New York City lost less population to other states in the 12 months ending July 1, 2008, than during any year in decades, according to census figures released Thursday. If that trend continues, the city’s population will top 8.4 million in 2010.
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Newest Statistics for the NYC Real Estate Market
November 21, 2009 by seema.aggarwal · Leave a Comment
Wondering how the NYC real estate market is doing? Here are some statistics that may surprise you.
- The number of signed CONDO contracts for October 2009 is up 32% over September 2009, and is up 135% over October 2008.
- October boasted the most condominium signed contracts for 2009.
- The number of signed COOP contracts for October 2009 is up 30% over September 2009, and is up 160% over October 2008.
- At this point in November – a little more than halfway through the month – the number of signed contracts this month is already more than the total for November 2008.
- Co-op sales generally increase 5% in November; November co-op sales will most likely be higher than October if the pace of sales remains steady
- Available inventory is at its lowest in 21 months– down 24% from its peak in March 2009.
- Total available inventory is approximately 9,300 units (last at this level in March 2008).
- The average CONDO sale price is $1.95M in Q4 2009, 29% higher than Q3 2009 and 12% higher than Q4 2008
- Buyers are purchasing larger residences this quarter versus Q3 2009
- Price per square foot increased 15% versus Q3 2009 as the high-end of the market rebounded – more resales in trophy buildings around Central Park
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Remembering the Past, Looking to theFuture
September 11, 2009 by seema.aggarwal · Leave a Comment
Eight years ago today, the US experienced a terrible tragedy. As we still feel the hurt and loss of approximately 3,000 people, it is important to remember and honor our past. Here is a picture of the Twin Towers as they stood before the terror attack.
The Twin Towers
Looking to future plans for the area, here is a rendering of the proposed plans for the 16 acre site. Still under construction with a completion date several years out, we honor the fallen with a renewal of both building and of hope:
Proposed Plans for WTC Site
The complex will include a National September 11th Memorial and Museum, 5 newly built skyscrapers, a transportation hub, shops, and a performing arts center. For more information, visit www.wtc.com
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NYC’s Very Own Railway to Trailway: The Highline
September 8, 2009 by seema.aggarwal · Leave a Comment
The newest addition to Far West Chelsea has been a city-wide hit: The Highline has finally arrived! This stretch of old Manhattan remnants was, as reported on abc.com an “elevated railroad …constructed to replace dangerous street-level train lines on a path nicknamed “Death Avenue.” Before the High Line was built, horsemen carrying lanterns would ride on the tracks to warn pedestrians of incoming trains.
(Author Unknown, 1934/ Courtesy of Friends of the Highline )”:
(old Highline, courtesy of abc.com)
circa 1934
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Central Park has seen better days…
September 7, 2009 by seema.aggarwal · 1 Comment
Last week, NYC’s largest park was hit with two nights of severe thunderstorms. This view looking over 1136 Fifth shows the beginning of the onslaught.
NYC's latest foreboding skies
Read more
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Increased Activity Reported Across the Boards
June 15, 2009 by seema.aggarwal · Leave a Comment
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.
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New York City Residents prefer NY to Any Other: New York Times article today
March 19, 2009 by seema.aggarwal · Leave a Comment
New York City Sees Fewer Residents Leave for Other States
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What you may have missed this morning…
March 9, 2009 by seema.aggarwal · Leave a Comment
Warren Buffett spoke with his favorite CNBC correspondent, Becky Quick, this morning to discuss what America can’t stop thinking about: the current economic climate. See what he had to say below.
He’s a smart guy – and not terribly pessimistic. Another good reason to take a page from his book (but not without buying it first!).
Seema Aggarwal is everything-you've-wished-for-but-never-had in a real estate professional. She has been focused on New York City real estate exclusively for years with Corcoran, buying, selling, renting, and investing... 