https://www.spreaker.com/show/the-brooklyn-made-real-estate-show
The Brooklyn Made Real Estate Show is your gateway to all the best of Brooklyn, New York. This show is sponsored by The Ratner Team; your local Brooklyn real estate experts.

We love and live for Brooklyn. So we created this show in order to support thriving local small business communities and to introduce new residents to all Brooklyn has to offer.

Each week our show will feature local professionals and Brooklyn business owners that we are eager for you to meet!]]>enSociety & CultureCopyright Brooklyn Made Real Estate Showhttps://d3wo5wojvuv7l.cloudfront.net/t_rss_itunes_square_1400/images.spreaker.com/original/b6c7af6e0d4ada1ccb9aec1965e13ecd.jpghttps://www.spreaker.com/show/the-brooklyn-made-real-estate-showThu, 13 Aug 2020 15:44:02 +0000Brooklyn Made Real Estate ShowBrooklyn Made Real Estate Showfeeds@spreaker.comWelcome to the Brooklyn Made Real Estate Show! The Brooklyn Made Real Estate Show is your gateway to all the best of Brooklyn, New York. This show is sponsored by The Ratner Team; your local Brooklyn real estate experts. We love and live for...
The Brooklyn Made Real Estate Show is your gateway to all the best of Brooklyn, New York. This show is sponsored by The Ratner Team; your local Brooklyn real estate experts.

We love and live for Brooklyn. So we created this show in order to support thriving local small business communities and to introduce new residents to all Brooklyn has to offer.

Each week our show will feature local professionals and Brooklyn business owners that we are eager for you to meet!]]>cleanepisodicBrooklyn Made Real Estate Showfeeds@spreaker.comWelcome to the Brooklyn Made Real Estate Show! The Brooklyn Made Real Estate Show is your gateway to all the best of Brooklyn, New York. This show is sponsored by The Ratner Team; your local Brooklyn real estate experts. We love and live for Brooklyn. So we created this show in order to support thriving local small business communities and to introduce new residents to all Brooklyn has to offer. Each week our show will feature local professionals and Brooklyn business owners that we are eager for you to meet!Nohttps://www.spreaker.com/user/brooklynmade/welcome-to-the-new-york-office-market-up_1edcd22e4-cb2f-4ac4-a1a6-f524c97edd05Sun, 23 Feb 2020 14:57:48 +0000Brooklyn Made Real Estate ShowWelcome to the New York Office Market Update Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves. So,...387the,tech,media,quarter,american,report,rent,advertising,time,service,brooklyn,chocolate,inc,bar,office,amazon,group,insurance,laundry,runwaycleanfullBrooklyn Made Real Estate ShowWelcome to the New York Office Market Update Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in Brooklyn Office Market? Let’s take a look at the numbers… Although more new construction inventory appears to be hitting the market, creating more available office space, asking rents just keep going up. Big players like Microsoft and JP Morgan Chase continue to be bullish on NYC real estate and office space in the Big Apple. We’ve even seen major retailers stage a comeback. That includes Nordstrom, Apple, and even a PayPal store. Still, as Brooklyn office rents begin to compete with Manhattan’s, we’ve seen more major companies move and expand to Brooklyn. Even some from Fifth Avenue and Broadway. Technology companies appear to still be the hottest and fastest-growing tenants. A group that can benefit landlords of small creative office lofts and new office buildings Around 10% of all inventory is new or is still under construction and coming to the market from now through 2024.   In Brooklyn Total inventory rose to 36.4M square feet Percentage available for lease decreased to 15.8% Absorption rate negative by 297,585 square feet Asking rents are up to $40.45 per square foot on average Asking rents in prime buildings in Bushwick and Williamsburg can be as high as $70 per square foot At least 2.9M square feet of office space is under construction   Notable construction and renovation projects include: Four new major large-scale developments hit the market in Q3 2019: Panorama - 733k square feet Dock 72 - 220k square feet 25 Kent Avenue - 508k square feet 341 39th Street, Sunset Park - 214k square feet   Notable upcoming projects include: The Wheeler in Downtown Brooklyn The Hall at Brooklyn Navy Yard 399 Sands Street 101 Fleet Place 12 Franklin Street 80 Flatbush 570 Fulton Street 625 Fulton Street Domino Sugar Factory aka Ten Grand One Willoughby Square 30-56 Gem Street 189 Pennsylvania Avenue Notable relocations and expansions from Manhattan to Brooklyn include: Rent the Runway 2U Amazon Time Inc American Transit Insurance Bauble Bar Koppers Specialty Chocolate Laundry Service Bjarke Engels Group Although delivery of new construction is expected to decline until 2022, that is forecast to be the year we’ll see the delivery of more new office space hitting the market and taking off again through 2024.   Market Factors & Economic Indicators Unemployment stood at 3.7% as of October 2019 according to the Federal Reserve Bank of St. Louis. This could be negatively impacted over the next year or two due to new rent control laws and sweeping new labor laws eliminating the freelance workforce. An estimated 60% of Brooklyn workers worked remotely in 2019. New taxes could also be a factor. In addition to SALT deduction caps and new transfer, mansion tax, and higher property taxes, as well as online sales tax, some presidential candidates are threatening an array of new real estate-related taxes and higher income taxes. All of which could negatively impact employment. While the general economy appears to be holding strong for now, the 2020 presidential election and surrounding media mayhem and fake news is likely to lure many into waiting until after the vote to make their moves. Though following the herd in this way is sure to mean many missing out on the best leasing and acquisition opportunities.   In summary… New York City office markets are perhaps in far better shape than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into or relocating Brooklyn. This, in turn, is forcing up local rents. While a surge in new deliveries of newly built and redeveloped properties may show up as historically high vacancy rates in the data, a tapering off of this activity through 2022 should...Nohttps://www.spreaker.com/user/brooklynmade/brooklyn-residential-sales-real-estate-m_3www.NewYorkMarketReports.com   Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’re keeping you up to date so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. In this Brooklyn report, we cover the average residential sales in this sprawling borough of historic brownstones, rowhouses, and exciting new developments. Keep listening for the record-high sales of this quarter.   Residential average sales prices for Q3 2019 in Brooklyn are lower compared to last year’s report, with a 7.1% percent decrease over 2018 ending up at $977,259. Median sale prices fell to $790,000 with a 2.2% drop. And this quarter, we saw a decrease of 10.4% percent in the number of transactions. Totaling 2,596 in Q3, 2019 compared to 2,898 in Q3, 2018. Properties stayed 81 days on the market in Q3 2019 vs 80 days in Q3 2018.   New Development Condo sales in this 3rd quarter sold for an average of $1,076,090 at an average of $1,047 dollars per foot. That’s in contrast to $1,240 per square foot last year. This was a 15.6% percent decrease in price per foot from the same quarter last year when the average sale price was $1,210,357. The average sales price of new condos saw a decline of 11.1%. According to this quarter’s data, these properties are spending significantly less time on the market: this year. It took an average of 114 days to sell a new development property, versus 210 days in Q3, 2019.   Existing condo sales prices are on a slight decline as well. The average condo sales price in the third quarter of 2019 was $1,053,084. A dip from $1,116,516 last year. And a 5.7% percent decline from the first quarter last year. The average marketing time for these properties decreased: 91 days on market this year, versus 92 days in Q3, 2018.   