New York, New York
on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate
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Jul. 10, 2009
The three major firm market reports for the Second Quarter 2009 came out last week, essentially at the start of the holiday weekend. You've probably seen enough of the general media commentary about The Cliff The Manhattan Real Estate Market Just Fell Off
May. 14, 2009
Categorized in: Market Trends
The Wall Street Journal's on-line article Tuesday about a national trend in a decline in the number of homes for sale in 29 cities was based on a source that has no Manhattan data, but they seem to have checked in with The Miller: "Miller Samuel Inc., an
Apr. 22, 2009
Categorized in: Market Trends
Long-time blogger / honest agent Doug Heddings has an interesting slice of current Manhattan coop and condominium market data from PruDE's signed contracts files for weeks ending from March 6 through April 3. Here is one nugget: Spread between contract pr
Apr. 6, 2009
By The Miller's count, only one of every four lofts sold in Manhattan in the quarter was a resale. Put another way, there was essentially no market for Manhattan lofts in coops to start 2009 (some of those resales were condos, of course, while none of the
Apr. 4, 2009
Using the Miller Samuel more rich data set, the Manhattan loft niche over-performed on median sales price (the overall Manhattan market was up 3.1% YoY), on average price per foot (the overall market was down 2.3% YoY), on days on market (the overall mark
Apr. 2, 2009
The headline of the Josh Barbanel piece in this morning's New York Times pretty much says it all about the major firms' First Quarter Manhattan residential real estate market reports: Apartments Sell for Less if They Are Sold at All. There will be much t
Jan. 23, 2009
The loft niche is under-reported in two of three Manhattan quarterly market reports, so comparisons among the firms is difficult (The Miller wins, by default, essentially). The Miller Samuel 156 loft sales must have a very different mix from the unknown n
Jan. 8, 2009
Key numbers for me are Manhattan loft transaction volume (yes, there is a market, still) and days on market (but The Market is much slower). Consistent with the Manhattan coop and condo market as a whole, loft closings were at an increasing discount from
Dec. 18, 2008
A week ago I set up a spreadsheet on Google Docs as a way to retain and order data that I look at periodically -- namely, recent actual sales of Manhattan lofts. Since then I have been toying with how to share it with MLG readers in a way that will be bot
Dec. 5, 2008
Categorized in: Market Trends
While the Fed relies on a report that Manhattan coop and condo prices are off 15% since mid-Summer, I find that yes, "there has been a large increase in the number of [loft] listings." And that yes, Manhattan loft "transaction activity has dropped off not
Aug. 14, 2008
Yesterday I (finally) hit the big firm reports on Manhattan real estate transactions (and other stats) from the Second Quarter of 2008 .... Today it is whatever data is reported through the Big Three Firms ... specifically on the Manhattan loft market.
Aug. 13, 2008
It is (more than?) about time that I commented on the Q2 Manhattan real estate reports, as I have been chewing on them for quite a while (and we are halfway through Q3). The most interesting take-away for me is how well 2008 is doing (so far) compared to
Jul. 10, 2008
Ever since I began counting new listings and closed sales for Manhattan "lofts" last October I have been aware of -- and irritated by -- the definitional problems in doing such a 'simple' thing.
Jun. 13, 2008
In a world hungry for real-time data, Barbanel's occasional articles referencing "last month's" Manhattan coop and condo sales data as recorded with the City's Department of Finance provide just a smidgen of a hint of a taste.
Apr. 15, 2008
I got so caught up in micro-'analysis' yesterday that I did not get around to considering the factors that make it so hard to get accurate numbers about something as 'simple' as counting the number of coops and condos in Manhattan that closed between Jan
Apr. 14, 2008
More on the difference between reported sales volume in different first quarter Manhattan residential real estate market reports, now at the level of a true dispute, complete with trash-talking.
Apr. 11, 2008
The Miller Samuel data show that year-over-year Manhattan loft volume was essentially flat, lofts took a shorter time to sell, while loft inventory was up incrementally. In contrast, the overall market as presented by Miller Samuel shows market transactio
Apr. 11, 2008
3 major reports on the Manhattan residential sales market in the first quarter of 2008 trended similarly on price (up, or way up) but not on volume. Worse, they use such different numbers as to confound any reasonable person.
Apr. 2, 2008
Categorized in: In the news (me)
I did a 15 minute cell phone interview about The State of The Market this morning with Inman News. (I focused on Manhattan lofts, of course.) I wonder how it will turn out.
Jan. 7, 2008
The last time I talked at any length about [Manhattan coop and condo] inventory was seven months ago.... That post linked to a Jonathan Miller chart on Curbed that showed inventory as of May 2007 well below the five year average of 5,598 units for sale. S
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