CityRealty Insider > New Developments in the News

New Developments in the News

APRIL 6, 2009

Buyers aren't buying but they seem to be shopping; T-day parade may shut out Times Square merchants.

Industry reports reveal further price decreases and fewer closings in the current housing market as limited access to credit keeps buyers away. For example, condos at the Apthorp on the west side of Broadway between 78th and 79th will be on the market for an average of roughly $1,950 per square foot—a dramatic drop from the building's initial offering plan which called for prices of nearly $3,000 per square foot. That may be good news for some: A noticeable uptick in attendance in open houses was reported at the end of the year's first quarter.

Merchants along the route of the Macy's Thanksgiving Day Parade are concerned that the Mayor's proposed pedestrian plaza may result in the parade route being shifted from Broadway to Sixth Avenue. The parade is one of the most profitable events of the year for stores and hotels on the route. If it were to bypass Times Square—for the first time in its 84-year history—this November, local businesses fear that the loss of foot traffic, hotel room bookings, and national television coverage will level a huge hit to the district's bottom line.

ALSO IN NEW YORK CITY INSIDER

RLS IDX Data display by CityRealty.com, LLC. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources.

CityRealty is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please contact us at accessibility@cityrealty.com.

An equal housing opportunity

{"1":[40.775,-73.94,"East Side","_es"],"2":[40.79,-73.99,"West Side","_ws"],"11":[40.76,-73.98,"Midtown","_m"],"3":[40.736,-73.99,"Downtown","_d"],"13":[40.711309,-74.01,"Financial
District\/BPC","_fd"],"4":[40.682676,-73.973007,"Brooklyn","_b"],"12":[40.8444,-73.9376,"Upper Manhattan","_um"],"5":[40.7477089,-73.930411,"LIC \/ Queens","_qns"],"18":[40.8889782,-73.9025,"The Bronx","_bx"]}