Press Reports


Recent Articles

See More See Less

2018

Show Press Hide Press
12.9.18
12.8.18
12.7.18
12.7.18
12.7.18
12.7.18
12.7.18
12.6.18
12.6.18
12.5.18
12.5.18
12.3.18
12.3.18
12.1.18
12.1.18
12.1.18
NAR vs. the naysayers
The Real Deal
11.30.18
11.29.18
11.29.18
11.29.18
11.27.18
11.23.18
11.23.18
11.23.18
Send in the Stagers
The New York Times
11.21.18
11.21.18
11.20.18
11.19.18
11.17.18
11.17.18
11.16.18
11.16.18
11.16.18
11.16.18
11.13.18
11.11.18
11.10.18
11.9.18
11.9.18
11.9.18
11.9.18
11.8.18
11.8.18
11.8.18
11.8.18
11.7.18
11.6.18
11.6.18
11.4.18
11.2.18
11.2.18
11.2.18
11.2.18
11.2.18
11.2.18
11.1.18
11.1.18
10.31.18
10.31.18
10.31.18
10.29.18
10.29.18
10.27.18
10.26.18
DONE DEALS: Harlem block buster
Real Estate Weekly
10.26.18
10.26.18
10.26.18
10.25.18
10.25.18
10.24.18
10.24.18
10.22.18
10.19.18
10.19.18
10.19.18
10.19.18
10.19.18
10.18.18
10.18.18
10.18.18
10.18.18
10.18.18
10.17.18
10.17.18
10.17.18
10.17.18
10.16.18
10.16.18
10.15.18
10.15.18
10.12.18
10.12.18
10.12.18
10.11.18
10.10.18
10.10.18
10.10.18
10.10.18
10.9.18
10.8.18
10.8.18
10.6.18
10.5.18
Done Deals: Asked and Answered
Real Estate Weekly
10.5.18
10.4.18
10.4.18
10.4.18
10.4.18
10.3.18
10.3.18
10.3.18
10.3.18
10.2.18
10.2.18
10.1.18
10.1.18
STYLE RETURNS TO NEWSSTANDS WITH A SUPERHERO NUMBER
Il Corriere Della Sera Italian Men's Magazine
10.1.18
9.30.18
9.30.18
9.29.18
9.28.18
9.28.18
9.28.18
9.27.18
9.27.18
9.26.18
9.25.18
9.25.18
9.25.18
9.21.18
9.21.18
9.21.18
9.21.18
9.20.18
9.20.18
9.20.18
9.19.18
9.19.18
9.19.18
Done Deals
Real Estate Weekly
9.19.18
Done Deals
Real Estate Weekly
9.18.18
9.17.18
9.17.18
9.15.18
9.15.18
New Listings
Real Estate Weekly
9.15.18
New Listings
Real Estate Weekly
9.14.18
9.14.18
9.13.18
9.13.18
9.13.18
9.13.18
9.13.18
9.13.18
9.13.18
9.13.18
9.13.18
9.13.18
9.12.18
9.12.18
Ready For His Close-Up
Cottages & Gardens
9.12.18
9.8.18
9.8.18
9.7.18
9.7.18
9.7.18
9.7.18
9.6.18
9.6.18
9.5.18
9.4.18
9.4.18
How to Invest in Luxury Real Estate
U.S. News and World Report
9.3.18
9.3.18
9.2.18
9.2.18
9.2.18
9.1.18
9.1.18
9.1.18
9.1.18
9.1.18
8.30.18
8.30.18
8.29.18
8.29.18
8.27.18
8.27.18
8.24.18
8.24.18
8.24.18
8.23.18
8.22.18
8.21.18
8.21.18
8.19.18
8.18.18
8.17.18
8.17.18
8.16.18
8.15.18
On the Market in New York City
The New York Times
8.15.18
8.15.18
8.14.18
8.13.18
8.13.18
8.13.18
8.12.18
8.11.18
8.11.18
8.10.18
8.10.18
8.9.18
8.8.18
8.8.18
8.7.18
8.7.18
8.7.18
8.5.18
8.4.18
8.4.18
8.2.18
8.2.18
8.2.18
How to Glow from Head to Toe!
ABC Morning Blend
8.1.18
8.1.18
8.1.18
8.1.18
8.1.18
8.1.18
8.1.18
8.1.18
8.1.18
7.30.18
7.29.18
7.28.18
7.28.18
7.25.18
7.25.18
7.25.18
7.22.18
7.20.18
7.20.18
7.20.18
7.19.18
7.19.18
On the Market
The New York Times
7.19.18
7.18.18
7.18.18
7.18.18
7.17.18
7.13.18
7.13.18
7.12.18
7.12.18
7.11.18
7.11.18
7.10.18
7.9.18
7.6.18
The Rise of the Single Female Homeowner
US News and World Report
7.5.18
7.5.18
7.5.18
7.3.18
7.2.18
7.2.18
7.2.18
7.1.18
No longer New Yorkers
The Real Deal
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.29.18
6.28.18
6.27.18
6.27.18
6.27.18
6.27.18
New Listings
Real Estate Weekly
6.27.18
6.26.18
6.26.18
6.26.18
6.26.18
6.25.18
6.22.18
6.22.18
6.21.18
6.21.18
6.19.18
6.15.18
6.15.18
6.14.18
6.13.18
6.13.18
6.13.18
New Listings
Real Estate Weekly
6.13.18
6.12.18
6.12.18
The Guide to First Time Homebuyers
U.S. News & World Report
6.11.18
6.8.18
6.8.18
6.8.18
6.6.18
6.6.18
6.6.18
6.4.18
5.29.18
5.29.18
5.29.18
5.29.18
5.3.18
4.19.18
4.17.18
3.27.18
3.22.18
3.16.18
3.16.18
3.14.18
3.13.18
2.25.18
See More See Less

