Category Archives: FinancialDistrict

Which two nabes show most rental appreciation?


by  Brian Silvestry

Currently, the rental market in most of Manhattan is declining in terms of price and a record number of apartments are being rented with concessions either of free rent or other incentives. However, two neighborhoods in Manhattan saw increases in rent year over year. One was the Financial District and the other was Yorkville, the northern edge of Manhattan’s upper east side adjacent to East Harlem.

See report here from Curbed NY

Three Manhattan micro-nabes to keep an eye on


In general, most of Manhattan has appreciated over the last several years but some areas have outpaced others in terms of appreciation and residential development. Harlem is one of those areas. In 2010, I was looking at townhouse on West 136 street which could have been purchased for just under $1 million intact. Now those same buildings, a mere 5 years later are double the price.

The NYPost profiles 3 micro nabes and details what’s going on in terms of development and why the market is heating or already hot. They are not suprisingly:

1- Harlem
2- Fidi but more specifically Park Place
3- The Highline

Read the full article below

LINK

The Curved glass behind 50 West St and One57


Developers of high end property are looking for ways to push the edge and create a unique product to justify the high prices that their NYC new developments are asking. One way is to maximize views by using curved glass in a NYC condo. One57 on West 57 street aka Billionaire’s Row used it and now 50 West street uses it even more. 50 West is a 191 unit condo that is experiencing much success with 83 units already in contract ranging from 1.39million to just over $22mm for a penthouse according to Streeteasy.

50 West street rendering
50 West street rendering
50 West street in Manhattan's financial district has 83 contracts out according to Streeteasy
50 West street in Manhattan’s financial district has 83 contracts out according to Streeteasy

Continue reading The Curved glass behind 50 West St and One57