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http://streeteasy.com/talk/discussion/33303-downtown-the-crystal-ball-clouds-up
Talk » Sales » Discussing 'Downtown, the Crystal Ball Clouds Up '

Downtown, the Crystal Ball Clouds Up
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we welcome the cold and tired masses in yorkville

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My two-cents is that it's less about high-rise and uptown versus more sensitivity about the property's zone A-B-C designation.

"Despite predictions of a real estate recession in Manhattan after Sept. 11, co-op and condominium sales have rebounded strongly in the last two months, with the number of sales up and prices gradually rising -- in some cases even surpassing those of a year ago, when the sales market was still hot"

"Jonathan J. Miller, president of Miller Samuel, one of the city's largest appraisal companies, is more conservative. While other brokers boast of their current sales, Mr. Miller said quietly that the news is good. ''I would have imagined that with the negativity on Wall Street and with 9/11 that the real estate market would have suffered,'' he said yesterday. ''Instead, there has been a noticeable uptick in activity.''

http://www.nytimes.com/2002/03/13/nyregion/real-estate-in-manhattan-is-rebounding.html

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Yikes was it downtown?

And here is the funniest quote, from the end of that article;
"Last fall, articles were written about New Yorkers' flight to far-flung counties along the Hudson River, and to enclaves in Connecticut.
Tom Swope, a real estate agent in Claverack, N.Y., was asked if the masses had reached Columbia County. ''Not yet,'' he said. ''We're still waiting.''

Sandy will have the same lasting effects on NYC real estate that 911 and the Triangle Shirtwaist fire continue to drag us down

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>"...The telephones are not working. And it turns out that under the current schedule for repairs, Verizon will not be finished until May..."

>Uh-huh. No impact RE.

The likely impact is that rent in neighboring buildings that weren't or mildly affected by Sandy will go UP now because of the hit to inventory.
Though I don't think that's the point you incessantly try to make.

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