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

Market Insight

As of this writing, more than 8 percent of New Yorkers have been fully vaccinated, and there seems to be more news on the vaccine front every day. With such precautions in place, more of New York City is starting to reopen, and some semblance of typical New York life may be starting to re-emerge....
The recent Golden Globe ceremony looked very different this year in light of the coronavirus pandemic, but awards season is nevertheless in full swing. Likewise, celebrity-owned real estate remains a hot commodity in New York City. We take a look at listings owned by Oscar, Emmy, and Tony Award w...
From February 22-27, a total of 112 sales were recorded in Manhattan with an aggregate price of $203,500,000. The 50 condos came to a median price of $1.89 million, or $1,407 per square foot. The 62 co-ops sold came to a median price of $904,750. New condo construction is few and far between in ...

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For the fourth quarter of 2020, the average sale price of a Manhattan apartment fell 2% when compared to Q4 2019. The average sale price for all residential units, excluding townhouses came in at $1.907 million, down from $1.954 million in Q4 2019. The average price of a condo was $2.69 million (...
The 421a tax exemption program was started in 1971 to encourage the development of underutilized or vacant property by dramatically reducing property taxes for a set amount of time. Developers who qualified could benefit from exemptions that usually last between 10 and 25 years, and the tax break...
Between its proximity to Prospect Park and Brooklyn Botanic Gardens, strong sense of community, eclectic dining scene, and easy commute to Manhattan, Crown Heights has been experiencing a resurgence in popularity as of late. However, locals and elected officials alike are determined that this not...
Founded on the philosophy that things done well create value, Grid Group principals Hal Einhorn and Yiannes Einhorn bring an attention to detail to their projects almost unheard of in their profession. The meticulous father and son duo have worked together for decades and most recently gone on to...
To look at recent financial headlines, one might wonder if we’ve gone back in time to the last years of the 2010’s when Bitcoin and other cryptocurrencies were taking the investment marketplace by surprise. But we are very much in 2021, when companies like Tesla and Square are investing in crypto...
Over the past seven days, 523 new listings came on the market throughout Manhattan, northern Brooklyn, western Queens, and the Bronx. The 224 new condo listings came to a median price of $1,750,000, or $1,454/square foot. On the co-op side, the 270 new listings came to a median price of $799K. Be...
According to CityRealty listings, there are 11,816 marketed available apartments for rent in Manhattan. This marks a slight drop from last week, and the Manhattan median rent is similarly stable, falling by $3 from last week to $2,795/month. From February 17-23, over 900 Manhattan rental listing...
The Naftali Group in partnership with Rockefeller Group have cleared a huddle of Upper East Side walk-ups to make way for a soaring and stately condominium tower designed by the one and only Robert A.M. Stern Architects. Anticipated to stand 35 floors and 489 feet high (from street level to pinna...
Updated 2/25/2021 to include new lotteries in Yorkville, Bushwick, Flatbush, Borough Park, Long Island City, Jamaica, and the Bronx. Under the de Blasio administration, New York City has rolled out several new affordable housing initiatives (for more details, see the mayor’s latest housing plan,...
On the corner of West End Avenue and West 78th Street, the past is gracefully being combined with the present. Down the block from the landmarked West End Collegiate Church, Alchemy Properties, the developer behind the Woolworth Tower Residences, is combining a new 18-story tower with a Schwartz ...

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