2017

Show Press Hide Press
10.16.17
10.15.17
10.12.17
10.4.17
8.22.17
8.22.17
8.22.17
8.22.17
8.12.17
7.21.17
7.14.17
7.7.17
7.7.17
7.6.17
7.6.17
7.6.17
7.6.17
Congratulations (Again), Wendy!
Wall Street Journal
7.5.17
6.28.17
6.27.17
6.20.17
6.14.17
6.13.17
Warburg And Wallack Partner
CityBizList NYC
6.12.17
6.9.17
6.8.17
6.8.17
6.8.17
6.7.17
5.23.17
5.19.17
5.18.17
5.18.17
5.17.17
5.17.17
5.12.17
5.10.17
5.9.17
5.4.17
4.23.17
4.21.17
4.21.17
4.20.17
4.19.17
4.18.17
4.18.17
4.18.17
4.17.17
4.17.17
4.14.17
4.12.17
4.7.17
4.1.17
3.10.17
3.10.17
Prewar Is So Last Year
New York Times
3.2.17
3.2.17
2.21.17
2.7.17
2.6.17
2.2.17
1.31.17
1.24.17
1.20.17
On the Market
The New York Times
1.11.17
1.5.17
1.4.17
1.1.17
1.1.17
See More See Less

2016

Show Press Hide Press
12.29.16
12.13.16
12.13.16
12.6.16
12.1.16
11.30.16
11.28.16
11.27.16
11.22.16
11.18.16
11.18.16
11.9.16
11.4.16
On the Market
The New York Times
11.4.16
10.31.16
10.31.16
10.30.16
10.28.16
10.7.16
On the Market
The New York Times
10.4.16
9.30.16
9.25.16
9.23.16
9.19.16
A Water Skier Seeks Higher Ground
The Wall Street Journal
9.13.16
9.9.16
Where to Live? Ask an App
The New York Times
9.1.16
8.5.16
8.2.16
8.2.16
7.27.16
7.21.16
7.19.16
Kowalczuk and Compton join Warburg Realty
New York Real Estate Journal
7.11.16
7.1.16
6.24.16
Once and Always a New Yorker
The New York Times
6.16.16
Dream Homes
New York Post
6.16.16
6.10.16
Industrial Elegance in SoHo
The New York Times
6.1.16
6.1.16
Living Large in Manhattan
CASTLES Magazine
6.1.16
5.26.16
5.26.16
5.25.16
5.17.16
5.16.16
5.13.16
5.13.16
Priced Out of My Childhood Home
The New York Times
5.6.16
The Golden Mean
Metropolitan Magazine
5.6.16
5.6.16
Featured Property: 150 Reade Street
Metropolitan Magazine
5.6.16
Soiree at 150 Charles
Metropolitan Magazine
5.6.16
Best in the West: 150 Charles, M9
Metropolitan Magazine
5.6.16
5.1.16
5.1.16
5.1.16
4.13.16
4.12.16
4.11.16
4.8.16
4.8.16
4.6.16
4.6.16
4.5.16
4.1.16
4.1.16
4.1.16
4.1.16
4.1.16
4.1.16
4.1.16
3.31.16
3.31.16
3.30.16
3.30.16
New Listing: 30 West Street
Real Estate Weekly
3.28.16
3.25.16
Fusco joins Warburg Realty
New York Real Estate Journal
3.23.16
Who’s News: Mary Anne Fusco
Real Estate Weekly
3.23.16
New Listing: 39 Vestry Street
Real Estate Weekly
3.17.16
Dream Homes
New York Post
3.16.16
3.15.16
3.10.16
3.10.16
Dream Homes
New York Post
3.8.16
3.8.16
3.7.16
3.1.16
3.1.16
NYC Premier Properties
Luxury Listings NYC
3.1.16
Deeds & Dont’s
New York Cottages & Gardens
2.26.16
Executive Moves
Crain's
2.24.16
Sugar Hill condos hit market
Real Estate Weekly
2.18.16
2.17.16
New Listing: 475 Park Avenue
Real Estate Weekly
2.17.16
2.17.16
2.12.16
2.12.16
2.11.16
2.10.16
2.9.16
2.5.16
2.5.16
2.5.16
Big Ticket
The New York Times
2.3.16
2.3.16
2.1.16
2.1.16
1.29.16
1.27.16
1.22.16
The Art of Home Staging
The New York Times
1.20.16
Unfailingly Vibrant in The West Village
Private Air Luxury Homes
1.15.16
1.15.16
1.13.16
1.12.16
1.10.16
Something about a quick deal
Luxury Listings NYC
1.10.16
Premier Properties
Luxury Listings NYC
1.10.16
Premier Properties
Luxury Listings NYC
1.8.16
1.6.16
1.5.16
1.5.16
1.4.16
1.1.16
The interest rate upshot
The Real Deal
1.1.16
See More See Less