Co-op sales prices increased this quarter. Selling at an average price of $637,848 dollars—an increase of 2.5% percent from last year’s $622,021 dollars. Selling time has also increased: co-ops sat on the market for 65 days in quarter 3, as opposed to 59 days in the same quarter last year.   1-3 unit family homes performed not as good as the co-ops and saw a decrease in and an increase in marketing time. This quarter, the average 1-3 family home sale price was $1,080,728 down 8.9% percent from $1,186,423 last year. Properties, on average, were on the market for 88 days, versus 83 days last year. The number of sales decreased as well to 1,246 vs 1,513 in Q3, 2018. The data shows that 1-3 family homes under $1,500,000 are still in high demand!   In the Luxury Market this quarter, the average luxury property sales price was $2,669,402 That’s a pretty big decrease. Down 8.8% percent from last year. These properties also took longer to sell, being on the market for an average of 125 days, versus 109 days last year.   Across the board, the average recorded price discount was 0.3% percent. Yet, it is important to note that at least homes are still rising in demand and value.   Now, to Brooklyn’s top residential sales in September 2019: The top single-family sale in Brooklyn in Q3 2019 can be found in Cobble Hill. The selling price of 33 Strong Place was an incredible $3,450,000 – about $1,127 dollars per square foot.   Taking the number one spot in Brooklyn, this Cobble Hill home at 33 Strong Place boasted a selling price of $1,127 square feet.   The 3,060 square foot townhouse has 5 bedrooms, 3 bathrooms and sold in just 20 days. Bright open floor plan and good sized terraces definitely helped it sell. It is also legally two townhomes combined into one.   Greenpoint took the top condo sale of the quarter. 21 India Street Unit #38A sold for $3,535,247. This amazing unit is located at a new Greenpoint development called “The Greenpoint”.   “The Greenpoint” is a unique collection of 95 contemporary condominiums and over 350 luxury rental residences on the Brooklyn waterfront—a gateway to Manhattan and a destination in itself. Rising 40 stories in glass, steel, and brick, The Greenpoint, brings a new way of living to the neighborhood. Thoughtfully designed studio-to-three-bedroom residences offer spectacular views, airy living spaces, and excellent light. An amenity-rich lifestyle awaits with 30,000 square feet of space to live, work and play while the NYC Ferry is just outside your door offering convenient and direct access to Midtown Manhattan, Wall Street, Williamsburg, Long Island City and more. The development’s large retail component and new public waterfront park will bring additional life and energy to the increasingly vibrant Greenpoint waterfront. Strolling along the waterside boardwalks at twilight, you’ll feel all that makes Greenpoint a magical home. Amenities include: Private Porte Cochere, 24 hours Attended Lobby, Waterfront Terrace and Lounge, Co-Working Space, Billiards Room, Children’s Playroom, Fitness Center, Half, Basketball Court, On-Site Parking, Courtyard & a Sun Deck   Park Slope took first place this quarter for co-op sales. Winning a record sale for the top co-op at $2,675,000. Sprawling 3 bedrooms 2.5 bathroom apartment in a distinguished white-glove cooperative overlooking Prospect Park! Residence 11D located in the full-service 35 Prospect Park West, designed by renowned architect Emery Roth, is a stunning example of prewar elegance with a beautiful modern flair in prime Park Slope.  A wide and airy gallery welcomes you into the gracious interior graced by hardwood floors, beautiful built-ins, recessed lighting, and refined finishes. Light pours into the home from windows on triple exposures that showcase amazing views of the city and landmark architecture. The large open living and dining room at the right of the gallery is a perfect setting for relaxing and entertaining. The contemporary renovated chef's kitchen is stylishly appointed with marble countertops, tiled backsplash, and stainless steel appliances including a Wolf range and Sub-Zero refrigerator. A powder room and laundry room sit conveniently off the living area.  Three spacious bedrooms provide comfort for everyone. A private hall leads to the master bedroom with double exposures, generous closets plus a walk-in, and an en-suite bath with a soaking tub and shower, as well as to the second bedroom and shared full bathroom. Closet/storage space is exceptional throughout the apartment. This is complemented by a separate, dedicated 8'6" x 8'10" storage unit in the basement.   For bargain territory, head to East New York & Gerritsen Beach. These least-expensive residential areas in Brooklyn had a median sale price of $560,494 for a single-family home this quarter. As far as Brooklyn is concerned, that’s a bargain. So, there are still deals out there. Some properties are still in high demand and rising. Others may be settling and could signal a good time to restructure portfolios.   You can visit our website, www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. Plus, don’t miss our new 2019 News Report on Brooklyn’s Market in 2019 If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know and subscribe. We’ll put out new content and a whole new report every quarter.   You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or just acquiring an investment property?   Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.  ]]>56a33b10-d620-4d4e-9822-49eafabaf6bcFri, 14 Feb 2020 03:14:33 +0000Brooklyn Made Real Estate ShowWelcome to the Brooklyn Residential Sales Real Estate Market Report for the 3rd quarter of 2019 www.NewYorkMarketReports.com   Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’re keeping you up to date so you...www.NewYorkMarketReports.com   Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’re keeping you up to date so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. In this Brooklyn report, we cover the average residential sales in this sprawling borough of historic brownstones, rowhouses, and exciting new developments. Keep listening for the record-high sales of this quarter.   Residential average sales prices for Q3 2019 in Brooklyn are lower compared to last year’s report, with a 7.1% percent decrease over 2018 ending up at $977,259. Median sale prices fell to $790,000 with a 2.2% drop. And this quarter, we saw a decrease of 10.4% percent in the number of transactions. Totaling 2,596 in Q3, 2019 compared to 2,898 in Q3, 2018. Properties stayed 81 days on the market in Q3 2019 vs 80 days in Q3 2018.   New Development Condo sales in this 3rd quarter sold for an average of $1,076,090 at an average of $1,047 dollars per foot. That’s in contrast to $1,240 per square foot last year. This was a 15.6% percent decrease in price per foot from the same quarter last year when the average sale price was $1,210,357. The average sales price of new condos saw a decline of 11.1%. According to this quarter’s data, these properties are spending significantly less time on the market: this year. It took an average of 114 days to sell a new development property, versus 210 days in Q3, 2019.   Existing condo sales prices are on a slight decline as well. The average condo sales price in the third quarter of 2019 was $1,053,084. A dip from $1,116,516 last year. And a 5.7% percent decline from the first quarter last year. The average marketing time for these properties decreased: 91 days on market this year, versus 92 days in Q3, 2018.   Co-op sales prices increased this quarter. Selling at an average price of $637,848 dollars—an increase of 2.5% percent from last year’s $622,021 dollars. Selling time has also increased: co-ops sat on the market for 65 days in quarter 3, as opposed to 59 days in the same quarter last year.   1-3 unit family homes performed not as good as the co-ops and saw a decrease in and an increase in marketing time. This quarter, the average 1-3 family home sale price was $1,080,728 down 8.9% percent from $1,186,423 last year. Properties, on average, were on the market for 88 days, versus 83 days last year. The number of sales decreased as well to 1,246 vs 1,513 in Q3, 2018. The data shows that 1-3 family homes under $1,500,000 are still in high demand!   