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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