Wishing everyone a peaceful, prosperous 2014! Another SE year under our belt to reflect on what the NYC real estate market did and speculate on where it's going. The 2009 bottom is still holding, calls for $500 F2 have not materialized, equities have been gang busters. Bidding wars on Crown Heights homes?! The cyclical bull appears to be in good shape. When does it move the other way? I'm looking... [more]
Wishing everyone a peaceful, prosperous 2014! Another SE year under our belt to reflect on what the NYC real estate market did and speculate on where it's going. The 2009 bottom is still holding, calls for $500 F2 have not materialized, equities have been gang busters. Bidding wars on Crown Heights homes?! The cyclical bull appears to be in good shape. When does it move the other way? I'm looking forward to a flatter market, I think things cool off this year.
We made 50% more offers this year with roughly the same total sales as last year. Looking forward to a more normal sales market, better for our clients and us! 90% of all offers submitted in 2013 ended in a best and final. Brooklyn by far was the most active (read crazy!) Market. LIC surprised the he'll out of me, IMHO it has become a stable, desirable neighborhood. We had a number of clients that gave up on Brooklyn for LIC.
I did some reflecting, my first apartment in NYC (1982) was at 188 Norfolk, $300 a month for approx. 900f2.Walking to the Mudd club on white street at night was quite dicey,scary. Cars were burning, abandoned on ave C daily, the line for dope on 2nd Street and B wrapped around the corner. A little later, circa 1988 our UES friends thought we sent our son to school in a dangerous neighborhood, West Village Nursery School. When we ate at Montrechet in Tribeca, diners would wait for their car to be pulled up front and be escorted in/out. They were afraid to venture onto the mean streets of Tribeca.
NYC...you've come a long way baby!
Cheers!
Keith Burkhardt
The Burkhardt Group
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Response by NYCMatt
over 12 years ago
Posts: 7523
Member since: May 2009
Those were the days!
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Response by Truth
over 12 years ago
Posts: 5641
Member since: Dec 2009
And that's the way it was back in those 1980's days. You missed out on the NYC of the 1970's.
Happy New Year to you and yours, KeithB. (and to you, NYCMatt)
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Response by NYCMatt
over 12 years ago
Posts: 7523
Member since: May 2009
Thank you, Truth! You too!
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Response by KeithB
over 12 years ago
Posts: 976
Member since: Aug 2009
I glimpsed nyc in the 70's. In high school I silk screened obscure punk bands and sold the shirts at Bleecker bobs and a few other shops, I was 16. I would trek from Nutley, NJ to Eisenhower brothers on Orchard street, they thought who is this crazy goyem? But I kept going and the old man took a liking to me, would sell me 1/2 dozens, they rarely if ever did this. I walked past vans lined up on Allen street, finally realized they were utilized by working girls and their pimps.Orchard street was magical to me though.No Hasidem in Nutley (:
Those were the days!
And that's the way it was back in those 1980's days. You missed out on the NYC of the 1970's.
Happy New Year to you and yours, KeithB. (and to you, NYCMatt)
Thank you, Truth! You too!
I glimpsed nyc in the 70's. In high school I silk screened obscure punk bands and sold the shirts at Bleecker bobs and a few other shops, I was 16. I would trek from Nutley, NJ to Eisenhower brothers on Orchard street, they thought who is this crazy goyem? But I kept going and the old man took a liking to me, would sell me 1/2 dozens, they rarely if ever did this. I walked past vans lined up on Allen street, finally realized they were utilized by working girls and their pimps.Orchard street was magical to me though.No Hasidem in Nutley (:
Eisner brothers!
Happy New Year to ALL. 2014 is superb!
KeithB: lol!