In the Luxury Market this quarter, the average luxury property sales price was $2,669,402 That’s a pretty big decrease. Down 8.8% percent from last year. These properties also took longer to sell, being on the market for an average of 125 days, versus 109 days last year.   Across the board, the average recorded price discount was 0.3% percent. Yet, it is important to note that at least homes are still rising in demand and value.   Now, to Brooklyn’s top residential sales in September 2019: The top single-family sale in Brooklyn in Q3 2019 can be found in Cobble Hill. The selling price of 33 Strong Place was an incredible $3,450,000 – about $1,127 dollars per square foot.   Taking the number one spot in Brooklyn, this Cobble Hill home at 33 Strong Place boasted a selling price of $1,127 square feet.   The 3,060 square foot townhouse has 5 bedrooms, 3 bathrooms and sold in just 20 days. Bright open floor plan and good sized terraces definitely helped it sell. It is also legally two townhomes combined into one.   Greenpoint took the top condo sale of the quarter. 21 India Street Unit #38A sold for $3,535,247. This amazing unit is located at a new Greenpoint development called “The Greenpoint”.   “The Greenpoint” is a...]]>556new,the,quarter,foot,report,team,brooklyn,reports,price,analysis,market,york,third,residential,q3,footage,2019,ratnercleanfullBrooklyn Made Real Estate ShowWelcome to the Brooklyn Residential Sales Real Estate Market Report for the 3rd quarter of 2019 www.NewYorkMarketReports.com   Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’re keeping you up to date so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. In this Brooklyn report, we cover the average residential sales in this sprawling borough of historic brownstones, rowhouses, and exciting new developments. Keep listening for the record-high sales of this quarter.   Residential average sales prices for Q3 2019 in Brooklyn are lower compared to last year’s report, with a 7.1% percent decrease over 2018 ending up at $977,259. Median sale prices fell to $790,000 with a 2.2% drop. And this quarter, we saw a decrease of 10.4% percent in the number of transactions. Totaling 2,596 in Q3, 2019 compared to 2,898 in Q3, 2018. Properties stayed 81 days on the market in Q3 2019 vs 80 days in Q3 2018.   New Development Condo sales in this 3rd quarter sold for an average of $1,076,090 at an average of $1,047 dollars per foot. That’s in contrast to $1,240 per square foot last year. This was a 15.6% percent decrease in price per foot from the same quarter last year when the average sale price was $1,210,357. The average sales price of new condos saw a decline of 11.1%. According to this quarter’s data, these properties are spending significantly less time on the market: this year. It took an average of 114 days to sell a new development property, versus 210 days in Q3, 2019.   Existing condo sales prices are on a slight decline as well. The average condo sales price in the third quarter of 2019 was $1,053,084. A dip from $1,116,516 last year. And a 5.7% percent decline from the first quarter last year. The average marketing time for these properties decreased: 91 days on market this year, versus 92 days in Q3, 2018.   Co-op sales prices increased this quarter. Selling at an average price of $637,848 dollars—an increase of 2.5% percent from last year’s $622,021 dollars. Selling time has also increased: co-ops sat on the market for 65 days in quarter 3, as opposed to 59 days in the same quarter last year.   1-3 unit family homes performed not as good as the co-ops and saw a decrease in and an increase in marketing time. This quarter, the average 1-3 family home sale price was $1,080,728 down 8.9% percent from $1,186,423 last year. Properties, on average, were on the market for 88 days, versus 83 days last year. The number of sales decreased as well to 1,246 vs 1,513 in Q3, 2018. The data shows that 1-3 family homes under $1,500,000 are still in high demand!   In the Luxury Market this quarter, the average luxury property sales price was $2,669,402 That’s a pretty big decrease. Down 8.8% percent from last year. These properties also took longer to sell, being on the market for an average of 125 days, versus 109 days last year.   Across the board, the average recorded price discount was 0.3% percent. Yet, it is important to note that at least homes are still rising in demand and value.   Now, to Brooklyn’s top residential sales in September 2019: The top single-family sale in Brooklyn in Q3 2019 can be found in Cobble Hill. The selling price of 33 Strong Place was an incredible $3,450,000 – about $1,127 dollars per square foot.   Taking the number one spot in Brooklyn, this Cobble Hill home at 33 Strong Place boasted a selling price of $1,127 square feet.   The 3,060 square foot townhouse has 5 bedrooms, 3 bathrooms and sold in just 20 days. Bright open floor plan and good sized terraces definitely helped it sell. It is also legally two townhomes combined into one.   Greenpoint took the top condo sale of the quarter. 21 India Street Unit #38A sold for $3,535,247. This amazing unit is located at a new Greenpoint development called “The Greenpoint”.   “The Greenpoint” is a unique collection of 95 contemporary condominiums and over 350...Nohttps://www.spreaker.com/user/brooklynmade/manhattan-residential-sales-real-estate-_3www.NewYorkMarketReports.com Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from The Ratner Team. Manhattan’s grandiose allure of culture, history, and business continues to hold an enviable position in the real estate world for buyers, owners and investors alike. Here’s the data. Just make sure you keep listening for this quarter’s record-high sales.   With an average selling price of $1,656,395, Manhattan’s Residential prices are continuing to drop over last year’s third quarter with an average price of $1,928,049. The average price-per-square-foot fell again this time by 5.3%. It’s now down to $1,524 from $1,610 a foot in Q3 2018. This may always be one of the strongest global property markets, but today’s purchasers are getting more and more floor space for their buck.   Total transactions tallied in at 2,562 this quarter, down 14.2% from a total of 2,987 sales in Q3 2018. We expect Manhattan to maintain this downtrend at least until the end of the year. This dip is happening due to a combination of oversupply of new condos in some areas, increasing interest rates and new regulations for foreign buyers, along with consumer uncertainty as to where the market is heading.   The New Development market is experiencing a correction in prices as well, the average selling price of new development condos fell 12.4% percent in this third quarter to $3,796,985. That’s versus $4,332,408 in Quarter 3 last year. Prices in this market are still falling, and the time it takes to sell is decreasing, too. The average time a new development condo spends on the market is down to around 133 days, compared to last year’s 194 days.   The data for Manhattan’s existing condominium sales is not as bad as new developments but It is also experiencing a price correction. Average sale price for condo sales ran around $2,366,833 in Q3 2019, compared to $2,661,716 dollars in 2018. However, the market time for existing condos has decreased dramatically, now averaging 95 days vs 109 days in Q3 2018. It took 14 days longer to sell a condo vs last year!   Co-op sales fell 15.30% this quarter, recording an average sales price of $1,141,148. Market time increased fractionally as well, coming in at 88 days from 79 days this time last year. If you’re seeking a more stable market, co-ops continue to be worth a look.   Of course, even with an 18.9% decrease, luxury property sales bring the most lucrative numbers this quarter. The average selling price of a luxury Manhattan property was $6,350,361, a huge difference from last year’s average of $7,831,042. Luxury properties have actually been moving almost the same as last year, staying on the market only 127 days this quarter, compared to125 days in Q3 2018. This is 1.6% lower than last year.   