What year are prices back to?

so do some research. theres definitely some 2004 prints going off

Lots of variables, but my sense is that prices are back to 2004-2005 levels.

Based upon Miller Samuel Manhattan coop price per square foot we are back to 2Q,2005.

It varies tremendously by location (and even property/unit size), so a city or even borough wide average is fairly meaningless.

Sure - and you could say it's meaningless to say that the S&P 500 is up 20% this year as "it varies tremendously." But an average does give you an insight in what the market is doing "on average."

so do some research. theres definitely some 2004 prints going off

use of the securities term "prints" could be the most pretentiously annoying thing on this board (aside from nopigsorshrimp)

Topper - but you can buy a package which is the equivalent of the S&P 500 and sell it. You CAN'T do that with RE. In addition, the reasoning behind the asking of such questions is USUALLY because someone wants to use the information to make inferences regarding a unique property. i would say the same for teh S&P 500: i wouldn't use it to value any ONE of it's single elements.

If you're smart 2002!

2004 prints on the tape! 300 yards of commercial RE loans come due in 2010. gonna be a trainwreck. lots of faces gettin ripped off

agree with 2004-2005

I just sold an apartment for the price I paid for it in 3q 2006.

** same price

InvestNYC Scr: 2004-2005 can be easily found by looking on ACRIS or being a paying member of SE. Any way to substantiate your claim without giving away your identity? Otherwise, find it hard to believe unless you live in 15 CPW.

Why did you sell?

Sorry, im not going to divulge any personal info but i promise you its true, i have no reason to make it up. Its nothing special, a 1 bedroom condo, good building, uws. im not saying there are not 2004/2005 trades going on right now, im just stating what my particular situation is.

inonada- i sold now because i do believe we will hit 2004 prices very soon and probably even go a little lower.

so factoring in your transaction costs, how much did you lose?

about 10%

invest: maybe part of the discrepancy is bought very well. In spite of buying in '06, maybe you snookered one into buying at an'05 price?

Hmm, not so sure, i feel i got a good price when i bought but it wasnt any crazy below market deal. I personally do not think that the good areas of the city in good buildings have gone below 2006 prices yet but maybe my transaction is an anomaly.

there's also been less of a decline in the smaller units, due to pent-up first time buyer demand and available credit. the studios and one bedrooms held up much longer than the larger units. they still seem to be running slightly ahead of the others

Got out nicely: congrats. Were you renting it out or living there?

thanks, i believe it was the right move to sell. i was living there.

I recently sold an apartment at 40% more than I paid for it in 2008. BFD. Has no real meaning to any other sale.

Congrats to you too, 30yrs. In Manhattan? Pre-Lehman? Spill the beans, you can't leave us hanging like that...

Simple: I bought it for 50% under market.

gotta work on your bored, older rich guy shtick. plays, kind of. but not really.