Market

A report from Crains New York. “Manhattan’s residential real estate market frenzy is fizzling ... said.” “‘Real estate markets go up and down ... inventory surged 31% to 6,194 units.” “Brokers say the fall off in prices from the first quarter isn’ [more...]

Date: 2008-07-02 14:35:05

Current Real Estate Market Requires More Patience

If you're one of the few sellers out there who has such a uniquely special (is that redundant?) ... of you, patience is perhaps the most important quality that you must exhibit in today's bizarre Manhattan real ... of Manhattan's micro-markets. Apartment size, style, and geographical location serve to divide Manhattan real [more...]

Date: 2008-08-21 16:44:51

More Fair Housing Education Needed...Desperately!

After selling Manhattan real estate for 16 years, there is very little that shocks me ... that there has not been enough emphasis put on educating certain members of the real estate community ... and she and her life-partner will use the apartment when visiting Manhattan instead of dropping a fortune on a hotel [more...]

Date: 2008-08-08 17:41:03

Media Hops on 'Rate Cut' Wagon

A: Last post, I promise. Also, I will get back to posting on Manhattan real estate when I get back to work after my vacation; I needed some time of from real estate after sealing all my deals and selling my exclusive listings. So, don't worry to those who were disappointed with the main focus being on the credit crisis [more...]

Date: 2008-09-10 22:36:56

Making Sense of Manhattan Real Estate

The Bailout plan has been rejected (via WSJ) and it's no surprise that the stock market has plummeted on the news. So why am I still so busy? ... environment that I have experienced in my 16 years in the Manhattan real estate industry [more...]

Date: 2008-09-29 19:34:47

One Brooklyn Bridge Sign of New York City Real Estate Woes

One Brooklyn Bridge, the condo development that has magnificent Manhattan views is facing a rough time ... when real estate entrepreneur Elizabeth Stribling agreed in March to pay $6.05 million to live ... . If you would like to see more articles like this, please come visit The Real Estate Bloggers. where [more...]

Date: 2008-11-03 18:09:41

Offers Being Made and Contracts Being Signed

In the past week, I have received a few emails and comments from readers questioning my credibility purely because I refused to panic and spew ... face of the investment banking industry will have an impact on Manhattan real estate and perhaps even ... , athletes, and the like are still choosing to make Manhattan their home. Here's just a snapshot [more...]

Date: 2008-09-19 15:25:35

The Two Faces of Residential Real Estate

I'm two-faced! That's right, I said it. But now let me explain. In today's very bizarre world of Manhattan real estate where everyone is trying to make sense ... on whom I'm representing in a transaction. For my sellers, I am careful to price their homes fairly [more...]

Date: 2008-10-28 15:21:08

Nobody Thinks It’s A Real Recovery In California

USA Today reports from California. “Ramona Garcia of Corona, Calif ... , a Manhattan Beach, California-based real estate agent who helps professional athletes relocate.” “‘You’ve ... . Garcia and her husband, Dominic, both real estate agents, saw their business crash as the local [more...]

Date: 2008-07-09 22:40:23

MTA: No fare hikes or service cuts!

The Metropolitan Transportation Authority plans draconian service cuts, while raising fares and imposing additional costs on those who commute by car ... or the subway.Because of the high price of Manhattan real estate, many working families live far away, in the outer ... into the real economy in order to maintain necessary services and ensure that the [more...]

Date: 2008-11-27 01:24:00

Grossly Overpriced Property...The Kiss of Death

If you're a real seller, this is NOT the market to grossly overprice your property ... of marketing presentations. Having been in the Manhattan residential real estate business for 16 years ... to hear. I'm just surprised that this gentleman, with a real estate background, was deaf [more...]

Date: 2008-05-23 15:17:25

Realogy Now on Endangered List

A: Realogy was taken private by Apollo Management in a $6.6Bln LBO, from NRT last year. Talk about ill timing ... and our local Manhattan real estate marketplace. As sales volume falls, and stays low ... . Realogy owns prized real estate brokerage brands Century 21, Coldwell Banker & Corcoran [more...]

Date: 2008-11-19 14:23:28

Manhattan as 'different' (not unique) / counting geniuses + immigrants

a reflection, not a rigorous analysis I am not a card-carrying member of the Manhattan Is Unique So Real Estate Price Will Never Come Down party, but I have audited classes in the Manhattan Market Is Different school. I noted with interest an article about the number of MacArthur Foundation grants to Manhattan residents when the NY Times [more...]

Date: 2008-10-02 13:41:00

lux diversion / Time Warner or 165 Charles as better "investment"?

not much gain for Portman Braden Keil's Gimme Shelter grab bag in today's NY Post (hat tip to Curbed for pointing it out) mentions two celebrity Manhattan real estate transactions that caught me eye, though neither involves a real loft. The first 'news' is that Natalie Portman is selling her "convertible three bedroom [more...]

