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Manhattan

Tallest Chart in the History of Manhattan Real Estate, Continued

January 22, 2015 | 1:32 pm | curbed | Charts |

With the closing and recording of the record $100.47 million penthouse sale at One57, I thought it was time to dust-off the tall chart I created in 2012 when the prior record price of $88M at 15 Central Park West was set.

This week I ended up writing a piece about tall towers in my Bloomberg View column called Living the High Life, another one on Curbed NY for my Three Cents Worth called Proving New York’s Blockbuster $100M Sale Is An Outlier which provided some needed context for the new record sale in the following scattergraph. Note the $100.47M record sale in the upper right hand corner and then scroll down…a lot.

3cw1-21-15-tall

[click to expand]

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[Three Cents Worth #276 NY] Proving New York’s Blockbuster $100M Sale Is An Outlier

January 22, 2015 | 1:08 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

Finally, after nearly two years of referring to the $88 million sale at 15 Central Park West as the “highest Manhattan residential sale on record,” we get a change of scenery. A new record was set with the $100.47 million sale of the penthouse at One57 recorded late last week. Timing is everything, although, in this case timing really wasn’t. I believe this sale went to contract in 2012, which would be shortly after the $88 million sale went to contract in December 2011 and closed in early 2012. While these super luxury sales are more of a circus sideshow and have little, if anything, to do with the vast majority of the Manhattan housing market, I find them surreal to consider…



3cw1-21-15-short
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My latest Three Cents Worth column on Curbed: Three Cents Worth: Proving New York’s Blockbuster $100M Sale Is An Outlier [Curbed]

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Bloomberg View Column: Living the High Life

January 22, 2015 | 11:24 am | BloombergViewlogoGray | Charts |

BVlogo

Read my latest Bloomberg View column Living the High Life.

Please join the conversation over at Bloomberg View. Here’s an excerpt…

Never have so many residential buildings had such lofty aspirations. Based on the number of stories in buildings worldwide that are more than 650 feet (200 meters) high, we’re in the midst of an edifice eruption. An even bigger surge is forecast for next year. The interest in what might be called pinnaclenomics has been driven by capital seeking higher returns in hard assets like luxury real estate in the world’s financial centers — especially in developing nations….

[read more]

Some other related content on the tall building phenomenon:


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VIDEO: Fox Business Risk & Reward w/ Deirdre Bolton 12-11-14

December 26, 2014 | 2:31 pm | foxbusiness | TV, Videos |

Was nice to join Deirdre again to talk housing, specifically why rents are rising and buyers are falling.

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[Three Cents Worth #275 NY] Why New Developments Are So Darn Pricey

December 26, 2014 | 1:57 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

As 2014 winds down I thought I’d break down the year’s condo market by splitting up resales and new development closings using median sales price. Since early 2012, the new development and resale price trends have parted ways. That’s when the stalled shadow inventory that resulted from the Lehman collapse—a.ka. condos that weren’t formally offered yet and went unsold, because first batches of units didn’t sell in the midst of the financial downturn—was finally bought up or otherwise absorbed…

3cw12-23-14
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My latest Three Cents Worth column on Curbed: Three Cents Worth: Why New Developments Are So Darn Pricey [Curbed]

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[Three Cents Worth #274 NY] Number of Manhattan Homes Selling for $10M+ Is Way Up

December 26, 2014 | 1:53 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

This week I took a look at the volume of super high end sales that closed each quarter to show how out of whack current activity is when compared to longer term norms. From 2006 through 2013, the average was 21 apartments sales for $10M or higher per quarter. That’s seven per month or nearly two per week for eight years. That’s a lot of sales in this price segment…

3cw12-2-14
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My latest Three Cents Worth column on Curbed: Three Cents Worth: Number of Manhattan Homes Selling for $10M+ Is Way Up [Curbed]

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Bloomberg View Column: The $10 Million Home, Never Hotter

November 30, 2014 | 1:00 pm | BloombergViewlogoGray |

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Read my latest Bloomberg View column The $10 Million Home, Never Hotter. Please join the conversation over at Bloomberg View. Here’s an excerpt…

As the U.S. housing market cools from last year’s overheated state, sales of homes at the top haven’t been following the same script. Prices and sales at the upper reaches are soaring…

[read more]


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VIDEO: Fox Business Risk & Reward w/ Deirdre Bolton 11-24-14

November 29, 2014 | 9:19 pm | TV, Videos |

Joined Deirdre Bolton to talk about the U.S. high end development residential market. We spoke about softness at the NYC high end and how the cooling of new development doesn’t speak for the entire high end market.

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[Three Cents Worth #273 NY] Three Cents Worth: No Relief In Sight For New York Renters

November 29, 2014 | 8:45 pm | curbed |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

Before the tryptophan kicks in on Thursday, I thought I’d present the rental market trends for Manhattan, Brooklyn, and Queens coverage in another way. Because of seasonality, I tend to rely on median rental price compared to the same period a year ago. I applied a 90-day moving average as a trend line for each of the markets to help show where these markets seem to be headed…

3cw11-25-14
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My latest Three Cents Worth column on Curbed: Three Cents Worth: No Relief In Sight For New York Renters [Curbed]

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[Three Cents Worth #272 NY] The Cost Of Your Doorman Keeps Rising

November 29, 2014 | 8:30 pm | curbed | Columns |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

Having that doorman just got more expensive. The difference between the average rental of a building with and without a doorman was at its widest point since we began to track this metric in 2007. The average rental price in a doorman building was $4,915, up 17.8 percent over the past 7 years and the highest recorded over this period. The average rental price in a non-doorman building was $3,461, up a more modest 5.8 percent over the same period. The difference between the two rental types resulted in an eight-year high of $1,645 per month…

3cw11-18-14
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My latest Three Cents Worth column on Curbed: The Cost Of Your Doorman Keeps Rising [Curbed]

Three Cents Worth Archive Curbed NY
Three Cents Worth Archive Curbed DC
Three Cents Worth Archive Curbed Miami
Three Cents Worth Archive Curbed Hamptons

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