The Manhattan housing market...

"And rental apartments are clearing the market at $550/ft."....what is that referring to?...

am Zell Dances On Harry Macklowe’s Face
2/3/10 at 10:09 AM 9Comments

Photo: Steve Kagan/Getty Images
Gnomish billionaire Sam Zell — who once bragged that people called him the “grave dancer” for “dancing on the skeletons of other people’s mistakes,” according to Deal Journal — has purchased two of developer Harry Macklowe's New York properties for $475 million, a 50 percent discount on what Macklowe paid for them back in 2007. [Deal Journal/WSJ]

Read more: Sam Zell Dances On Harry Macklowe’s Face -- Daily Intel http://nymag.com/daily/intel/2010/02/sam_zell_dances_on_harry_mackl.html#ixzz0ebfF0uYV

RE it has been always cyclical. Your long, loud, capitalized post actually can be interpreted this way: during the next decade it will most likely likely stay flat (if it doesnt go down a bit more, which I think it will)

mimi, streeteasy capitalizes titles automatically...

btw, isn't it the ELF grave dancer?

is he a runt?

Right, I didn't capitalize anything. Therefore, I don't think you can call it LOUD. Also, its a simple lift from an Elliman piece. w67 says its elf, but I agree with the author, I think he is more gnomish. I do agree it can go nowhere from 2009 to 2019, by way of a substantial dip from here. I think its kind of interesting that a rental building actually sold for $500/ft....and $500/ft is where we were 10 years ago on the coop price psf...and also that rents are where they were 10 years ago. I mean if we shouldn't be $500/ft....what should we go to, $700/ft?

can you make the thread title longer enxt time? It was not long enough.

> I think he is more gnomish

lol

> can you make the thread title longer enxt time? It was not long enough.

Alpo also wants you to make it dumber.

Sad sad Alpo.

so your still peddling your crap about rents being the same as they were in 2000? Where did you learn this? From Glenn Beck's chalkboard?

It was quoted in the Times. It came from an industry source. I know that doesn't have the same weight as the stuff you an LICC pull out of your ass.

http://www.nytimes.com/2010/01/24/realestate/24cov.html?scp=1&sq=rents%202000%20levels&st=cse

Here you go shit for brains. Learn something for once.

president...are you saying you dont believe rents are the same as in 2000?...

I know for a fact that the condo i rented in 2000 for 2850 can be rented at just about that now......and i thought some charts show nominal rents flat over ten years

The promotions at new buildings will undoubtedly also help keep prices down elsewhere in the city. Marc Lewis, the president of Century 21 NY Metro, estimated that rents had dropped to 2000-era levels. He said they were not likely to climb anytime soon.

The funny thing Jim I don't think he knows where rents are vs. where they were in 2000. I think he just likes to dispute my sources based on his own nothing.

He dont need no stinking charts.

post a link to Lewis' comments or else zip it.

Dog-boy, I did. Shut your mouth and get hooked on phonics. Reading is fun for Jersey-mentals.

You've proved your lack of worth time and time again. I just such ignorant and insistent people such as you and LIC drip funny as shit. People heap steaming piles of shit and fact in your sorry faces, and you keep coming back.

so rather than admit that you pulled that info out of your ass and have no link, you resort to childish attacks.

How slowly do I need to speak for you to understand? The link is above. The quote is from the story that you will find if you click the link. Are you new to web browsing?

Does anyone have a link to the actual data?

why are you so interested in Manhattan RE when you said you were going to buy in CT?

I'm done with you now.

True, SE does capitalize. It is the unbearable lenght of the title that made it look big and loud.
I agree with you, Rhino in most of your posts, though sometimes there is a certain NY testosterone overload that I can live without.

Ummm.... then do live without it, I guess.

Yeah, I was lazy about clipping this down. Does anyone have any actual view on the relevance, if any, of Zell's purchase price in the $500/ft range, and the doubling of values against flat rents over the last 10 years. $1100 cant be the 'right' price.

Rhino86,
Don't you just think it's a matter of time for RE to reset at levels that would equal equilibrium between rents and sale value?
In other words...it's just a matter of time.

i stopped looking to buy when i realized alcove studio apartments will never go below 400k...

are these duplicate threads?
http://streeteasy.com/nyc/talk/discussion/18354-the-manhattan-housing-market-has-been-a-great-investment-over-the-past-decade-as-the-market-has-gone-through-a-lot-of-changes-condo-sales-began-the-decade-with-a-40-market-share-over-co-ops-and-ended-with-a-54-market-share-housing-prices-have-doubled-with-and-aboutreadys-toilets-were-still-overflowing-per-square-foot-of-an-apartment-rising-1056-but-aboutready-wasnt-working-and-relying-on-her-husband-despite-getting-an-education-at-yale-even-though-she-cant-speak-proper-english

The touch of a woman still eludes you, huh?

What? Have you beat anyone up today?

Do you beat up women?

or just threaten them?

another duplicate thread?

http://streeteasy.com/nyc/talk/discussion/18357-please-stop-making-very-long-threads-they-are-childish-and-annoying-they-consume-a-lot-of-space-and-a-re-difficult-to-read-you-are-spamming-the-forum-and-being-inconsiderate-to-your-fellow-street-easy-posters-please-limit-thread-titles-to-2-lines-and-put-the-remainder-of-the-message-in-the-comment-you-are-all-acting-childish-and-even-though-i-am-being-a-hypocrite-by-typing-this-very-long-thread-title-thats-because-anytime-i-play-your-game-i-win-my-thread-titles-will-always-be-the-longest-when-i-want-them-to-you-people-seriously-need-to-get-a-life-outside-of-street-easy-and-why-is-rhino-posting-here-if-he-is-going-to-buy-i-connecticut-can-someone-finally-answer-this-question-for-me

>> Ummm.... then do live without it, I guess.

Self-referntial post of the day. :)

"so your still peddling your crap about rents being the same as they were in 2000? Where did you learn this? From Glenn Beck's chalkboard? "

Wait, is "THE MARKET IS NOT DOWN 20%! SHOW ME JUST ONE EXAMPLE!" alpo REALLY the one complaining about someone else'e grip on stats?

lol

Notice how difficult it was to get him to read...and then how quickly he had me moving to CT.