Date: 2008-07-30 17:51:10

Are Tom and Katie taking over downtown Manhattan?

jtm-038589.jpg Could the Cruises be buying up real estate in New York’s lower Manhattan? ... . They turned one into Suri’s playroom. One they use for a gym, and two apartments are for staff.” Tom first ... they’ve bought up all these other apartments,” the source said. “They’re all separate [more...]

Date: 2008-10-23 14:33:47

License to Build: Non-Profits No Longer Face Zoning Challenges

Here's a breaking story that could dramatically change the face of Manhattan real estate and your very own quiet little enclave ... of its application to construct 5 floors of luxury condominiums on top of a new 4-story community house would ... , the Bronx, Staten Island and Manhattan. We know all this commotion over a 9-story, 114-foot-tall building [more...]

Date: 2008-08-27 14:20:41

Job Opening: Southern California Regional Service Manager - Keenan & Associates - To

Job Opening: Southern... by South Bay Jobs Yesterday 01:58 PM Go to last post 2,571 2,598 Real Estate (1 Viewing) South Bay Real Estate: Homes For Sale, Realtors, Mortgages Forget 'Qualified' –*Auctions ... , Manhattan Beach Unified, Mira Costa, El Camino College, Redondo Union, etc. [more...]

Date: 2008-12-10 20:58:32

Curbed Interview: Jonathan Miller Breaks Down the Madness (pfblogs.org)

On the eve of the release of the major brokerages' third-quarter Manhattan real estate market reports, we had a chat with Jonathan Miller— ... real estate appraiser extraordinaire, mastermind of the Elliman report, Curbed graph guy, lowly blogger and overall swell dude... ... [more...]

Date: 2008-10-03 15:32:18

The Buyer - Seller Disconnect

A: Okay, for readers of this site for the past few years the current environment in Manhattan real estate is no surprise. I've downplayed the weaker dollar / foreign demand trade that so many brokers used as a reason ... . The sideline money theory (the argument, mostly by brokers, that there will be a floor on prices because [more...]

Date: 2008-12-03 13:30:19

Why Manhattan Real Estate Is So Attractive to Russians

Perhaps the fact that Moscow is the most expensive city in the world and NYC is only #22 has something to do with it? ( ... resources consulting firm Mercer, a subsidiary of Manhattan-based Marsh & McLennan Cos. So New York ... primarily by the cost of housing but as other cities become more expensive, Manhattan appears [more...]

Date: 2008-07-24 21:10:17

Real Estate Boom Turns into Bust

2008_10_7wtc.jpg The NY Times delivers the verdict that the credit crisis has ended the real estate and construction boom ... to have a serious effect on the local economy and real estate values.” Add to digg Email this Article ... afraid to move within Manhattan. Some notable examples: HSBC isn't moving to 7 WTC anymore, because [more...]

Date: 2008-10-01 13:58:50

A Future Democrat-Controlled State Senate Has Landlords Sweating

After four decades controlling the New York State Senate, ... . And that possibility has real estate executives “really scared,” as one Manhattan developer told the Times ... in 1997 to favor landlords. Now the real estate industry is scrambling to get the Democrats [more...]

Date: 2008-08-08 18:53:54

Surprise surprise, NYC in recession

From the NY Times: No Surprise, New York Is in Recession One year after the national economy officially fell into a recession, ... , known as the beige book. The real estate market, especially in Manhattan, has softened substantially ... the rest of the region until recently, it said. Business at hotels in Manhattan has “plummeted” [more...]

Date: 2008-12-04 11:20:24

Manhattan Inventory Dropping For Summer

A: BRETT FAV-RA! As a long time J-E-T-S fan, today is a great day! For god's sake, we have ourselves a damn quarterback ... a number of emails and questions regarding the state of Manhattan real estate right now. All I can say ... so that you can see this trend: manhattan-real-estate-inventory-chart-3-months.jpg This is real [more...]

Date: 2008-08-07 14:25:10

Walking Billboard Street Marketing

Forget Monster.com and other job listing websites.  This guy took his job quest to the streets of New York ... market real estate this way? Technorati Tags: marketing, guerilla marketing, real estate ... , Joshua Persky, an unemployed investment banking consultant, pounded the pavement in midtown Manhattan [more...]

Date: 2008-06-27 22:29:55

Wall Street Losses a Disaster for New York City Finances

One of the shifts in leading edge conventional wisdom is the "cities are cool" sentiment ... to its dependence on financial services. Despite the view that foreign buyers will keep the real estate ... of the 1980s, Manhattan wasn't entirely safe. I was lucky. I merely had my wallet stolen more times than [more...]

Date: 2008-08-12 07:29:18

Real Estate Auctions Gaining Steam Nationwide

As housing markets across the country flounder, many owners and developers are turning to auctioneers to help sell their languishing properties ... condominiums will be much larger in 2008. For instance, Accelerated Marketing Partners, a real estate ... Are we going to start seeing auctions here in the Manhattan market? It remains to be seen if New [more...]

