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

It’s time to share my Three Cents Worth (3CW) on Curbed NY [1], at the intersection of neighborhood and real estate in the capital of the world [2]…and I’m here to take measurements.

Check out my 3CW column [3] 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 [4]
[click to expand chart]


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

Three Cents Worth Archive Curbed NY [5]
Three Cents Worth Archive Curbed DC [6]
Three Cents Worth Archive Curbed Miami [7]
Three Cents Worth Archive Curbed Hamptons [8]