Open House Picks 6 Months Later: 9/7/2007
Well, this almost seems like a zero-for-four batch, though 750 E. 21st allegedly has a firm offer (not in contract yet). The Cobble Hill house was originally listed at $2.9 mil; we caught it six months ago when the price had been chopped to $2.65. It’s now been fully rented out and is still for…
Well, this almost seems like a zero-for-four batch, though 750 E. 21st allegedly has a firm offer (not in contract yet). The Cobble Hill house was originally listed at $2.9 mil; we caught it six months ago when the price had been chopped to $2.65. It’s now been fully rented out and is still for sale at a slightly higher ask. 119 Bainbridge switched brokerages and was the subject of much chatter when it was House of the Day a few months ago. Brooklyn Properties now has it on their site at $1 mil.
Open House Picks 9/7/07 [Brownstoner]
“Is Neverland is for sale?”
The White House is in contract with the Chinese.
wait, so if the worst case is nyc real estate going down 20-30%, i ask again, what will i do with the other 170% appreciation i saw in the last 5 years?
please explain.
You are late to that party, 2:37, that is the decoupling argument of Europeans saving Manhattan real estate. That doomed theory is slowly fading. One world, one economy.
“‘Just like the tech bubble, NYC is ‘different’ ‘
i dont get?”
Sarcasm, 2:36, SAAARRRCASM!
“Tech bubble = ecommerce sites with shaky business models having money thrown at them by punters only to find out that the business models were yes, shaky.”
Deja Vu a la hedge funds, SIV’s, CDO’s, securitization, bogus AAA ratings, mark-to-models instead of mark-to-markets, etc., the list goes on.
“NYC Real Estate (Prime) = Expensive property values that have had a huge run up, but because of their location (which will never change) will only go higher. But definitely not as fast.”
Were they not already expensive relative to other cities before the run-up? No. That factor was already built-in before the late 90’s and CANNOT account for the 200% increase. Sorry. It cancels out.
Mr. The What, I disagree with the poster above who recommends a psychiatrist. Psychiatrists are for people without friends. You have friends. You can talk here. Tell us what’s really bothering you.
A financial crash of the major European economies would cause a crash of NYC real estate. Fortunately that seems unlikely as the EU is going full steam. Our economy is much more reflective of overseas markets than of markets in say, Philadelphia or Atlanta.
We are only technically part of the USA.
We are more like the EUSA.
Is Neverland is for sale?
2:36 Manhattan real estate prices decreased 30-40 percent in the early 90s (google it–it’s not hard to find). I’m not saying it’s definitely going to happen again in the near future, but to say prices can only go up is to live in fantasyland.
NY is different. I believe that the weak dollar has made Manhattan real estate irresistable to European and Middle Eastern buyers. The Manhattan market in turn drives the Brooklyn market. As long as Euros and Pound Sterling keep washing ashore, the expensive end of the market will remain strong.