The rest of the country may be lukewarm, and some places even cold … but New York City is at the top of its game in new multi-unit residential real estate sales developments.
From 2004 – 2006, 29,245 permits were issued in New York City according to the U.S. Census Bureau.
Many fear buying because of the “slowdown market” they hear in the media. While there’s a slowdown in the residential sales market across the country …that’s not true of New York City. New York City real estate is hot right now.
Developers are building all over New York City. Halstead Property, LLC the firm that I am proud to be associated with, has established itself as a major player in this highly competitive arena of Manhattan residential brokerage, currently managing 58 new developments. Eighteen of those are completely sold out.
Many of the new Manhattan condos offer incredible amenity packages. However some of the smaller to mid-size buildings don’t feel it’s necessary.
From Downtown to Harlem, less amenities often lower sales prices and common charges. Lower prices and common charges can make a residence in an A-list neighborhood highly attractive.
Yet, there are those who don’t want the commute between Manhattan and the suburbs, and pay the price for every amenity and more.
Regardless of your amenity choices, Manhattan new housing developments are hot.
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