2015

Show Press Hide Press
12.23.15
12.22.15
12.22.15
12.21.15
12.21.15
12.18.15
On the Market
The New York Times
12.18.15
12.10.15
12.10.15
12.10.15
12.1.15
Haber inks a book deal
The Real Deal
12.1.15
12.1.15
12.1.15
11.30.15
11.27.15
11.25.15
11.25.15
11.24.15
11.18.15
Symposium
Metropolita
11.18.15
New Listings
Real Estate Weekly
11.17.15
11.13.15
11.12.15
11.11.15
11.9.15
11.9.15
11.4.15
11.3.15
11.3.15
11.3.15
11.3.15
11.2.15
11.2.15
11.1.15
11.1.15
11.1.15
10.28.15
10.25.15
On the Market in New York City
The New York Times
10.23.15
10.22.15
10.22.15
10.21.15
10.21.15
10.20.15
10.16.15
10.14.15
10.12.15
10.6.15
10.6.15
10.2.15
10.1.15
In their words…
The Real Deal
10.1.15
9.30.15
9.23.15
9.22.15
9.14.15
9.11.15
9.11.15
9.9.15
9.3.15
9.3.15
9.2.15
9.1.15
8.28.15
8.21.15
8.21.15
8.21.15
8.21.15
8.20.15
8.18.15
8.18.15
8.14.15
8.13.15
8.13.15
8.11.15
8.7.15
8.7.15
8.7.15
8.5.15
8.4.15
8.1.15
8.1.15
Win now, decide later
The Real Deal
7.28.15
7.27.15
7.24.15
7.23.15
7.21.15
7.20.15
7.13.15
7.12.15
7.8.15
7.7.15
7.6.15
7.6.15
7.5.15
7.3.15
7.1.15
7.1.15
7.1.15
7.1.15
7.1.15
6.29.15
6.28.15
6.26.15
6.25.15
Fishman joins Warburg Realty
New York Real Estate Journal
6.25.15
6.24.15
6.23.15
6.22.15
6.22.15
6.19.15
6.18.15
6.18.15
6.17.15
6.17.15
6.17.15
6.17.15
6.16.15
6.16.15
6.16.15
6.12.15
6.12.15
6.12.15
6.9.15
6.5.15
6.5.15
6.5.15
6.3.15
6.3.15
6.3.15
6.3.15
6.2.15
6.1.15
6.1.15
5.30.15
5.29.15
5.28.15
5.28.15
5.27.15
5.27.15
5.26.15
Home Prices Continue to Climb
Wall Street Journal
5.21.15
$21.5 million Manhattan townhouse is a steal?
CNBC Secret Lives of the Super Rich
5.20.15
5.18.15
5.18.15
5.18.15
5.16.15
5.15.15
5.15.15
5.15.15
5.14.15
5.8.15
5.4.15
5.1.15
5.1.15
5.1.15
5.1.15
5.1.15
5.1.15
Manhattan Market Watch: Moving Tips
Mann Report Residential
5.1.15
5.1.15
