The Big Apple: Condo prices, rents rise and more!

Condo prices rise 12 percent over May 2009, but pace seems to flag

The Radar Logic data firm reports that Manhattan condo prices went up 4.7 in January over a year earlier but that the rate of growth seems to be slowing.

Although prices have climbed 12 percent above the post-bust low in May 2009, the price recovery is “losing steam” or may simply reflect seasonal weakness in demand, according to the firm’s RPX Monthly report on Manhattan neighborhoods. The report said it was too early to know with any certainty what contributed to the increase.

Uptown neighborhoods fared better than downtown neighborhoods, with year-over-year increases caused by higher prices per unit as a result of a shortage in supply.

Apartments with a washer/dryer clean up when sold

One new value-enhancing amenity that’s catching on is allowing shareholders and unit-owners to install clothes washers and dryers in their apartments. Plumbing issues have been the usual reason for forbidding washing machines.

But one veteran real estate appraiser has estimated that a washer and dryer add approximately 5 percent to the value of any apartment, leading to the increasingly permissive attitude these days.

The rich are Continue reading

Advertisements

Weekly Roundup: Rents up, prices down, more!

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out the other of today’s posts and look for Out and About early next week.

Designing man nails duplex on the Village’s ‘Gold Coast’

Star in the city and hubby succeed in buying a townhouse with after really trying

Actress looks forward to selling the condo she vacated three years ago after her drug arrest

Former homes of the rich, famous or both can be yours

Listed at $33 million in 2009, his New Mexico ranch has found a buyer after price cut to $18.5 million

With house under contract, a TV doctor is moving up in Beverly Hills to one twice as expensive (2nd item)

Obama administration’s March scorecard inevitably concedes weak housing nationwide

Market tightens for rental housing

While showing stability, February prices are below Continue reading