Across the board, the average recorded price discount was 0.1% percent.   Now for the top sales numbers for September 2019:   The well-known neighborhood of Lenox Hill topped November’s single-family residential sales. The townhouse at 18 East 73rd Street sold for $27,000,000. Manhattan’s top sale was claimed by this Lenox Hill townhouse. The expansive 10,080 square foot property offers 6 bedrooms and bathrooms. Sitting between Madison and Fifth Ave, and newly renovated in 2017. A great combination of historic architecture and clean modern finishes.   In Central Park South, the record condo sale for September 2019 goes to 220 Central Park South #56A that finalized for an incredible $41,748,250.   220 Central Park South is another signature project from master architect Robert A.M. Stern, developed by Vornado Realty Trust. The luxury residential condominium development includes an 18-story building called “the Villa” that will front Central Park alongside other comparably sized buildings. Behind the Villa is the 950-foot Tower, which will bring a total of 118 units to the high-end market. The Villa and the Tower will be connected via an arcade that includes a motor court on 58th St. The exterior features Stern’s favorite Alabama limestone punctuated with Juliet balconies, set-back terraces, and ornamental metalwork to give the new building a classic, old New York stature. The building, at 66 stories, offers grand views of Central Park.   This September’s top co-op sold in Carnegie Hill for an impressive $11,500,000 at 1175 Park Ave #9A.  Carnegie Hill took the top spot for NYC co-op sales with this 5 bedroom, 4.5 bath haven on Park Avenue. Sold at $2,704 per square foot, after being on the market for less than 60 days. Although still very dated, the unit enjoys a very modern kitchen   For bargain-seekers who still want Manhattan real estate, Washington Heights and Harlem are currently the least expensive residential areas on the island—average condos in these neighborhoods sold for $615,000 dollars in Harlem & $505,000 in Washington Heights, with average co-op sales of $375,000 in Harlem & $446,900 in Washington Heights.   You can visit our website, www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports.   Be sure to check out the new report on Manhattan’s piers - where to go, and how they are adding value to NYC’s communities.   If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know and subscribe. We’ll put out new content and a whole new report every quarter. You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Manhattan property, renting your vacant apartment, or simply acquiring an investment property?   Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.  ]]>cf59d630-2501-4925-a4b4-7efb2bc5c000Fri, 14 Feb 2020 03:09:51 +0000Brooklyn Made Real Estate ShowWelcome to the Manhattan Residential Sales Real Estate Market Report for the 3rd quarter of 2019 www.NewYorkMarketReports.com Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so...www.NewYorkMarketReports.com Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from The Ratner Team. Manhattan’s grandiose allure of culture, history, and business continues to hold an enviable position in the real estate world for buyers, owners and investors alike. Here’s the data. Just make sure you keep listening for this quarter’s record-high sales.   With an average selling price of $1,656,395, Manhattan’s Residential prices are continuing to drop over last year’s third quarter with an average price of $1,928,049. The average price-per-square-foot fell again this time by 5.3%. It’s now down to $1,524 from $1,610 a foot in Q3 2018. This may always be one of the strongest global property markets, but today’s purchasers are getting more and more floor space for their buck.   Total transactions tallied in at 2,562 this quarter, down 14.2% from a total of 2,987 sales in Q3 2018. We expect Manhattan to maintain this downtrend at least until the end of the year. This dip is happening due to a combination of oversupply of new condos in some areas, increasing interest rates and new regulations for foreign buyers, along with consumer uncertainty as to where the market is heading.   The New Development market is experiencing a correction in prices as well, the average selling price of new development condos fell 12.4% percent in this third quarter to $3,796,985. That’s versus $4,332,408 in Quarter 3 last year. Prices in this market are still falling, and the time it takes to sell is decreasing, too. The average time a new development condo spends on the market is down to around 133 days, compared to last year’s 194 days.   The data for Manhattan’s existing condominium sales is not as bad as new developments but It is also experiencing a price correction. Average sale price for condo sales ran around $2,366,833 in Q3 2019, compared to $2,661,716 dollars in 2018. However, the market time for existing condos has decreased dramatically, now averaging 95 days vs 109 days in Q3 2018. It took 14 days longer to sell a condo vs last year!   Co-op sales fell 15.30% this quarter, recording an average sales price of $1,141,148. Market time increased fractionally as well, coming in at 88 days from 79 days this time last year. If you’re seeking a more stable market, co-ops continue to be worth a look.   Of course, even with an 18.9% decrease, luxury property sales bring the most lucrative numbers this quarter. The average selling price of a luxury Manhattan property was $6,350,361, a huge difference from last year’s average of $7,831,042. Luxury properties have actually been moving almost the same as last year, staying on the market only 127 days this quarter, compared to125 days in Q3 2018. This is 1.6% lower than last year.   Across the board, the average recorded price discount was 0.1% percent.   Now for the top sales numbers for September 2019:   The well-known neighborhood of Lenox Hill topped November’s single-family residential sales. The townhouse at 18 East 73rd Street sold for $27,000,000. Manhattan’s top sale was claimed by this Lenox Hill townhouse. The expansive 10,080 square foot property offers 6 bedrooms and bathrooms. Sitting between Madison and Fifth Ave, and newly renovated in 2017. A great combination of historic architecture and clean modern finishes.   In Central Park South, the record condo sale for September 2019 goes to 220 Central Park South #56A that finalized for an incredible $41,748,250.   220 Central Park South is another signature project from master architect Robert A.M. Stern, developed by Vornado Realty Trust. The luxury residential condominium development includes an 18-story building...]]>445new,the,quarter,foot,report,team,brooklyn,reports,price,analysis,market,york,third,residential,q3,footage,2019,ratnercleanfullBrooklyn Made Real Estate ShowWelcome to the Manhattan Residential Sales Real Estate Market Report for the 3rd quarter of 2019 www.NewYorkMarketReports.com Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from The Ratner Team. Manhattan’s grandiose allure of culture, history, and business continues to hold an enviable position in the real estate world for buyers, owners and investors alike. Here’s the data. Just make sure you keep listening for this quarter’s record-high sales.   With an average selling price of $1,656,395, Manhattan’s Residential prices are continuing to drop over last year’s third quarter with an average price of $1,928,049. The average price-per-square-foot fell again this time by 5.3%. It’s now down to $1,524 from $1,610 a foot in Q3 2018. This may always be one of the strongest global property markets, but today’s purchasers are getting more and more floor space for their buck.   Total transactions tallied in at 2,562 this quarter, down 14.2% from a total of 2,987 sales in Q3 2018. We expect Manhattan to maintain this downtrend at least until the end of the year. This dip is happening due to a combination of oversupply of new condos in some areas, increasing interest rates and new regulations for foreign buyers, along with consumer uncertainty as to where the market is heading.   