4.30.15
4.30.15
4.28.15
4.24.15
4.22.15
4.21.15
4.16.15
4.15.15
4.14.15
4.13.15
4.12.15
4.12.15
4.3.15
4.3.15
4.3.15
4.2.15
4.1.15
4.1.15
4.1.15
4.1.15
3.20.15
3.19.15
3.17.15
Lauren Bacall’s Apartment
Top Ten Real Estate Deals
3.13.15
3.12.15
3.3.15
We Hear…
New York Post
3.3.15
3.3.15
3.2.15
3.1.15
EXTRA! EXTRA! READ ALL ABOUT IT IN 2015
Mann Report Residential
3.1.15
3.1.15
2.26.15
2.25.15
2.20.15
On The Market In New York City
The New York Times
2.19.15
2.17.15
2.11.15
2.5.15
2.5.15
2.3.15
2.2.15
2.2.15
Fixer-uppers gain appeal
The Real Deal
2.1.15
2.1.15
1.30.15
1.29.15
1.25.15
1.16.15
1.16.15
1.12.15
1.7.15
1.7.15
1.6.15
1.6.15
1.6.15
1.5.15
See More See Less

2014

Show Press Hide Press
12.29.14
12.29.14
12.26.14
On the Market: Sutton Place
The New York Times
12.23.14
12.17.14
12.1.14
Prime Rates
Gotham
11.26.14
11.24.14
11.14.14
11.12.14
11.11.14
11.6.14
Houses of the Week
New York Post
11.5.14
11.1.14
11.1.14
10.31.14
10.31.14
10.31.14
10.24.14
10.24.14
10.20.14
10.17.14
10.15.14
10.14.14
10.9.14
10.1.14
10.1.14
10.1.14
9.20.14
9.19.14
9.10.14
9.10.14
9.4.14
9.1.14
Doubling Down On Cuomo
The Real Deal
8.26.14
8.23.14
8.22.14
8.8.14
8.8.14
8.6.14
8.1.14
7.28.14
7.23.14
7.14.14
7.9.14
7.3.14
7.2.14
7.1.14
7.1.14
7.1.14
7.1.14
7.1.14
6.30.14
6.24.14
6.13.14
6.4.14
6.1.14
5.30.14
5.21.14
5.21.14
5.16.14
5.16.14
5.6.14
Profile: CLAIRE GROOME
New York Family
5.1.14
4.20.14
4.16.14
4.9.14
4.7.14
Dads of Real Estate
New York Family Magazine
4.7.14
4.6.14
4.1.14
3.30.14
3.28.14
3.26.14
3.25.14
3.25.14
3.25.14
3.12.14
Sales Updates – Harlem
The Real Deal
3.10.14
3.10.14
3.1.14
3.1.14
2.26.14
New Listings: Beekman
Brokers Weekly
2.20.14
2.14.14
2.5.14
2.1.14
2.1.14
1.29.14
1.29.14
1.29.14
1.29.14
1.29.14
1.27.14
1.14.14
1.14.14
1.3.14
1.3.14
1.1.14
See More See Less

