Serious question

Who are those people, brokers?
The market is falling, no end near.

switel
3 minutes ago
ignore this person
report abuse Who are those people, brokers?
The market is falling, no end near.

Brokers, and anyone else who is paying attention. A solid 10 up from 24 months ago.

There are comps in the niche market I watch (3br+ UWS) that bear out a 10+% rise. That rise may not be a real rise as much as a seasonal swing w/o a new financial armageddon.

aawww, mrs. Rhino86 rocks!

I'm not sure if I'm supposred to limit replies to the direct comps to Rhino's rental (pre-wars 2 beds zoned for PS6, or whatever the right definition would be), but going a bit outside that profile (condo, 3 bed, PS198), here's one pair.

181 East 90th; early 2000's vintage condo at 90th and Third.
http://streeteasy.com/nyc/building/the-metropolitan-181-east-90-street-new_york

03/16/2011 #19C $3,325,000
11/30/2010 #22C+ $3,125,000

Slightly lower floor and no storage room (the '+' in 22C+ is a storage room. Last two standalone sales of storage rooms were for 29k and 28k) for 6.4% higher price.

Youre not supposed to limit comps to my rental....but you are supposed to compare sales to sales... Is 6% the best around? Not sure thats even statistically significant.

Rhino: sidelinesitter is good for it. Specify. He means no ill-will.

I mean no ill will either. Sidelinesitters datapoint is okay...

Rhino: I know.
sidelinesitter got up and came in from the sidelines to offer that datapoint for you.

There's several threads already with *lots* of comps. Looking at one of them would probably be more helpful than trying to get people to re-post in a new one.

Truth: nothing special about the datapoint. The sale happened to be the top item on the "Recent Recorded Sales" list on the SE homepage on Saturday. I looked at it and noticed the recent same-line comp. Looking closer, the real before-and-after perspective on this line is between March and April 2009 contracts at $2.55mm and $2.8mm and 5 sales since then (including the two that I cited) at between $3.1mm and $3.4mm.

My general impressions are that UES pre-war coops haven't really come back but new/recent dev condos have been a bit stonger. I don't know about 10% through. That sort of feels like a round number that people throw out when they think prices have firmed up but it isn't clear how much. I think the pre-war impression is loosely supported by some of West81st's posts on the UES comps thread, while the latter is mostly my gut feel from surfing SE. The SE condo index, also featured on the home page and using a Case-Shiller-ish methodology, shows +7% in the last year. While their sample size may still be fairly small, it's a lot bigger than the a-comp-here-and-a-comp there approach.