2011 has kicked off with a bang in both sales and rentals. In fact, I think this has been the busiest January I have seen in well over a decade. Early January is typically slow when people are returning to work, but this year the company has been exceptionally busy right out of the gate!
On the rental side: the market remains very tight in the neighborhoods most typically demanded (e.g. Soho, Noho, Tribeca, East Village, LES, West Village, Gramcery, UES, UWS) and vacancy rates remain very low. Landlords are offering some incentives in certain neighborhoods where there exists more inventory (e.g. Roosevelt Island, some midtown West). As always, you can contact me to find the best values out there at any particular point in time. There are more details in the Q4 market report (see below).
On the sales side: sellers have become more realistic and have by now mostly adjusted their asking prices to a point in line with what buyers are willing to pay. Conversely, buyers are realizing that interest rates are no longer going done, prices are no longer going down, and that the current market is a healthy one and great opportunity to buy. An appropriately priced Manhattan property will sell quickly in the current market. And I can help a well-qualified purchaser find an exceptional deal -- there are still many out there!
Citi-Habitats has been getting an incredible amount of press coverage in just about every prominent publication that covers the real estate industry: WSJ, Crain’s, Bloomberg, The Real deal, Curbed, Daily News (see below for links to all articles).
The 4th Quarter and Year-End Residential Rental Market Report is now posted on www.Citi-Habitats.com. To check out the report on our site, visit: http://www.citi-habitats.com/market.php.
Selected 1/12/11 Press Coverage
Thursday, January 13, 2011
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