2013

Show Press Hide Press
12.30.13
12.19.13
12.4.13
Gotta get gund
New York Post
11.26.13
11.26.13
11.15.13
11.15.13
11.12.13
11.8.13
11.6.13
10.31.13
10.30.13
10.27.13
10.25.13
10.21.13
10.16.13
10.11.13
10.7.13
10.7.13
Park Manhattan is Sold Out!
Mann Report Residential
10.1.13
10.1.13
10.1.13
Sales in the City – Summer 2013
Residency NY Magazine
10.1.13
Sales in the City – Fall 2013
Residency NY Magazine
9.27.13
9.21.13
9.19.13
9.12.13
9.11.13
9.11.13
9.10.13
9.9.13
9.1.13
8.27.13
8.27.13
8.26.13
8.19.13
8.19.13
8.18.13
8.1.13
EVERYONE IN THE POOL!
Mann Report Residential
8.1.13
8.1.13
7.18.13
7.8.13
7.2.13
7.1.13
6.23.13
6.21.13
6.9.13
6.4.13
6.2.13
5.31.13
5.23.13
5.19.13
On the Market: Kips Bay Co-op
The New York Times
5.14.13
5.9.13
5.8.13
5.1.13
5.1.13
4.30.13
4.18.13
4.10.13
4.8.13
4.8.13
4.4.13
4.1.13
4.1.13
4.1.13
3.23.13
3.18.13
3.17.13
3.7.13
Dream Homes
New York Post
3.5.13
3.1.13
3.1.13
2.26.13
2.22.13
Houses of the Week
New York Post
2.22.13
2.13.13
Properties of the Month
Avenue Magazine
2.12.13
2.11.13
2.8.13
Dear Owner: Please Sell
The New York Times
2.5.13
2.4.13
2.4.13
2.1.13
2.1.13
2.1.13
Warburg Honors Top Agents of 2012
Mann Report Residential
2.1.13
1.31.13
1.15.13
1.1.13
1.1.13
1.1.13
1.1.13
1.1.13
1.1.13
See More See Less

2012

Show Press Hide Press
12.31.12
12.23.12
12.21.12
12.11.12
12.6.12
Who’s News
Brokers Weekly
12.4.12
11.27.12
11.26.12
11.1.12
10.10.12
Who’s News
Real Estate Weekly
10.1.12
10.1.12
Just Sold!
New York Post
10.1.12
9.24.12
9.12.12
9.12.12
9.4.12
8.24.12
8.21.12
8.20.12
8.9.12
8.8.12
8.4.12
8.2.12
8.1.12
8.1.12
Alicia Corpening Joins Warburg Realty
Mann Report Residential
7.19.12
Dream Homes
New York Post
7.9.12
7.1.12
6.22.12
6.21.12
Houses of the Week
New York Post
6.14.12
6.13.12
6.8.12
6.8.12
6.1.12
5.18.12
5.17.12
Dream Homes
New York Post
5.15.12
5.15.12
5.9.12
5.4.12
5.2.12
5.1.12
Pricey Co-ops Find Buyers
The Wall Street Journal
5.1.12
5.1.12
5.1.12
4.1.12
3.25.12
3.24.12
3.16.12
Have a Drink, Buy Some Art, Get a Condo
New Construction Manhattan
3.11.12
House of the Week
New York Post
3.8.12
3.1.12
3.1.12
3.1.12
2.28.12
Dream Homes
New York Post
2.26.12
2.22.12
2.2.12
2.2.12
2.1.12
1.22.12
1.18.12
1.4.12
1.1.12
See More See Less

