The real estate market in New York is running very strong at the moment especially in Manhattan and Brooklyn. Contracts for Manhattan luxury properties have been signed quite frequently as of late. September of 2015 was a fantastic month for real estate in Manhattan. Olshan Realty saw 70 contracts for extravagant $4 million dollar apartments, with some even costing more. This is the best the realty market has seen for high-end living in approximately 9 years. The realty companies must be ecstatic. Other properties in Manhattan have done very well. Statistics and analysis point to terms such as absorption in other areas of Manhattan like Midtown and Midtown East.
Brooklyn, another one of New York City’s safer and more popular burrows, has been cited in the real estate analysis provided by The Real Deal which can be reviewed and interpreted here. September appeared to be a busy and big money month in Brooklyn according to the Real Deal’s real estate analysis report. Brooklyn appears to being doing well as also. There was a $1.7 multifamily dollar volume in September. It’s important to realize Brooklyn, along with Manhattan are well-off burrows of New York City, and they are beginning to expand. Some of the data on the the Real Deal market reports for the recent months in 2015 can be a bit difficult to understand without some assistance though.
Town Residential has several experienced team on NYC apartments for sale member ready, willing and able to sit down with an prospective investor or buyer and explain what absorption means in real estate jargon, and the team members of Town Residential will also be able to explain how absorption, market expansion, supply and demand and other factors can influence a buy or renters short and long term investments in pricey, upscale New York City properties. It is important to know these things when committing to such a huge purchase or decision to rent. Brooklyn and Manhattan are lovely, and they are getting lovely.
The firm of Town Residential has a principal their customers would love to know. They are full of empathy, long-time New York residents, home-owners and renters, and they want to make the clients of Town Residential as happy and comfortable as they possibly can.