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A blog from CityRealty (Links below will take you to the 6sqft site)

Market Insight

Young architects often wax on about the endless potential of concrete — its malleability and color options seem idyllic and endless. Morris Adjmi feels the same way about brick. With his firm’s motto “standing out while fitting in,” Adjmi uses brick to challenge perceptions of depth, light, and l...
For centuries, Manhattan real estate has proven to not only be a safe investment but often a lucrative one, especially for those who hold onto their properties long enough. John Jacob Astor, the craven 19th-century property magnate said to be the county's first multimillionaire, lamented on his d...
Over the past several years, New York’s housing construction has failed to keep pace with the city’s growing population. The City notes that construction lagged in the wake of the 2008 financial crisis, and that pandemic-induced halts of all but the most essential construction left a mark. Throug...

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For the second quarter of 2021, the average sale price of Manhattan* apartments rose 10% Y-O-Y when compared to Q2 2020 and up 18% when compared to Q1 2021. The average sale price for all residential units, excluding townhouses, was $2.02 million, up from $1.84 million recorded in Q2 2020. The a...
During the Gilded Age, the Upper East Side was known for the opulent mansions lining the streets. More than 100 years later, period drama The Gilded Age is set to premiere on HBO and a new Gilded Age appears to be taking shape off-screen. This time, instead of single-family mansions, a new crop o...
Owners outnumber renters in many U.S. cities, but not in New York. If anything, the proportion of renters to owners has even grown in recent years. Currently, more than half of the city’s inhabitants are renters, and data reveals that renting isn’t just for the young. In nearly every age category...
From January 9-15, 2022, a total of 350 condo, co-op, and condop sales were recorded in Manhattan The aggregate total of sales was $790,536,689 189 condo sales came to a median price of $1.725 million ($1,626/ft2) 152 co-op sales came to a median price of $786,250  
Between January 8 and January 14, 374 Manhattan apartments were listed for sale at a median price of $1.99M ($1,745/ft2) for condos and $800K for co-ops. Find below some of our picks of the most attractive apartments to hit the market this past week. Among them are a 3-bed at 212 Fifth Avenue, a...
As many New Yorkers struggle to keep up with mortgage payments and related homeownership costs due to the pandemic, there is good news on the horizon in 2022. As announced in December, Governor Kathy Hochul is launching the New York State Homeowner Assistance Fund (NYS HAF). At a press conferenc...
As Hudson Square moves closer to becoming a high-end live-work-play community, some manufacturing buildings of yesteryear have been razed to make way for a spiffy set of modern constructs. The latest such example is 100 Vandam Street: After entrepreneur Jeff Greene acquired the gorgeous albeit un...
In spite of the pandemic, Long Island City continues to pump out new projects faster than pretty much any neighborhood in the country. According to a recent study by RentCafe, LIC's Hunters Point district ranks third in terms of number of apartments under construction. Now with its rental market ...
At 1.1 million square feet and spanning a full city block, 85 Jay Street is DUMBO’s largest residential development. The condos dubbed Front & York comprise 408 units and are situated at 85 Jay Street, while the rental component, Magnolia DUMBO, comprises 320 units and is situated at 160 Front St...
Updated 1/12/2022 with new lotteries in East Harlem, Williamsburg, Bushwick, Prospect Heights, Astoria, Jamaica, and Fordham. In Mayor Bill de Blasio’s “tale of two cities” speech, he cited housing and homelessness as examples of the stark inequality in New York City. As his tenure as mayor draw...

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