2011

Show Press Hide Press
12.31.11
12.29.11
2011: The Year of the Turndown
The New York Times
12.22.11
12.16.11
12.7.11
12.5.11
12.2.11
12.1.11
Dream Homes
New York Post
11.23.11
Should You Buy a House?
Go Girl Finance
11.22.11
11.21.11
11.1.11
10.31.11
10.28.11
10.28.11
10.21.11
10.12.11
Celebrity Real Estate
Epoch Times
10.1.11
9.23.11
9.23.11
9.22.11
Sightings
New York Post
9.21.11
9.12.11
Bahamas’ Albany Continues to Grow
World Property Channel
9.1.11
Manhattan Market Watch: A FINE ROMANCE
Mann Report Residential
8.30.11
Living on the Park
Promenade
8.3.11
8.1.11
7.24.11
7.8.11
Trio Seeking Second-Time Chelsea Charm
The Wall Street Journal
6.27.11
6.14.11
6.14.11
6.14.11
6.5.11
5.27.11
5.26.11
5.23.11
5.12.11
Houses of the Week
New York Post
5.12.11
Emerging Neighborhoods
New York Times - Homes Magazine
5.10.11
5.8.11
5.1.11
5.1.11
4.28.11
4.12.11
4.6.11
4.6.11
4.6.11
4.1.11
4.1.11
3.20.11
3.17.11
3.15.11
3.14.11
3.10.11
3.8.11
3.1.11
3.1.11
3.1.11
Moving On Up
New York Family
2.28.11
Q&A with Deborah Lupard
Tribeca Citizen
2.27.11
2.22.11
On the Market
The New York Times
2.13.11
2.9.11
Uptown Upturn
New York Magazine
2.7.11
2.4.11
2.4.11
2.2.11
2.1.11
2.1.11
1.26.11
1.21.11
1.21.11
1.20.11
Ellington on the Park
Harlem Bespoke
1.19.11
1.14.11
1.6.11
1.3.11
1.1.11
1.1.11
What to expect this year
The Real Deal
See More See Less

2010

Show Press Hide Press
12.14.10
12.1.10
11.1.10
10.31.10
10.28.10
10.14.10
9.10.10
9.3.10
Flip-Flopping on Flip Taxes
The New York Times
9.1.10
9.1.10
8.24.10
8.13.10
8.11.10
8.2.10
8.1.10
8.1.10
7.26.10
7.20.10
7.16.10
7.15.10
Houses of the Week
New York Post
7.2.10
6.25.10
Some Condos Avoid Shoals
The Wall Street Journal
6.23.10
New Appraisal Rules Irk Some Brokers
The Wall Street Journal
6.20.10
Caught in the Web
The New York Times
6.1.10
Manhattan Market Watch: ON NEGOTIATING
Mann Report Residential
5.27.10
5.23.10
5.23.10
5.9.10
5.7.10
5.6.10
5.1.10
4.29.10
4.28.10
4.16.10
4.12.10
4.12.10
4.12.10
4.9.10
4.2.10
4.2.10
4.2.10
Time to relist?
The Real Deal
4.1.10
4.1.10
3.29.10
3.19.10
3.17.10
3.9.10
Real Brokers of NYC
Brokers Weekly
3.5.10

Warburg Realty Second Quarter 2013 Market Review

July 8th 2013

CityBizList

By Frederick W. Peters

The second quarter trajectory of New York real estate fell into two distinct categories this year: before the Memorial Day holiday and after it. While there continues to be competitive bidding for some well-priced properties, the turn into summer represented by Memorial Day weekend removed much of the urgency from our marketplace, just as it had two years ago. So in analyzing the quarter we need to look at April and May as one marketplace and June as a subtly different one.