Date: 2008-06-25 14:54:47

Manhattan Inventory Passes 9,000

A: Woke up to a bunch of emails this morning from readers that the Streeteasy powered real-time widget tool just passed the 9,000 mark for Manhattan inventory. So what does this mean? Rather than look at that, lets look ... amongst both buyers & sellers. The Manhattan real estate marketplace right now is noticeably [more...]

Date: 2008-11-14 15:11:57

No Brokers Fee Apartment NYC Directory

No Brokers Fee Apartment NYC Directory What are the basics of New York city real estate? ... in Manhattan, the East Village, Park Slope and trendier parts of Queens are in high demand. That’ ... . By going straight to to a buildings management firms whether it’s a high end Manhattan apartment [more...]

Date: 2008-12-12 02:23:04

Gasparino: $3.5Bln Loss Tax Revenue / 111K Jobs Lost

A: Sorry for the late post, had some work to take care of today. Lets continue to keep it real ... when it comes to Manhattan residential real estate sales, and the sooner you realize that it is "buyer [more...]

Date: 2008-10-27 23:13:50

Treasuries Get Silly Sparking Bubble Talk

A: The 30YR Treasury Yield fell about 113 basis points in the last 4 weeks alone ... of Manhattan real estate, so content here will be mixed. As a trader that likes to find good entry ... the long end of the curve trade is just that, I was very wrong on timing, and I hit my stop losses [more...]

Date: 2008-12-09 15:37:13

Job Opening: Quality Engineer 2 or 3 - Honeywell - Torrance, CA

Job Opening: Quality Engineer... by South Bay Jobs Yesterday 08:26 PM 2,566 2,593 Real Estate South Bay Real Estate: Homes For Sale, Realtors, Mortgages ... Schools: Pre-School, Manhattan Beach Unified, Mira Costa, El Camino College, Redondo Union, etc. [more...]

Date: 2008-12-09 03:26:09

Talking Out Loud

You know, I want to switch it up a bit and just talk out loud for a discussion today; ... . These are some crazy times, I must say. While the Manhattan real estate market softens, and yes it has softened ... , doesn't make the entire market a frenzy, as we saw from The Real Deal's survey of brokers last week [more...]

Date: 2008-06-13 14:22:03

Landlord Wants to “Out” Rotten Tenants

There is a class of real estate rental scammers known as “serial evictees” ... to move out, to avoid the courts. As a real estate attorney practicing in Manhattan, I ran into a few [more...]

Date: 2008-08-18 05:07:21

September 11, again

I will re-post what I said on this date two years ago, slightly updated: ... who died that day at the World Trade Center in Manhattan, the Pentagon and Shanksville, PA (with personal profiles some personal information). As this is a blog about Manhattan real estate [more...]

Date: 2008-09-11 11:24:00

Rare Yarn in New York

I’ve knit a simple and fun scarf with some yarn that I have a hard time getting my hands on. ... like this. This kind of knitting is a rare treat for me.  I buy yarn in Manhattan, and because real estate is expensive here, they only carry the high end yarns.  They wouldn’t survive selling [more...]

Date: 2008-12-09 16:00:37

Mediocrity Abounds In Manhattan Real Estate Market

Sales volume has definitely picked up since mid June but the qualtity of property hitting the market seems to be lacking for the most part. 90% of my business is representing sellers with the sale of their homes but the 10% of business that I conduct with buyers often takes a great deal more time and energy [more...]

Date: 2008-07-21 20:25:31

Wellmont Theatre opening 'end of October', initial schedule

"Earlier that evening, one of the architects handling the restoration of the Wellmont Theater at 5 Seymour St., slated to reopen at the end of October or in early November as a live music and performance venue, also appeared before the commission. The Rosen Group, a Manhattan-based real estate development [more...]

Date: 2008-09-02 15:13:51

Confidence Trumps All

A: It's a messed up world we live in today. With oil backing off recent highs and falling $2.50 this morning, I can see it already.. ... and buyer confidence when I discuss the local Manhattan real estate market that I do business in; here [more...]

Date: 2008-05-28 13:18:40

Madonna, A-Rod Go House Hunting

Madonna, A-Rod Go House Hunting by Jodee Madonna Madonna and Alex Rodriguez are reportedly looking for a love nest to share. An unnamed source who knows the scoop about Manhattan real estate blabbed to the National Enquirer that the twosome have been looking at some modest little homes in the $30-$60 million range [more...]

Date: 2008-12-02 20:51:21

USA Today Takes CW To Task For Being All White And Shit

In a review of the CW's new show Privileged which premiered last night, USA Today's entertainment critic Robert Bianco says the network is turning whiter and richer with every premiere. Sounds like Manhattan real estate. But sears, we were actually ruminating upon [more...]

Date: 2008-09-10 18:00:07

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