The New Development market is experiencing a correction in prices as well, the average selling price of new development condos fell 12.4% percent in this third quarter to $3,796,985. That’s versus $4,332,408 in Quarter 3 last year. Prices in this market are still falling, and the time it takes to sell is decreasing, too. The average time a new development condo spends on the market is down to around 133 days, compared to last year’s 194 days.   The data for Manhattan’s existing condominium sales is not as bad as new developments but It is also experiencing a price correction. Average sale price for condo sales ran around $2,366,833 in Q3 2019, compared to $2,661,716 dollars in 2018. However, the market time for existing condos has decreased dramatically, now averaging 95 days vs 109 days in Q3 2018. It took 14 days longer to sell a condo vs last year!   Co-op sales fell 15.30% this quarter, recording an average sales price of $1,141,148. Market time increased fractionally as well, coming in at 88 days from 79 days this time last year. If you’re seeking a more stable market, co-ops continue to be worth a look.   Of course, even with an 18.9% decrease, luxury property sales bring the most lucrative numbers this quarter. The average selling price of a luxury Manhattan property was $6,350,361, a huge difference from last year’s average of $7,831,042. Luxury properties have actually been moving almost the same as last year, staying on the market only 127 days this quarter, compared to125 days in Q3 2018. This is 1.6% lower than last year.   Across the board, the average recorded price discount was 0.1% percent.   Now for the top sales numbers for September 2019:   The well-known neighborhood of Lenox Hill topped November’s single-family residential sales. The townhouse at 18 East 73rd Street sold for $27,000,000. Manhattan’s top sale was claimed by this Lenox Hill townhouse. The expansive 10,080 square foot property offers 6 bedrooms and bathrooms. Sitting between Madison and Fifth Ave, and newly renovated in 2017. A great combination of historic architecture and clean modern finishes.   In Central Park South, the record condo sale for September 2019 goes to 220 Central Park South #56A that finalized for an incredible $41,748,250.   220 Central Park South is another signature project from master architect Robert A.M. Stern, developed by Vornado Realty Trust. The luxury residential condominium development includes an 18-story building called “the Villa” that will front Central Park alongside other...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-market-recap-2019-s54bb3116-8780-4a86-a76d-a4ccae37ddb1Fri, 17 Jan 2020 02:50:32 +0000Brooklyn Made Real Estate ShowWelcome to the Newest New York Real Estate Update from Brooklyn Made. This year we’ve seen more big real estate moves in play, and see developers marching on with new projects that will continue to change the skyline and living trends over the next...851estate,construction,brooklyn,home,realtor,national,real,mortgage,interest,market,amazon,manhattan,hudson,kenneth,2020,rates,zillow,2019,yardscleanfullBrooklyn Made Real Estate ShowWelcome to the Newest New York Real Estate Update from Brooklyn Made. This year we’ve seen more big real estate moves in play, and see developers marching on with new projects that will continue to change the skyline and living trends over the next few years. The data continues to show the market is changing. Though there are a variety of factors that could tip the market, either way, this year. In this special episode, we’ll dig into the latest data and the most notable trends of the year. What’s happened in 2019, what to look forward to in 2020. Plus, the most impactful factors to watch over the next 12 months. Make sure to check out our special report on the next 100 years for Brooklyn and what planning and developments are going into place to shape it and sustain its place on the map and a more prosperous community for all those that call this borough home.   The Real Estate Market in 2019 Looking back at our annual report this time last year it appears we called the market pretty well. The main theme 13 months ago was the peaking of the market. While new records were still being set, there were signs of some correcting. We’ve seen a lot of the same trends flowing through 2019. There have definitely been undeniable cracks deepening in some segments of the market. Yet, we’ve also seen some parts of the market outperform expectations, stay stronger than expected and even rebound. A dive into Brooklyn rental market statistics shows that overall the market is holding quite well, and prices are still high. Even though some gains maybe only being maintained by an equal amount of discounts, and landlord concessions. Though this gap may finally be closing. Still, it is impossible to deny that the data also shows that home sales are dropping off, more price cuts are happening, and both residential and commercial buyers and renters are gaining more negotiating power out there. Yet, on the commercial property front, America’s largest corporations show no sign of lack of appetite for new offices. In fact, some continue to set records with big, bold deals in prime locations. Factors that have been affecting the market and influencing these trends include: New construction levels Rumors of a pending recession New innovations and technology New tax laws A highly litigious business environment Returns on investment property One of the things everyone seemed to get wrong about 2019 was rising interest rates. In fact, global interest rates appear to have reversed course. Internationally negative interest rates have become more common. There has been more talk of pushing US rates to zero or below. While some mortgage rate offers are approaching the 5% range as predicted, Bankrate also reports many lenders are still offering long term fixed-rate mortgage deals at under 4% as of January 2020. Access to mortgage credit now appears to be more of a concern for 2020 than interest rates will be until at least mid-2021. 2019 brought some incredible new master-planned projects to the market in New York. They’ve added a lot of additional commercial and residential inventory to the marketplace. At least one developer has been sitting on 1,000 plus unsold luxury condos. Many have gone unsold for years. However, the amount of inventory hitting the market is expected to drop significantly this year, providing better balance in the market. Then it will grow slowly with new deliveries hitting the market more modestly though 2022. One of the most surprising and unexpected turn arounds of 2020 is retail. It’s no secret that Manhattan and even Fifth Avenue have been some of the most affected by the big shifts in retail over the past couple of years. Now, in the past few months we’ve seen a few major retailers attempting to stage a come back with brick and mortar, and even some very notable online and tech businesses setting up real shops on prime shopping strips. One of the biggest fails of the year, and perhaps the decade has been the demise of WeWork....Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_26d228dd44-47d2-4a1e-a774-72887c768fc2Sun, 22 Dec 2019 15:49:03 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s redeveloping and upgrading every day. New projects keep coming online. Despite recent...441news,commercial,apple,estate,laws,holiday,control,rent,brooklyn,square,real,crossing,market,manhattan,hudson,development,far,fifth,tribeca,nordstromcleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s redeveloping and upgrading every day. New projects keep coming online. Despite recent softness in the data, there are many encouraging signs that the worst could already be behind us. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines… The darkest days of NYC retail could be behind us. At least some major companies seem to be making a comeback. In addition to new Apple and Nordstrom stores, PayPal has decided to open a physical store this year. The digital payment company’s new location puts it right on prime 5th Avenue real estate.   