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Manhattan Condo Market Index
VIX collapsing, flippers asking 20%+ in less than 6 months...
Here we go again...?
Well maybe you are right but all the fairly new luxury buildings downtown seem to have inventory and a lot of them are over 100 days which they sometimes they change to rentals - also the ones in contract stay in contract for months and months.
Maybe there is a rush to buy, but a lot of the below seem to have some shuffling going from sale to rental to sale again. There is buying and selling as I have been watching since the summer but also a lot of the apartments listed are ones I saw in September. Today street easy shows 7 new listed and 1 sold. Does anyone understand how the sponsors aren't hurting from the carrying costs when they have had them for years. Any answers? Do they write off carrying costs?
Sales listings: 15 active,
Rentals listings: 31 active, 3
99 John Street
Sales listings: 21 active,
Rentals listings: 26 active
Sales listings: 20 active,
Rentals listings: 50 active,
Sales listings: 35 active,
Rentals listings: 24 active
Sales listings: 18 active, 7
Rentals listings: 18 active,
downtown has continually been a problem, dating back to before 9/11--sandy was the final blow
hot nabes are ramping, threatening 07 highs--not hot nabes are still as much as 25% off 07 peak
1. the buildings you cite were all affected by Hurricane Sandy
2. 88 Greenwich was closed after the hurricane by the Dept. of Buildings
3. also FIDI is not really a hot neighborhood
4. all the action is during trading hours
5. when people sit on benches looking upwards for short-sellers "bailing" out of the market