New Year/Inventory

2013 could be a year of additional movement for our real estate market. At this time, judging from research – it appears that inventory is somewhat low and prices have started to see some increases. While there are new listings; both cooperatives and condominiums,  the selection is still somewhat controlled. Since the  (2008 +)  economic decline, affecting new constructions and loans there was a decline in new construction, something that is also changing as of  2012, and into 2013. There are some new notable luxury condominiums splashing the midtown landscape. Additionally, the Hudson Yards appears to have approval for a 90 plus year lease deal to be able to develop residential and commercial properties, which will continue to add to the on-going revitalization of Manhattan’s undeveloped areas.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s