When it comes to Manhattan real estate, timing is everything. If you bought an apartment in the borough a decade ago, you should be very happy indeed: The average sales price in Manhattan in 2011 of $1,426,912 is a whopping 80% higher than the average in 2002, according to a new report from Prudential Douglas Elliman. “The big message is: steady, steady, steady, safe, safe safe,” said Steven... [more]
When it comes to Manhattan real estate, timing is everything.
If you bought an apartment in the borough a decade ago, you should be very happy indeed: The average sales price in Manhattan in 2011 of $1,426,912 is a whopping 80% higher than the average in 2002, according to a new report from Prudential Douglas Elliman.
“The big message is: steady, steady, steady, safe, safe safe,” said Steven James, president of the Manhattan brokerage firm for Prudential Douglas Elliman.
Of course, if you purchased at the peak of the market in 2008, when the average price for an apartment was $1,591, 823, you’re not as lucky. Prices are off by about 10%.
http://bestplaces.nydailynews.com/stories/prices-manhattan-apartments-surge-80-10-years[less]
Response by Riversider
almost 14 years ago
Posts: 13572
Member since: Apr 2009
In general, the more affluent an area, the more its real estate has held up, Miller said. Manhattan has also benefitted from limited supply and active foreign buyers, who have helped spur healthy sales at the high end.
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Response by w67thstreet
almost 14 years ago
Posts: 9003
Member since: Dec 2008
Speaking of the past to pump up his position. That's so Lawrence Yun of you, you gold tooth dealing nazi sympathizer jewish person.
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Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009
get lost you crybaby stinkape!
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Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009
"Speaking of the past to pump up his position..."
the stinkape cried early childhood poverty, on that inonada thread.
He's the son of immigrants.
And he calls others on se hypocrites.
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Response by w67thstreet
almost 14 years ago
Posts: 9003
Member since: Dec 2008
Truth and Riversider friends. Sweet justice! :) awesome!
Wtf is stinkrape?
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Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009
GET LOST YOU CRYBABY STINKAPE!
"Stinkrape" is what you did to that monkey on Animal Planet.
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Response by columbiacounty
almost 14 years ago
Posts: 12708
Member since: Jan 2009
hmmn. truth and the biggest liar. a match made.....?
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Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009
Riversider:
I'm busy for a while in the real world today.
Please try to find the u-tube link of that sleeping doormouse that was shown on Anderson Cooper last night, and post it on that inonada "how to piss away..." thread.
Thanks.
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Response by huntersburg
almost 14 years ago
Posts: 11329
Member since: Nov 2010
>“The big message is: steady, steady, steady, safe, safe safe,” said Steven James, president of the Manhattan brokerage firm for Prudential Douglas Elliman.
What the heck does that mean?
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Response by huntersburg
almost 14 years ago
Posts: 11329
Member since: Nov 2010
columbiacounty, don't you think that w67thstreet can defend himself?
Maybe you ought to defend yourself instead.
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Response by Eric_14
almost 14 years ago
Posts: 93
Member since: Sep 2011
Let me take small step out of the toilet.
We all know that averages mean nothing in real estate. A few whopper sales and the average blows up. A change in mix and the whole story gets confused. So, let's see if we can learn anything from the report.
On page 6, we can calculate the changes in median sales price for different sized apartments.
Studios up 72%
1 BRs up 66%
2 BRs up 62%
3 BRs up 34%
4+ BRs up 37%
That's not bad, but Mr. James probably should be somewhat less exuberant, especially at the high end.
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Response by memito
almost 14 years ago
Posts: 294
Member since: Nov 2007
Trillions of welfare dollars for the richest of the rich and Manhattan prices are up JUST 80% since 2001.
Frankly, I am surprised it isn't up far more given how we have socialized losses and artificially pumped up economies with our "free-money-for-morons" policies.
I will say it again, and no one will admit it, but Manhattan owners have become the greatest "Cadillac-driving welfare mothers" in our history. They are just too proud or ignorant to admit it.
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Response by dealboy
almost 14 years ago
Posts: 528
Member since: Jan 2011
I am up only 50%. FML. At least my monthly cost is about 1/2 of market rent. I still got that.
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Response by Brooks2
almost 14 years ago
Posts: 2970
Member since: Aug 2011
wait- where is the data coming from? that's right real estate brokerage cos. We all know how biases there data is. get to specifics and we all realizes prices are not up 80%
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Response by Brooks2
almost 14 years ago
Posts: 2970
Member since: Aug 2011
For all of you RE brokers out there what does up 50% then down 36% equal?
