Wall Street Regains Its Swagger

Manhattan #1 city for renting

MSNBC ranks Manhattan as the #1 city to continue renting.  At average apartment price of $1.8 million, it takes 35 years of renting to cover homeownership expenses.

Supply vs demand

Jonathan Miller, analytical guru and CNBC regular, says that looking at sales transactions is only half the story of a market's performance.  One should look at the absorption rate because it tells the whole supply vs demand story.

Foreclosure and Manhattan

1.  In Manhattan, residential foreclosure rate is almost non existent.  Even if there are foreclosures, the properties would still get close to market price because of demand and market efficiency.  

Real Deal reports on Hotel Azure for sale at $29 million

Real Deal reports on Hotel Azure for sale at $29 million

The Real Deal, New York's top real estate magazine, reported on our listing, $29 million Hotel Azure.  The property includes a 28 room hotel and 10 retail spaces.

Manhattan housing cycle

Famous buildings and architects in Manhattan

Interesting article from AMNew York, "Rise of Starchitecture."

In the mind of Rick Bell, the executive director of the American Institute of Architects’ New York chapter, all his fellow architects are stars.

It goes without saying, however, that the firmament on Gotham’s streets and skyline has gotten a lot brighter. As uncomfortable as architects may be with the term "starchitect," the word fittingly describes design masters who create buildings that “capture the imagination” and are simply superlative, Bell said.

Of course, New York historically has had no shortage of blockbuster stars: Frank Lloyd Wright and his Guggenheim Museum and Philip Johnson and his AT&T skyline “highboy” are among many examples. Multiple forces, however, converged to give rise to the ‘starchitect’ in the modern sense, observers told amNewYork.