The Lower East Side’s Essex Crossing Development reports it is doing well too. All but two spaces have been leased. A new food hall just opened at the development, the 150,000 square food Market Line.   Also, look out for an array of holiday markets and seasonal pop-up shops across New York City.   These include: Union Square Park Bank of America’s Winter Village at Bryant Park Grand Holiday Bazaar on the UWS Grand Central Terminal The Turnstyle Underground Market Columbus Circle Brooklyn Flea & Smorgasburg Winter Market The Handmade Cavalcade in Brooklyn Heights Brooklyn Navy-Yard Brooklyn Holiday Bazaar in Gowanus Renegade Craft Fair at Brooklyn Expo Center Greenpointers Holiday Market   Even though national retailers seemed extra desperate this year, with Black Friday sales beginning back in October, over $700B is expected to have been splurged on this key day in the run-up to holiday shopping.   For investors, the one nagging fear is new commercial rent control laws. Recent residential rent controls are already expected to have cost the city $20M in lost revenues. New commercial rent controls would cap rent increases for office and retail tenants leasing 10,000 square feet or less. As well as manufacturing tenants leasing up to 25,000 square feet.   New changes went into effect for the EB 5 visa program in November. Most notably, there is a huge jump in the minimum investment amounts foreign nationals must bring to qualify for visas. The standard minimum investment is now $1.8M. It can be as low as $900k for those in low employment areas.   A new survey from Apartment List reports that many millennials have given up on the idea of ever buying a home. They plan to become and stay renters for life. Even among those who would like to buy a home, half have zero money saved for a down payment. Just 10% have $10,000 saved.   In addition to all of the existing online review websites, New York City landlords need to be on top of new ratings coming online. This includes a new blacklist of New York City’s landlords with the worst reputation for evictions. As well as the new 2020 letter grading system which rates buildings by energy efficiency. Landlords will be required to submit their data or face fines.   For Brooklyn Real Estate News Last month we covered the new Brooklyn welcome sign in Columbia Heights, and developments at Dock 72 at the Brooklyn Navy Yards, and Fort Greene’s BAM Historic District.   The month the big news is the groundbreaking of the new Tetris looking towers at Greenpoint Landing. The mega project spans 22 acres on the water and includes a 2.5-acre waterfront park. The two towers will bring almost 750 new apartments along with almost 9,000 square feet of retail space. When completed the project will encompass 11 towers with 5,500 residential units.   In other boroughs New renderings reveal the design for the Bankside megaproject in the South Bronx. The industrial-looking glass towers cover 4.3 acres, with over 1,300 new apartments.    In Queens, an old hospital is been transformed into a new mixed-use development. However, the Far Rockaway project could take 15 years to be...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_257aa22bed-61f7-4301-8f3b-a6104cf00e01Sun, 24 Nov 2019 16:56:47 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s redeveloping and upgrading every day. New condo prices, the completion of new...466adam,commercial,sam,estate,rent,nyc,startup,growth,empty,well,real,market,hudson,skyline,greene,tower,fort,merrill,yards,nordstromcleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s redeveloping and upgrading every day. New condo prices, the completion of new projects in Brooklyn all seem to be great highlights. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines… WeWork’s failure has already cost investors billions of dollars. Softbank alone has had to write off $5B already, and even deeper cuts are likely to come as it unravels. Unfortunately, the company with great aspirations just got too big too fast and maybe a victim of its own success and lack of a sustainable business model. This sadly doesn’t bode well for others in this space like Airbnb. Of course, its CEO Adam Neuman is still making out quite well from the deal. His termination package includes getting paid $1.7B to walk away, in addition to the $700M in stock he recently cashes out. Real estate tech still continues to attract substantial investments. Appraisal startup Bowery Valuation just pulled in $8M in funding from Lightstone. Billionaire real estate investor Sam Zell who recently predicted WeWork’s collapse now says new rent control laws are having a chilling effect on property development. Blackstone just turned a $7B profit on the portfolio of office properties they bought from Sam Zell for $39B back in 2007. An amazing feat considering the intense crash that followed their historic record-setting purchase. Still, the Real Deal reports that construction spending is expected to hit $190B within the next 24 months. However, even with continued growth, construction job growth is expected to peak within the next year, especially with new technologies that are replacing workers. BisNow says that the game has officially changed for NYC landlords. Instead of it all being about location, location, location, success is now all about the product, product, product. It’s all about making the upgrades to compete with new construction. If you aren’t bringing your properties up to date leasing will be slow and rents will be low. One of the hottest emerging spaces in commercial real estate leasing today is for film studios. At least for now, all the major media companies are vying for space to produce their own streaming content. We’ve seen Robert De Niro fund new studio spaces and Netflix on a land grab. Apple TV reportedly has $6B to fund original content production. Eventually, we will probably see a major roll up and consolidation in this space as viewers get tired of paying for multiple streaming services. For now, landlords see these long leases from national credit tenants as a great thing. In other news, NY has lost its lawsuit to repeal new SALT tax deduction caps. Along with NJ, MD and CT, NY saw its lawsuit shot down by a NY federal judge at the end of September. The new rules cut the average taxpayers' SALT deductions by more than half each year, to just $10,000. All while taxes, and especially property taxes keep going up. This has forced many business owners and wealthy individuals out. All contributing to a 45% jump in empty storefronts over the past decade. There are many options NY could use to reduce the tax burden and increase retention and appeal to new investors and businesses. Adding more taxes to turn off online retailers and businesses is probably one of the worst and most counterproductive. NYC home sales have stalled out, but this is only fueling more competition for rentals. Street Easy reports this has created the fastest pace of rent growth since 2016. NW Brooklyn rents are up another 3.5% to $3,115 on average. Even submarkets are seeing rents up to $100 a year over year. It’s a trend likely to continue as buyers hold off to see where the bottom of the market will land. 2 Hudson Yards penthouses have just listed for $59M, making...Nohttps://www.spreaker.com/user/brooklynmade/brooklyn-startups-special-editionwww.BrooklynCreativeLofts.com   Well, that’s it for this month’s round-up. Look out for our other upcoming reports, and check out the latest data on the Manhattan and Brooklyn residential and multi-family market, and which features and neighborhoods are yielding the best returns at NewYorkMarketReports.com.   Thanks again to our sponsors, The Ratner Team, and SpartanRenovations.com for making these reports and delivering this valuable information possible!   Make sure you like and share this report, and leave your comments on this news, or any trends you think we overlooked or you want to hear more about in the comments section.  ]]>363e2e73f764409497011867b6086b45Mon, 21 Oct 2019 13:51:56 +0000Brooklyn Made Real Estate ShowWelcome to the newest Update from Brooklyn Made.   This month we are bringing a special episode on Brooklyn Startups!   New York has surpassed Silicon Valley as perhaps the top startup ecosystem in the world. Brooklyn is certainly a major part of...589local,media,vice,work,big,livestream,brooklyn,red,startups,spaceship,co,kickstarter,motivate,mouth,foods,huge,etsy,songkick,antler,makerbotcleanfullBrooklyn Made Real Estate ShowWelcome to the newest Update from Brooklyn Made.   This month we are bringing a special episode on Brooklyn Startups!   New York has surpassed Silicon Valley as perhaps the top startup ecosystem in the world. Brooklyn is certainly a major part of that, if not NYC’s main startup hub. We’re trendier, edgier, and far more appealing to new entrepreneurs and ventures.  Recent estimates put the number of remote or independent workers in Brooklyn at about 60%. Many of whom either have their own businesses or work in startups.  As of last year, there were 7,000 startups in NYC, 326,000 tech jobs, with over $10B being invested in local startups each year. It’s an estimated $71B sector that keeps growing. Google and other tech giants keep on making billion-dollar expansion plans in the Empire State to ensure they are close to the action.  Now let’s check out 25 of the hottest startups happening in Brooklyn now... Biolite Biolite is a cleantech startup that began with the idea of creating camping style stoves that don’t require burning fossil fuels. Their new sustainable home cooking device can eliminate fuel consumption and emissions by 90% while powering LED lights and charging mobile devices. MiMedia Downtown Brooklyn based MiMedia is a cloud storage startup for helping people upload, organize, and manage their digital possessions from their mobile devices. They offer truly private sharing and a free 10 GB of storage to get you started. CredSimple DUMBO-based Credsimple is a healthcare startup with a SaaS product for simplifying the credentialing process.  Kisi  Based in the Brooklyn Navy Yard, Kisi made the Inc. 500 list of fastest-growing companies last year. They boast that their smart keyless door lock system powered by mobile phones is used by over 300,000 customers, on almost 8,000 doors and facilitates 6.2M unlocks per month. Their partners reportedly include the US Airforce, AngelList, CBRE, and Digital Ocean. Mouth Foods E-commerce startup Mouth Foods is based in DUMBO. They’re helping small-batch food makers grow their businesses by helping consumers discover new and delicious indie foods. Check out their monthly culinary gift box subscriptions and ice coffees. They’ve been featured in Business Insider, The Wall Street Journal, Huffington Post, Travel + Leisure and The New York Times.  HowGood Greenpoint food tech startup HowGood helps provide transparency on food and its sources. Specifically, to help businesses understand and rank sources for sustainability. They rank everything from eggs to raw foods to tea. Among their partners, they count General Mills, Nielsen, and Walmart. Songkick The Brooklyn based ticket selling platform that moves more than 12 million concert tickets each month. They’ve even grown to expand and bring the service to LA, London, and Nashville. Use it to see live artists like John Legend, Metallica, YFN, and Post Malone.  TuneCore TuneCore helps music artists sell their work online and keep their profits. They’ve paid out more than a billion dollars in earnings to artists. Use it to move your work on Spotify, YouTube, Amazon Music, Apple Music, and Google. Located in Dumbo. Big Spaceship  Dumbo located Big Spaceship is a digital agency in adtech helping brands like Samsung, Capital One, West Elm, and BMW. Amplify Edtech startup, Amplify helps K-12 teachers make education more engaging for their students. They are in all 50 states and Washington DC, and over 21,000 schools across more than 9,000 school districts. Huge Dumbo’s Huge is an Adtech and branding company that was expanded to 14 locations worldwide.   Etsy  Dumbo born Etsy has been one of the great facilitators of many other new ventures all over the world. They now claim almost 30 million customers and vendors. A marketplace for finding and selling unique and handmade goods online. Now a public company traded on the NASDAQ.  goTenna Williamsburg’s goTenna helps bring connectivity when other Wifi, satellite, and mobile carriers aren’t...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_241d2d61e5af1540f8bc65c54fde471e25Mon, 30 Sep 2019 19:22:44 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s redeveloping and upgrading every day. New condo prices, the completion of new...422sugar,sam,space,estate,park,landlord,real,action,housing,office,manhattan,river,tax,carl,class,factory,domino,loft,suit,unitscleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s redeveloping and upgrading every day. New condo prices, the completion of new megaprojects in Brooklyn and office leasing all seem to be great highlights. While there are still many units that will need to be absorbed into the market, transactions seem to show continued confidence in this strong market as the status quo for the foreseeable future. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines…   WeWork’s IPO is probably the biggest news this month. The office giant has pushed ahead with getting listed on the NASDAQ despite quite vocal detractors, including millionaire commercial real estate investor Sam Zell and WeWork’s own lead investor Softbank. WeWork’s valuation has plummeted by more than 50%, from $47B to around $20B. The company is reportedly zoned in ongoing public to raise another $10B. While many are concerned that not only is the company on shaky ground, but presents a major threat to office markets in NYC and London.  It is one of the largest office landlords in the world. Yet, has a dangerous business model, which left it losing almost $1B in the first half of 2019, on $1.5B in revenues. Many worry that it is unsustainable and could drag down both the real estate market and the stock market with it. Billionaire investor and deal maker Carl Ichan is the latest notable New Yorker to make the move to South Florida, along with his company. Part of a much larger migration of businesses and wealthy individuals who have been fleeing NY’s extreme taxes, including property taxes. Ichan has offered his employees $50,000 each to help with their move, if they set up residency in Florida as well.  The industry thought it dodge the pied-a-terre tax with the last budget. With the effects of new rent controls still stinging, a renewed effort to tax real estate in NY even further is lemon juice on fresh wounds. Many are not happy about it. Many are frustrated that lawmakers just don’t see how damaging taxation and rent controls already are. We’ll have to see how this battle plays out. Despite being another big IPO that has been losing a lot of money, Uber has continued to spend big on New York real estate. Following its lease at Hudson Yards in the first quarter, the ride sharing company reportedly just signed a much larger lease at 3 World Trade. The latest figures show New York companies are spending over $1B a year on office space. A figure expected to rise by another $100M a year by 2020. Rents are up 40% since 2014, and demand may continue to keep them strong. While we recently covered the fact that a slow down in building permits and deliveries should bring balance to the market in the next few years, data suggests 25% of condo units recently coming to market remain unsold. 40% of units on Billionaire’s Row are unsold. While developers are unlikely to drop prices much, there could be plenty of incentives coming for buyers and renters.   For Brooklyn Real Estate News Another rental tower has begun leasing at The Domino Sugar Factory megaproject. The 45 story building at One South First. With current promotional deals, studio leasing prices start at around $3,500 per month.  