West Side up again

Manhattan condominium sales, as measured by the RPX transaction count, increased 1.3 percent year over year
through the end of June. This summer has seen a rapid increase in the rate of condominium sales. From the end of
April to the end of June, the transaction count increased 27.4 percent, the largest increase over this period since 2004.

The largest gain was in the Upper West Side, for which the RPX price increased 25 percent to $1,098.90 per
square foot.

Good news and not surprising. As far as prices that those say would bottom out; I've been hearing that since I was a kid and the city still survives. As one who lived through the miserable Mayor Beame years, I don't panic.

Kind of like the economy of Manhattan.
December to June we watched business move positive along with local employment.
July and August were stinkers and that's about the best I can say for the summer business.
As to the future......?
As for the Mayor Beame years...most did not panic, they moved away. I don't think that will recycle because much of what drove the exodus had to do with quality of life issues which revolved around crime and economy. The 70's brought store gates that were solid not bared (called riot gates). This period peaked with the type of 'Bernie Getes' fear that drives pseudo normal folks to carry illegal hand guns coverting the subway into the wild west.
Those days are long gone. The element that gave birth to those problems has been displaced by education, emmigration and increase prosperity across the board. The city is just not the haven for low income individuals that it once was.
My memory goes back to to Ranger & Knick games at the Garden. The creep factor orbiting the Garden was out of control. People were mugged walking out from Penn Station on the steps walking toward the Garden entrance ON 7TH AVENUE! I do miss the street hookers of Park Avenue south for the brazen fashion and there Delancy Street push cart style of hawking services. Another NY classic was that tiny cobble stone portion of Kenmare between Bowary and Chrystie streets. You would get caught at the light at Bowary and wheel chaired stinkies with missing pieces would roll out to your car window shaking that dirty Burger King cup full of coin. Needless to say we all miss the many dedicated car window washers that were out in all weather keeping the windshields of the big city clean (sort of).

falco; spot on. As I tell my friends in such discussions, it was a ride and a half, but look at this place now. Presently it has become the very place that my great grand parents had told me about as they would complain about the loss of their city. I think they would be quite pleased if they were to get a load of this now.

falcogold1: It is so nice to see an insightful and coherent entry here! Several of my 718-516-631-201 area code friends have moved into Manhattan in the last year because the pricing here has become less outrageous, and several others are actively looking.

If this small sample of individuals and families are any indication, there are people waiting to get properties (buy or rent) in Manhattan, which would support the perspective many people here refute with passion--that the Manhattan RE market IS different from others!

Now, I don't know what this would do to the RE markets in 718, 516, 631, and 201...

"The largest gain was in the Upper West Side, for which the RPX price increased 25 percent to $1,098.90 per
square foot."

So, UWS *condos* were at $878 psf last year?

Holy moly...

wasn't that worse than any other neighborhood sourth of 96th?

and don't miss the headline...

"Prices Have Shown Improvement, but are Still Well Below Pre-Bust Levels"

What is the big woop? We are talking condominiums. Currently, SE lists 219 condos for sale from W 67 to
W 100 St. There are 501 coops listed. Wonder what prices have done there. Is it possible that as economic times become more uncertain, condominiums, with the ability to sublet, are even more desirable?

se, if you look at Radar Logic's map, their definition of "the Upper West Side" includes the 10025 zip code, a large part of which is north of 96th Street and chunks of which are South Harlem.

ali r.
DG Neary Realty

So, basically, this thread is useless...