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Response by Brooks2
almost 14 years ago
Posts: 2970
Member since: Aug 2011
How about this. if you had a $1000 and made 5% risk free per year for 10 years? How much would you have after 10 years?
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Response by Brooks2
almost 14 years ago
Posts: 2970
Member since: Aug 2011
with reinvestment of interest of course
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Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009
huntersburg: It sounds like something Rick James would say while freebasing.
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Response by huntersburg
almost 14 years ago
Posts: 11329
Member since: Nov 2010
Brooks, one train leaves Washington DC going 100 miles per hour northbound, while another one leaves Philadelphia heading south at 80 miles per hour. Where would they be in 10 years if their speed increased 5% per year compounded?
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Response by Brooks2
almost 14 years ago
Posts: 2970
Member since: Aug 2011
Probably not in NYC RE
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Response by Riversider
almost 14 years ago
Posts: 13572
Member since: Apr 2009
How about this. if you had a $1000 and made 5% risk free per year for 10 years? How much would you have after 10 years?
Well the ten year yields 2% so at that rate 35 years to double.
The premise is wrong of course, you can't make 5% risk free.
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In general, the more affluent an area, the more its real estate has held up, Miller said. Manhattan has also benefitted from limited supply and active foreign buyers, who have helped spur healthy sales at the high end.
Speaking of the past to pump up his position. That's so Lawrence Yun of you, you gold tooth dealing nazi sympathizer jewish person.
get lost you crybaby stinkape!
"Speaking of the past to pump up his position..."
the stinkape cried early childhood poverty, on that inonada thread.
He's the son of immigrants.
And he calls others on se hypocrites.
Truth and Riversider friends. Sweet justice! :) awesome!
Wtf is stinkrape?
GET LOST YOU CRYBABY STINKAPE!
"Stinkrape" is what you did to that monkey on Animal Planet.
hmmn. truth and the biggest liar. a match made.....?
Riversider:
I'm busy for a while in the real world today.
Please try to find the u-tube link of that sleeping doormouse that was shown on Anderson Cooper last night, and post it on that inonada "how to piss away..." thread.
Thanks.
>“The big message is: steady, steady, steady, safe, safe safe,” said Steven James, president of the Manhattan brokerage firm for Prudential Douglas Elliman.
What the heck does that mean?
columbiacounty, don't you think that w67thstreet can defend himself?
Maybe you ought to defend yourself instead.
Let me take small step out of the toilet.
We all know that averages mean nothing in real estate. A few whopper sales and the average blows up. A change in mix and the whole story gets confused. So, let's see if we can learn anything from the report.
On page 6, we can calculate the changes in median sales price for different sized apartments.
Studios up 72%
1 BRs up 66%
2 BRs up 62%
3 BRs up 34%
4+ BRs up 37%
That's not bad, but Mr. James probably should be somewhat less exuberant, especially at the high end.
Trillions of welfare dollars for the richest of the rich and Manhattan prices are up JUST 80% since 2001.
Frankly, I am surprised it isn't up far more given how we have socialized losses and artificially pumped up economies with our "free-money-for-morons" policies.
I will say it again, and no one will admit it, but Manhattan owners have become the greatest "Cadillac-driving welfare mothers" in our history. They are just too proud or ignorant to admit it.
I am up only 50%. FML. At least my monthly cost is about 1/2 of market rent. I still got that.
wait- where is the data coming from? that's right real estate brokerage cos. We all know how biases there data is. get to specifics and we all realizes prices are not up 80%
For all of you RE brokers out there what does up 50% then down 36% equal?
How about this. if you had a $1000 and made 5% risk free per year for 10 years? How much would you have after 10 years?
with reinvestment of interest of course
huntersburg: It sounds like something Rick James would say while freebasing.
Brooks, one train leaves Washington DC going 100 miles per hour northbound, while another one leaves Philadelphia heading south at 80 miles per hour. Where would they be in 10 years if their speed increased 5% per year compounded?
Probably not in NYC RE
How about this. if you had a $1000 and made 5% risk free per year for 10 years? How much would you have after 10 years?
Well the ten year yields 2% so at that rate 35 years to double.
The premise is wrong of course, you can't make 5% risk free.
10 years ago you could
Even with a tuna-melt-down.