Current Market for Manhattan Real Estate

didnt bracha average about 200+ transactions or so in past few years? roth/sporn advertises they do over 300 deals a year.

So we should expect, especially when stocks surge 50% in 5 months and Manhattan experienced a wave down in pricing, which none of these brokers saw coming, Bracha's team and presence to average about 16-17 deals a month

sorry, his site says "Experienced with over 500 transactions a year, Ilan and his team provide the full scope of residential brokerage and marketing services to both renowned and first-time developers as well as individual buyers and sellers."

Excuse me for being inquisitive, but that would mean an average of 41 deals a month, or 10 a week. It seems he is using his normal activity to mislead people into thinking the market is getting hot again, and to buy now before its too late, especially his new Loft 14 project.

the agenda seems perfectly clear, no? its not that buyers are buying despite tough times, they are buying because we have seen a 20-35% reduction in prices - again, something that was never discussed before hand. That may affect business. Funny how that works

All brokers have a single simple agenda, dont they? Well two: 1) extract money from clients regardless of tactic and 2) ensure the business structure survives.

Let's face it, the NYC real estate market is locked up by a collusive and anti-competitive brokerage industry...

You are a broker too urbandigs, so..... cum grano salis.

"After taking Loft 14 just two months ago, Bracha Group has signed 3 contracts in the past week alone!"

By all means, update the loft 14 status.

http://www.streeteasy.com/nyc/building/135-west-14-street-new_york

I expect units 7 and 8 that are "in contract" to soon be shown "closed" and not either "no longer available" or "delisted" and you may want to show there is still action on the building. :)

So true Noah. To paraprhase a previous post: "Prices are going up, it's a great time to buy! Are prices going down? No, of course not, it's a great time to buy! Did prices go down? Yes they did, which is why it's a great time to buy! Are they going to keep going down? No, of course not, it's a great time to buy! Did they go down some more? Yes, which is why it's an even better time to buy!"

I feel better than ever that prices will continue slide.

bracha bough in 310 east 53 aqnd the trump building at the top and has been HOSED!!! no rentals -- empty spaces... Slimy....

any "frontline" reports out there?

yes, please tell us what you are seeing out there!...I sound like "curbed". I luv how they try to sound so clever and witty.

steve - now don't go trying to rehijack the thread back to your original question. The original hijack into an anti-broker thread was working just fine.

here's a frontline report for ya which is reality..

*FED SAYS BANKS TIGHTENED LENDING IN QUARTER THROUGH JUNE
*FED SAYS BANKS FORESEE TIGHT LENDING INTO SECOND HALF OF 2010
*FED SAYS BANKS REPORT `DETERIORATING CREDIT QUALITY'
*FED SAYS BANKS CITE `MORE UNCERTAIN ECONOMIC OUTLOOK'

hot off the bloomberg presses for ya

So true Noah. To paraprhase a previous post: "Prices are going up, it's a great time to buy! Are prices going down? No, of course not, it's a great time to buy! Did prices go down? Yes they did, which is why it's a great time to buy! Are they going to keep going down? No, of course not, it's a great time to buy! Did they go down some more? Yes, which is why it's an even better time to buy!"

lol.

At least SteveF is consistent in his complete inaccuracy!

gcondo - yes Im a broker. and yes for 3+ years I have written almost daily on what I see out there in the market, with the hopes of making this market more transparent and what the front lines are seeing as they occur.

why would I care about the structure, and its survival, if I went a totally different route and fully plan a whole new model around REMOVING myself from the brokerage transaction? I have a feeling you have not been reading my site for that long. If you did, you would know my work for buyer clients is not to extract their money using any tactic possible.

Urbandigs

You don't have to defend yourself. Your posts are always balanced. Even when you lean in a direction, or a position I disagree with, you lean lightly and open minded.
At the very least....diplomatic.
You are very much an asset to the community and are appreciated.

his blog is the worst. i had to stop reading after some post called help me help you in like february. he was so clearly trying to jump on the 'blogs about real estate' bandwagon after the fact.

and i truly feel sorry for anyone who thinks buying a unit at loft 14 is a good idea

I think the market must be going gang busters. I called an agent last week to set up a showing. She didn't call back until today. This was the discussion almost verbatim. Before I even expressed an interest in seeing it, these were the first words:

Her: You know the apartment faces north
Me: I didn't realize that, you know a light apartment is a priority for me
Her: Well, it is very light. You know the same apartment two floors higher sold in June for $1.9 and it didn't have a storage bin, so we expect the same price.
Me: Really. Well I know they paid $1.53 in late 2007, that is quite a nice profit. They are not negotiable?
Her: Well, somewhat, but not much. You know this is a great building and it is in a park block.
Me: Well, West 81st Street is a beautiful park block and I've noticed prices are off their 2007 highs on that block.
Her: Well, good luck to you. click.

The apt. has been on the market a week and they are pre screening on price on the phone. They must be extremely confident. Do you think it would have helped if I had blurted out my net worth on the phone? Jeez. If I fell in love with the apt. who knows, I might have paid their price. I've done it before but those were different times. I'm getting closer and closer to renting.

apt23
"I've done it before but those were different times. I'm getting closer and closer to renting."

Not the end of the world. My lease is up in november and I was hopeful to be in a purchase by then.
But given the attitudes of some sellers and brokers in the last month, I have no problem renting another year or at least committing to another year.

Jasonkyle
Loft 14
The apartments are actually nice, the block is abysmal. Some could actually deal living there. Not at 1300 per foot though. At 700 per foot, sure.

i didn't really like the apartments. the bedrooms felt too small. did you see unit 9 with the all glass bathroom that faced 14th street? holy exposure!

LOL yes I did. I don't know what they were thinking with that bathroom.
And the apartments (especially #9) felt smaller than the floorplans indicated.
But they are well built. Ive seen much worse new contruction than this one.

I didn't dissect the floorplans like I do other apartments because the asks were so overboard for this building I didn't see a reason to bother until they came down to earth.