June 2009

Building Artwork

I love NYC.

Prime NYC Real Estate

Specializing in real estate from downtown lofts to classic uptown homes

Looking Up

Real estate in Midtown is finally looking up.

With a plethora of restaurants and shops, as well as vicinity to many of NYC’s office buildings, Midtown Manhattan offers residents the ultimate in convenience. Whether it is to be closer to work, or near several subway stations, I am finding many buyers and renters want to be in the center of it all. Because the neighborhood tends to have very tall buildings, many homes are able to offer residents a doorman, elevator and other amenities not found in smaller buildings. One bedroom rentals can be found starting around $2000/month – a relative steal when considering the amenities and services. In the same vein, there are several condos and coop deal in the area, near Central Park. If you haven’t looked in this neighborhood before, now would be a good time to explore.

Increased Activity Reported Across the Boards

With news outlets continuing to report record numbers of home foreclosures and bankrupt states (ahem, California), the NYC real estate market is showing an increase in traffic in both the sales and rental markets, up from just a few months ago. Open houses and weekly appointment data support the fact that buyers and renters are on the move and making more property visits. The traditional rental months of May-September are acting as they have in years past: good inventory is moving quickly. The difference this year is that saavy renters know that they may likely land a property that is larger or in a more desirable neighborhood for the same or less monthly rent than they paid in 2008. On the buy side, although not a lot of new inventory will likely make it to market before the Fall, customers can shop peacefully now to find the right home. Whether it is a condo, coop or rental, the great weather and better moods are making people hit the pavement.