Monday, March 7, 2011
New York City economy improving, townhouse sales up 61%
Summary from two Crain's articles:
1. Crucial business services sector expanding. Large corporate tenants (law firms and information based companies) seeking 250,000+ sqft office space having bidding wars.
2. Applications for private schools increased 10% after declining during the financial crisis.
3. National economy is finally picking up, US added 192,000 jobs in Feb.
4. Meanwhile, Crains also reported townhouse sales up 61% compared to 2009. Median price for single family townhouses $5.8 million, up 6% compared to 2009.
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