View from the living room of an otherwise appealing apartment.
As everyone knows, apartments with some combination of open views, sunny exposures and skyline vistas can command premium prices.
But many buyers who begin their search demanding lots of light–as most buyers will maintain–don’t often appreciate how much less they can spend for a place that has minimal light and bleak or offputting exposures. Light and soothing aesthetics are the inevitable trade-off for value, though a grim exterior can be a heavy price to pay.
A great example of this phenomenon is the possibly 650-700-sf co-op with the view from the living room shown above.
The unit in a 1951 building with garage on Riverside Drive in the low 100s has been beautifully renovated–new pass-through kitchen, lovely hardwood flooring, good closet space and higher-than-average ceilings. But don’t even think Continue reading
PRICES ARE UP AND SALES ACTIVITY IS DOWN IN THIRD QUARTER
After two years of unpredictable sales trends, the Manhattan real estate market seems to have settled into a more typical and seasonal pattern, with prices rising slightly and sales volume dipping in the recent summer months, according to third-quarter market reports, says the New York Times.
Prices increased for the fifth straight quarter, with the average sales price hovering around $1.43 million and the median price around $910,000, according to data provided by the city’s four largest brokerage firms. But prices are still well below the market’s height a couple of years ago, when the average was higher than $1.7 million and the median was close to $1 million.
Inventory has declined, reports the Real Deal, and the Wall Street Journal says Manhattan is a star in the apartment market.
But my post (below) on Wednesday questions whether September has evolved into a healthier market.
FIVE NEW YORK NEIGHBORHOODS ARE AMONG NATION’S MOST COSTLY
The West Village’s 10014 Continue reading