Mike Lubin's NYC Real Estate Notes (February 2017)
Here's a quick run-down of some common thoughts I've been sharing with my clients lately.
If you have any real estate questions or needs just reply to this email- or even if you want to just meet for coffee and catch up!
How many condos/co-ops/rentals are there in Manhattan?
Here's the Breakdown
Surprised? Many of the people who see this chart underestimate the amount of rental units in Manhattan's real estate market, and they overestimate the condo portion.
Condo development is a relatively recent phenomenon in New York City real estate. Many older buildings- including iconic pre-war buildings like the San Remo on Central Park West- converted to co-ops before condos were in vogue.
Some pre-war buildings are now making the transition into condominiums to compete with new developments, including 360 Central Park West. I blogged about this on my website, and you can click through to the article below:
This chart shows how many months it would take to sell all of Manhattan's apartments, based on the average length of time between contract signing and closing.
When I advise clients on how to price their apartments and how long to expect between listing and closing, the Absorption Rate helps me provide informed estimates for what to expect.
17 Ways to Make a Small Room Feel So Big
Recent Features on MikeLubin.com
Glamorous 3-bedroom corner 3-bath home offers extraordinary space and abundant light in one of Manhattan's most vibrant neighborhoods-truly the center of the city. Approximately 1600 square feet, featuring three open exposures, south, west and north, you'll enjoy sun all day while seduced by clear open views of Central Park and iconic New York City architecture spanning all the way to the George Washington Bridge.
A grand corner living room features walls of floor-to-ceilings windows facing west and with views of Central Park, flooding the main entertaining space with sunlight and also features a large corner terrace to enjoy a glass of wine on those warm summer nights.
It's my pleasure to share my notes and listings with you on MikeLubin.com, and as always there's lots of other good stuff to see if you poke around on here!
If you have any real estate questions or needs just click below :)