The quarter began with a bang. Resale inventory has remained at record lows, and there is not enough new construction to close the gap. Strong activity drove the markets almost regardless of property class; one of the distinguishing characteristics of April and May was the increased interest in smaller units. One bedroom apartments, which had lingered on the market during much of 2012, began moving off the shelves earlier this year, and that trend accelerated in the second quarter. The two bedroom market, both prewar and postwar, was on fire. Standard four and a half room apartments in postwar buildings on Third Avenue have seen 80 people at first open houses followed by six or eight offers within 48 hours. And it seems that every property in Brooklyn attracts a horde of buyers who must have it. From apartments to houses, the prices in Brooklyn have risen at dizzying rates since January 1, with some areas seeing overbids of 15% or more on homes which were fully priced to begin with.

Interestingly, the activity has been somewhat more muted at the upper end of the co-op marketplace. These properties, for which the buyers are generally New Yorkers, trade only when they offer a clear relationship to the purchasers’ expectations of value. It is not unusual these days for the units at the top of this marketplace to be on the market for 20, 30, even 50 weeks before finding a buyer. This is particularly true if they require renovation. In many of these buildings, with their summer work rules, renovation can add two years to an anticipated move-in date.

Agents see an increasing bifurcation between the co-op and condo markets, resulting from the huge foreign investment pouring into condos but not appropriate for most co-ops. Such buildings as One Fifty Seven and 432 Park are demonstrating again the enormous appetite foreigners have for ultra-luxury midtown property. Sales are also booming at Carlton House on 61st and Madison, while the fabulous ceiling heights and finishes at Walker Tower, on West 18th Street, have shattered previous price-per-square-foot records in Chelsea. At the same time, sales have been slower at 530 Park, 737 Park, and 150 East 72nd Street, where buyers have been less enthusiastic about layouts or ceiling heights and have felt that the pricing was excessive. Today, even with the huge influx of flight capital into our city, it seems developers have to get it exactly right to achieve the highest prices.

As in 2011, the market took a bit of a breather after Memorial Day. That is not to suggest that transactions ceased occurring, merely that the pace slowed and a certain amount of urgency departed the marketplace. Open house attendance dropped substantially (though that has tended to mean that now a first open house sees 20 or 30 visitors rather than 60 or 70) and the offers are a little slower coming in. That said, properties with strong perceived value are still receiving multiple offers, and my agents are still spending their days putting together best and final financial packages or reviewing letters of introduction from buyers. The change is mainly in feeling – buyers are more prepared to take a little time to review their options. And many sellers, reading in the media about huge price increases and marquee deals (which often have absolutely nothing to do with the sub-markets into which their own properties fall), are pricing far ahead of the market, thus slowing the pace of sales as buyers wait for the price and the reality to come more into alignment.

During the summer of 2012 the pace of sales never flagged; we had our busiest August ever. I don’t anticipate that level of activity this year. Real estate is once again being purchased by multinationals and locals alike as a bedrock alternative investment, and buyers prefer, if the market permits, to make deliberate choices about such investments. I think July and August will see steady activity, still driven by lack of inventory in most property classes, leading into a brisk fall. Economically the worldwide situation, although improving, remains uncertain, and New York, more than ever, is a vibrant national and international center. What we see here today is not a bubble. The purchase of New York real estate represents a deliberate decision to invest in an asset class, scarce and well priced by international standards, providing a hedge against the volatility of the bond and securities markets. And there’s a bonus: you get a great place to live!

Reset Password

Start an account to create alerts and save your searches and more...

Get notified when new listings match your saved searches.
Save listings and get updated of any changes in price, status and new open houses.
Hide listings that aren't for you so you don't have to see them over and over again.
Get recommendations and stay up-to-date with your dashboard.

Start an account to create alerts and save your searches and more...

Get notified when new listings match your saved searches.
Save listings and get updated of any changes in price, status and new open houses.
Hide listings that aren't for you so you don't have to see them over and over again.
Get recommendations and stay up-to-date with your dashboard.

Sign in instantly with Facebook or Google!

Or sign up the old fashioned way