Category Archives: Residential Places

Manhattan Real Estate Market’s TOWN Residential Analysis Reports on Fourth Quarter Market Trends and Conditions

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A NYC real estate firm known as TOWN Residential released its quarterly report on residential market called The Aggregate. It reveals a continued increase in the price action, with the average prices being almost 2 million dollars. Every year, the average sales prices in Manhattan are reported to have a 5.2 percent gain, currently rising to 1,976,660 dollars. Compared to previous years, the median sales price also recorded significant growth, reaching 16 percent to a mark of 1,150,000.

As 2015 concluded, the trends of price per square foot also continued to rise, reaching record levels. TOWN Residential reported that it was 6.2 percent higher compared to the previous year when at 1,365 dollars. The trends confirmed that the growth that has been witnessed years after another also recorded a rise of 8.4 percent the previous year and 7.6 percent higher from 2015’s third quarter.

Manhattan co-op’s average price in 2015’s fourth quarter was recorded at 1,272,902 dollars compared to 1,217,017 dollars in third quarter of the same year. This is an increase of 4.6 percent. One the basis of year-over-year, co-op average price rose by 6.4 percent. The average price trends for every square foot were 1,087 dollars, which is a 6.3 percent increase compared to the previous year, and a bit higher compared to the reading of the last quarter which recorded 1,066 dollars.

According to the firm, the median price for a one, two and three or more bedroom condo reached 1,080,000 dollars, 2,056,865 dollars and 4,421,300 dollars respectively. The median price for a three or more bedroom cooperative particularly recorded an increase in 15 percent compared to the last quarter, which means that it surpassed the 3,000,000 dollars mark.

According to the CEO and founder of TOWN Residential Andrew Heiberger, Manhattan experienced a big gap between trends and new developments when it comes to the resale markets. He continues and notes that this is mostly due to the trophy listings closing within new developments. When one looks at the already established resale market, stabilization will be noted since sellers are beginning to adjust price expectations earlier in the year. There are also transactions that have reached record prices, which also contribute to gains in year-over-year.

January 22, 2016

The State Of Real Estate Development In New York

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The town residential was established and launched in 2010 with a sole aim of changing the house design into the modern housing design. The residential were founded by Andrew Heiberger, who serves as the Chief Executive Officer and President of the residential. Joseph Sitt serves as the co-founder of the Company. Town Residential offers the most reliable and expensive real estate services enterprise for only five years of operation.

Town Residential is based in New York City luxury real estate and provides the best environment to stay with your family. The Company primarily focuses on the sales of luxury residential, leasing and renting the estates, property developments, and commercial retailing of the apartments. Town Residential has indeed led to a turnover in the industry by the introduction of modern housing installed with modern appliances. This business venture has a professional staff that has gained experience and skills in the real estate development. Click to get more information on Town Residential.

The New York Times recently made a publication concerning the current state of the real estate development in New York City. In the field, what is experienced is advanced technology and a new phase of the estate development. Actual sales got experienced in the industry. According to the publication, Extell Developments managed to close the year with an estimated net worth of one hundred million dollars.

In other phases of sales, the Central Park real estate developers who operate at 57th Street managed to make a closure with a nine digit figure. Developers based in Manhattan managed to set new records as higher prices paid for town residential. In Cobble Hill, Brooklyn made an impressive sale and raised a new record for the most expensive sale of a single apartment ever sold. Shaun Osher, who currently serves as the Chief Executive Officer of the Brokerage Core Firm, reported that 2015 emerged as the best year of sales as compared to the past years.

According to Shaun, new records will sooner be set due to the expected sales of residences in Central Park South 220 to interested billionaires in the area. Kenneth Griffin, who has a net worth of more than seven billion dollars, expressed his interests in buying a residence in the area. Kenneth raised an estimate of two hundred million dollars to purchase the resident located in Central Park South 220.

December 31, 2015