Saturday, February 19, 2011

Quoted in Wall Street Journal on TriBeCa


Lofty Ambitions Can Be Realized In TriBeCa   (click for full article)

Interviewed and quoted by Wall Street Journal on TriBeCa.  TriBeCa is already the priciest zip code in Manhattan but still has great upside potential as it is just north of the World Trade Center development, New York City's most important project.  Upon completion the WTC will add millions of square feet of new office space, which will lead to more jobs and more demand for TriBeCa property.

Sunday, February 13, 2011

New York Commercial Property Report

Manhattan tops in multi family transactions in 2010
According to Ariel Property Advisors, Manhattan was New York City's most active borough in multi family transactions in 2010.  Total transactions totaled $2.1 billion spread across 170 buildings with an average price of $440 per square foot.  Second was Brooklyn with 99 trades totaling $360 million.

Mortgage rates rising

U.S. Treasury yields and bond markets

CNNMoney article - mortgage rates, driven by yield on the 10-year Treasury, is rising because of improving economy and because rates are so low they have nowhere to go but up.  The national average 30-year mortgage rate reached 5.05% in Feb 11, breaking 5% for first time since May 2010.  Some predict the rate to increase to 5.5% to 6% by end of 2011.

Thursday, February 10, 2011

Manhattan Hotel for Sale $29 million

Our exclusive listing 120 Lafayette St, New York, NY 10013, which is a 28 room hotel plus 10 retail stores, has received significant inquiries since being featured in The Real Deal and New York Times.   Along with the inquiries are offers that are being negotiated.

Saturday, February 5, 2011

Most popular rental neighborhoods

Love this graph on the most popular rental neighborhoods in Manhattan and boroughs.  Also shows the most desired amenities by renters.  Published by Naked Apartments.