Red Nabes Lose: Condo Price Cuts all the Rage
All the neighborhoods in red above saw more price decreases than increases on condo units between mid-February and mid-May, according to StreetEasy numbers the Real Deal crunched. The data shows that there are more price cuts these days than price increases in both Brooklyn in Manhattan. In Brooklyn, there were cuts at 183 units, with…
All the neighborhoods in red above saw more price decreases than increases on condo units between mid-February and mid-May, according to StreetEasy numbers the Real Deal crunched. The data shows that there are more price cuts these days than price increases in both Brooklyn in Manhattan. In Brooklyn, there were cuts at 183 units, with the average price decrease totaling $42,195. At the same time, there were 103 listing increases averaging $34,660. The stats for Williamsburg are probably the most interesting: The neighborhood had the greatest number of price changes, 104, but it ends up green on the map because there were a bunch of price bumps at Northside Piers. Take Northside Piers out of the picture and there would have notched 40 decreases and 11 increases. Clinton Hill and Park Slope fared poorly in the tally, with the former lodging reductions on 24 units and increases on only 3, and the Slope seeing a total of 18 decreases and zero increases. Brokers say the numbers for the two neighborhoods may have reflected listings where brokers/developers had loose definitions of the two neighborhoods’ boundaries (Bed-Stuy and South Slope, maybe?). Overall, not the prettiest picture.
Condos on the Chopping Block [The Real Deal]
Graphics from The Real Deal.
still don’t see prices right now as less than a couple of years ago. they simply are higher
Re: June 6, 2008 2:15 PM
“Name any state and I can point out how the properties INSIDE the cities have held their values far far more than the suburbs. ”
Err, I hate to break it to you, but whichever way you slice it, Brooklyn is the ‘burbs.
8:40 wow… i don’t think you know what you are talking about. advertising has moved HALF OF ITS BUDGETS hello! to internet advertising. and, guess what there aren’t any college classes offered about how the hell to manage it. soo anyone with any experience in this is seeing a lot of money thrown at them. it’s the fastest growing media right now. you are clearly not very bright.
“A Sound of Thunder”, Ray Bradbury
I’m not sure why you all seem to think all of these media, IT, and creative jobs are recession-proof. Because they’re not. What the hell does an “internet advertising analyst” do, anyways? Oh, wait, let me guess. Metrics! Blah, blah, blah. Metrics! Do you get health insurance with that too?
Pretty broad statement, 5:09. care to back that up with real statistics?
Brooklynnative- your 3:17 post was great and spot on. The unfortunate fact is the powers-that-be (from the local to national level)seem very limited in vision- a word they toss around freely without comprehension. Until they understand how everything works together, an organic whole, (please, no New Age comments), they will always make the same mistake and in the long run almost guarantee failure. There’s that well documented, ever increasing gap between rich and poor- and it will impact us in ways we can’t even begin to comprehend now.
On every level the lack of diversification is destructive and debilitating. So many factors go into the economy, into services, into government that one little thing has the potential to affect everything- like that classic sci-fi story about the time travelers who accidentally bring back an insect from ancient times and it changes the outcome of an election today. (Wish I could remember the author and title but having a blank moment here).
“Thursday’s huge stock rally came on a day when oil rose 6 bucks, the Dollar fell half a buck, and home foreclosures hit a record high, as if those were good things. Think about that.”
We have and have concluded it’s down to the psychotic workings of the minds of Merrill Lyncher’s (lynch. If only.) and their friends the hedge fund hamsters.
And you folks really beLIEve Barack Obama is going to alter this in any way? My friends, that’s not change we can beLIEve in.”
Damn, Brooklyn Native’s juju is almost as good as The What’s. You dudes should pair up.
“Internet Advertising Analyst”.
Jeezus.