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LIBERTINED
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Discussion Starter · #1 ·
Moin,
I thought, NYC being arguably the hottest real estate market in the world, competing with few others, it makes sense to have a general thread for statistics, questions about the market, new sales, interesting offers, pictures of apartments/buildings for sale/just sold, the most asked-for areas, or whatever is connected.

Have fun, ja! :)

Cheers from Mecklenburg, Germany.



New York Skyline by E Palen, auf Flickr
 

LIBERTINED
Joined
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Discussion Starter · #2 ·
Brooklyn waterfront / DUMBO: One of the best penthouses ever?

Living with a Manhattan view like no one else? For just $18 million, this might be yours soon! :D

An Old Clock Tower Converted Into a Penthouse













Located in the trendy DUMBO (down under the Manhattan bridge overpass) neighbourhood of Brooklyn, New York is One Main Street; a 126-unit loft conversion by David Walentas in 1998. The former cardboard box factory was originally built in 1915 and features a beautiful clock tower.

Walentas renamed it the Clocktower Building with the pi猫ce de r茅sistance being a 3-floor penthouse spanning over 6,813 square feet (633 sq. m) and defined by four 14-ft glass clocks on every wall. The three bedroom, 3.5 bathroom penthouse offers 360-degree views, soaring 16-50 ft ceilings, a glass-enclosed private elevator and a skyroof cabana and open deck.

This year, Corcoran Group Real Estate is handling the listing with an asking price of $18 million. If you or anyone you know might be interested, feel free to contact them direct.


Source and more pics: http://twistedsifter.com/2013/04/clock-tower-penthouse-dumbo-brooklyn-new-york/
 

LIBERTINED
Joined
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Discussion Starter · #4 ·
^ Thanks!

What are the current chances NYC will get hit by another bursting property bubble?
Parts of the market seem quite exaggerated, fueled by currency escapees, tax hiders and the likes.
 

pooh bear
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Unlikely. Ultra-luxury is already cooling down but there's very high demand for many tiers below that. The perception of NYC would have to completely reverse for demand from "normal people" to decrease. For example, I would love to live in NYC but rents are still going to remain at $2-3k/month for the foreseeable future, which is higher than almost every other city in the United States. Obviously, demand from the middle class is insatiable especially with a new cultural shift towards urban living, which NYC is the epitome of.
 

everywhere like such as
Joined
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Yeah, housing prices for "normal" people aren't going to go down anytime soon. At best they might plateau for the near future. What might be struggling right now is the ultra luxury, $20+ million dollar market, which is over-saturated. However, there will be a lot of new units coming online soon, especially in Brooklyn and Queens, so that might help renters and new buyers out.
 

LIBERTINED
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Discussion Starter · #7 ·
It always seems there's very little investment on the renting side of the market.
Could you provide graphics or links comparing rental apartment construction to condo/home construction?
 

everywhere like such as
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Actually the majority of new units are currently rentals. Condos/co-ops are on the rise, though.

According to the New York City Rent Guidelines Board's 2016 report, almost 60,000 new units were constructed in 2015, of which almost 20,000 were condos or co-ops. In most years, new rentals outnumbered new condos, but 2009 and 2010 were exceptions.

Total units per year:


Units that were condos/co-ops:



Source: http://www.nycrgb.org/downloads/research/pdf_reports/16HSR.pdf
 

LIBERTINED
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Discussion Starter · #9 ·
Thanks for sharing these graphics!
Wow, that really is way too few for NYC. 60k units are finished even in much smaller Berlin each year I think.
 

LIBERTINED
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Discussion Starter · #11 ·
Well, 60k residential units are built under supervision of the senate of Berlin alone until 2020, private and other construction isn't even included here. (Source)
I was mistaken though, the number of finished units was lower for 2015. Though usually the dwellers per unit number is higher in Berlin as compared to the mentioned cities.

But German cities have always been more keen on the construction of rental apartments than other places in Europe or America.
 

Banned
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There are only two big cities in US one is Washington and other is NewYork city as new city is the known the hub of the world economies where the future of world economies are decided. The city has the world-renowned investors which keep flowing the market without any interruption.
 

Registered
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Hey guys,
I'm an amateur investors and trader. I'm looking into property development as that has always represented a large portion of my investing goals, and quite honestly I like developing. Does anyone here know of some weird strategies that are profitable? That's what I'm looking for.
 
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