Prices in Manhattan’s luxury residential real estate market continue to soften onset by an increase in inventory and global economic uncertainty. Pricing remains the elephant in the room and the largest issue in today’s market as sellers have been slow to adjust their expe
Speculation in New York’s real estate market continues to swirl as concerns about how market turmoil, cheap oil, and a boom in residential development will play out in 2016. In a time of growing uncertainty, the question that continues to be asked is when the bottom will fall ou
Happy New Year! In this edition, we bring you a brief recap of Manhattan’s luxury real estate market in 2014 as well as our predictions for the coming year. 2014: A Year in Review Manhattan’s luxury real estate market in 2014 was characterized by elevating prices and a ris
We see an interesting opportunity to purchase smaller, one and two-bedroom units in pre-existing premium buildings as a unique value-play. Manhattan’s residential real estate developers continue to build increasingly larger units across prime neighborhoods. This recent surge in
The current perception is that Manhattan real estate is as good as gold. Manhattan’s property market continues to serve as a long-term equity play for asset preservation. Domestic and foreign investors alike are turning to the relative safety that Manhattan’s real estate market offers
The conversion of Walker Tower, the 24-story Art Deco office building at 212 West 18th Street transformed into 47 luxury condos in Chelsea has been completed. The condo conversion attracted a significant amount of attention from buyers around the world, selling all but PH2 (5 Beds, 6,
2014 Opportunities 2013 Review The major themes of 2013, were low inventory, bidding wars, and record setting prices. The market was driven by a record shortage of inventory coupled with a large pent up demand for properties throughout Manhattan. A strong local economy, stock market
From a global perspective, Manhattan real estate is a bargain. Manhattan’s prices remain a relative value when comparing investment potential here to that of properties around the world. That fact continues to attract domestic and foreign buyers to Manhattan’s real estate
“An elegant apartment at 15 Central Park West with treetop vistas of Central Park just outside and a host of sophisticated customizations inside — like a built-in sushi bar in the great room overlooking the park — sold for $25 million and was the most expensive sale of the week,
All information regarding a property for sale, rental, taxes or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, proper sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.
The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own qualified advisor, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. Each Engel & Völkers brokerage is independently owned and operated.