NYC's Best Neighborhoods for Dogs and Their Owners

February 20, 2017 | by Mariela Quintana
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Major sporting events come and go in NYC without much fanfare. The Major League Baseball All-Star Game or Kentucky Derby — who cares? Not much fazes the cynical spirit of New Yorkers. But when it comes to dogs, watch out. Yep, for all our disinterest and apathy, nothing melts our hearts more than the Westminster Dog Show, which will be taking over Madison Square Garden this weekend. There’s something about the earnestness of the dogs trotting around in concentric circles, the gravity of their loyal masters and, of course, the pure puppy zeal of the winning pooch that just gets us. Dogs! New Yorkers love their dogs dearly, but the city can be a challenging environment to raise one. To assist all the dedicated dog owners out there, StreetEasy ha... Read More

Brooklyn investment sales fell 17% in 2016: report

January 23, 2017 | by Rich Bockmann
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The six-year run-up in Brooklyn’s investment sales market has come to an end, as the borough saw a 17 percent decrease in investment sales in 2016 from the previous year, according to a new report from TerraCRG. Brooklyn saw 1,504 transactions in 2016 for a total sales volume of $7.8 billion, the commercial brokerage’s data showed. That was down from $9.5 billion worth of sales in 2015, and a 20 percent drop-off in the number of trades. The average price per square foot continued to climb. The price per square foot for development sites rose by 5 percent to $206 per square foot, while values for multifamily properties climbed 18 percent to $361 per square foot. The Jehovah’s Witnesses’ sale of its Watchtower portfolio in Dumb... Read More

StreetEasy's 2017 New York Housing Market Predictions

January 9, 2017 | by Streeteasy Team
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Every year, StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. A year ago, we predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and a greater rent burden for Brooklynites. Heading into the New Year, we dusted off our crystal ball – that is, our extensive market data – to forecast some of the leading trends that will shape the city’s sales and rental markets in 2017. Manhattan Sales Market Will Have Slowest Growth of All Boroughs Where high demand and high-priced inventory kept Manhattan resale prices soaring over the past few years, luxury is now what’s dragging the marke... Read More

NYC Real Estate Experts Offer Their 2017 Predictions

January 9, 2017 | by Emily Nonko
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CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, renters can look forward to more apartment concessions from landlords coming next year. President Donald Trump will have big effects on NYC real estate Stephen DeNardo, CEO of RiverOak Investment Corp. The day after the election, Crain’s New York Business ran the headline: “President-elect Trump unlikely to hurt real estate industry that made him.” Th... Read More

Top Buyers' Markets in NYC

December 8, 2016 | by Lauren Riefflin
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Inventory remains tight in New York City, while rent and sales prices continue to rise – all conditions that point to a seller’s advantage. To identify neighborhoods where buyers may have more negotiating power or where buyers might face the most headwinds, StreetEasy created the Buyer/Seller Index. The Buyer/Seller Index is StreetEasy’s analysis of buyers’ and sellers’ markets across New York City. It looks at key indicators of competition such as: Time on market Price cuts Sold price in relation to asking price Taking each of these factors into account, we looked at how these statistics compare across New York City neighborhoods and determined where sellers have the upper hand and neighborhoods where buyers c... Read More

Election anxiety, "softening" markets," L train freakouts, and more: What to expect in NYC real estate this fall

September 12, 2016 | by Virginia K. Smith
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As the city wakes from its summertime languor and the real estate market climbs out of its customary August slump, it's a perfect time to look at what's in store for the rest of the year. And with recent reports of softening in the sales and rental markets, as well as 421a confusion, L train shutdown mania, and uncertainty over the election, suffice it to say the next few months are likely to be anything but boring. Below, what NYC buyers, sellers, and renters can expect as the weather cools: Is there really wiggle room in the sales market, or is it just for the ultra-rich? Over the last several months, there's been a much-discussed "softening"—broker code for slowdown—in sales for the headline-grabbing, multi-million-dollar condos at the very top of t... Read More

As Rental Inventory Increases, Landlords Are Offering Up More Concessions

August 15, 2016 | by Dana Schulz
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According to Douglas Elliman’s latest market report, landlord concessions (covering broker’s fees, offering free months’ rent, doling out $1,000+ giftcards) have doubled over the past year for Manhattan and Brooklyn rentals, coinciding with a roughly 30 percent increase in inventory in both of the boroughs. Jonathan miller, author of the report, told DNAinfo, “There’s just been more product brought into the market through more development. More inventory has brought more concessions, more modest price growth and kept vacancy rates elevated. This has been a five-year development boom. It’s already having an impact.” Looking specifically at Manhattan, in July of last year, 5.3 percent of new leases were affor... Read More

New York real estate follows nationwide trend as growth slows: report

May 16, 2016 | by Forrest Cardamenis
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New York real estate’s brisk growth is beginning to taper off, with the first-quarter marking the lowest annual growth in more than three years, according to a new report from StreetEasy. The Q1 2016 StreetEasy Market Report found nevertheless that the median price for real estate in New York’s Manhattan borough increased 3.8 percent to $978,765, a healthy growth rate by any other standard. Economic unease is slowing a recently booming market, but New York's investment prospects still look better than other markets in the nation, particularly in the longer-term. "The Manhattan market is highly influenced by what happens global markets," said Alan Lightfeldt, data scientest at StreetEasy. "Manhattan is seen as a safe real ... Read More