Over at the River Park development in Cobble Hill, sales have just launched as well. There are just 48 apartments in this 20 story building. Although there are plenty of amenities to rave about, prices aren’t cheap. A 530 square foot studio starts at $1M. One of DUMBO’s last condo to loft conversions just hit the market too. One bedrooms at 168 Plymouth start at $1.4M. Williamsburg’s Moore’s Street Market is getting a nice makeover with $2.7M in donations to upgrade the indoor space that has been operating since 1941. Be sure to check out our special report...Nohttps://www.spreaker.com/user/brooklynmade/welcome-to-the-new-york-office-market-upwww.NewYorkMarketReports.com Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves.  So, what’s new in New York Real Estate? Let’s take a look at the numbers… Although more new construction inventory appears to be hitting the market, creating more available office space, asking rents just keep going up. Big players like Microsoft, JP Morgan Chase and WeWork continue to be bullish on NYC real estate and office space in the Big Apple. Among the most notable stats, this quarter is a 45% jump in new leasing in Midtown South, while Downtown Manhattan leasing fell 29% from Q1 2019. Financial West’s vacancy rates have swollen to over 22%, while Class B rents have risen to a new all-time high of $57.40 per square foot.   In Manhattan  Total inventory rose to 453M square feet Percentage available for lease is up to 9.7% Absorption was negative by over 1.6 million square feet Asking rents are up to $76.57 per foot Over 16.9M square feet of office space is under construction The highest asking rents were found in the Far West Side at $118.73 per square foot. The lowest asking rents were just $52.67 in the East Village Notable leasing activity included: Over 320,000 feet taken by AIG at the Rockefeller Center Almost 213,000 square feet taken by WeWork in Chelsea And Time Warner’s sale and leaseback of 1.5M square feet at 30 Hudson Yards     In Brooklyn Total inventory rose to 35.4M square feet Percentage available for lease rose to 17.4% The absorption rate is up Asking rents are up to $40.45 per square foot on average Office space under construction rose to 4.6M square feet   Notable leasing activity included Rent The Runway’s move from Manhattan to 10 Jay Street in Brooklyn, with 83,000 square feet of space leased.   Notable construction and renovation projects include: 540 Fulton Street Domino Sugar Factory One Willoughby Square   Deliver of new construction is expected to decline through 2022, providing more balance to the market, and potentially more fuel to raise asking rents.   In Terms of Market Factors & Economic Indicators  NYC employment stood steady at 4.6M in Q2 2019 Unemployment rose slightly to 4.3%, above the national average Vacancy rates rose to 10.5% Over 9M square feet of new office space is coming online this year. 84% of it is already reportedly pre-leased. With construction delivery expected to taper off over the next two years, landlords could find more support for even higher rents and availability tapers off.   In summary… Overall this quarter’s data show a strong first half of the year for New York City office markets. It’s perhaps in far better shape than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into or relocating Brooklyn, where rents are cheaper, and more space is available. While we should keep an eye on subleasing data, the strength of renewals, new and pre-leases suggest good balance in the market, and not much to fear from new developments coming to market. There appears to be no lack of appetite for great properties in new locations. While a surge in new deliveries of newly built and redeveloped properties may show up as historically high vacancy rates in the data, a tapering off of this activity through 2022 should bring balance again. New buildings continue to support higher asking rents per square footage. A trend likely to be further fueled as less square footage comes online. With unemployment so low, upcoming job numbers may seem lean, though there isn’t much more of the population to employ. How much more office space we will need and be able to absorb may depend on recruiting more residents to the state and continuing to make sure housing is affordable. Be sure to check out our multifamily reports for the latest data on the Brooklyn rental market. As well as BK Lofts for over 1,000 available creative lofts, private offices and art studio spaces. Find out more about the current market, competing listings, and where to get the best help in leasing or finding the space you need by contacting The Ratner Team. Make sure you check out our vendor section for all the best resources you need for renovating, financing, managing and protecting your real estate assets in New York. Plus, don’t miss our new report on Manhattan and Brooklyn Piers. Including where to go, how innovation is reinventing them as exciting places to hang out, workout and live.   Well, that’s this quarterly NYC office market update.  Leave us a comment and let us know what you are experiencing in the market, and what you’d like more detail on in the next report… Thanks for tuning in!  ]]>13f45d5014a34e658c25df1e95e39df2Fri, 06 Sep 2019 14:13:59 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest...www.NewYorkMarketReports.com Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves.  So, what’s new in New York Real Estate? Let’s take a look at the numbers… Although more new construction inventory appears to be hitting the market, creating more available office space, asking rents just keep going up. Big players like Microsoft, JP Morgan Chase and WeWork continue to be bullish on NYC real estate and office space in the Big Apple. Among the most notable stats, this quarter is a 45% jump in new leasing in Midtown South, while Downtown Manhattan leasing fell 29% from Q1 2019. Financial West’s vacancy rates have swollen to over 22%, while Class B rents have risen to a new all-time high of $57.40 per square foot.   In Manhattan  Total inventory rose to 453M square feet Percentage available for lease is up to 9.7% Absorption was negative by over 1.6 million square feet Asking rents are up to $76.57 per foot Over 16.9M square feet of office space is under construction The highest asking rents were found in the Far West Side at $118.73 per square foot. The lowest asking rents were just $52.67 in the East Village Notable leasing activity included: Over 320,000 feet taken by AIG at the Rockefeller Center Almost 213,000 square feet taken by WeWork in Chelsea And Time Warner’s sale and leaseback of 1.5M square feet at 30 Hudson Yards     In Brooklyn Total inventory rose to 35.4M square feet Percentage available for lease rose to 17.4% The absorption rate is up Asking rents are up to $40.45 per square foot on average Office space under construction rose to 4.6M square feet   Notable leasing activity included Rent The Runway’s move from Manhattan to 10 Jay Street in Brooklyn, with 83,000 square feet of space leased.   Notable construction and renovation projects include: 540 Fulton Street Domino Sugar Factory One Willoughby Square   Deliver of new construction is expected to decline through 2022, providing more balance to the market, and potentially more fuel to raise asking rents.   In Terms of Market Factors & Economic Indicators  NYC employment stood steady at 4.6M in Q2 2019 Unemployment rose slightly to 4.3%, above the national average Vacancy rates rose to 10.5% Over 9M square feet of new office space is coming online this year. 84% of it is already reportedly pre-leased. With construction delivery expected to taper off over the next two years, landlords could find more support for even higher rents and availability tapers off.   In summary… Overall this quarter’s data show a strong first half of the year for New York City office markets. It’s perhaps in far better shape than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into or relocating Brooklyn, where rents are cheaper, and more space is available. While we should keep an eye on subleasing data, the strength of renewals, new and pre-leases suggest good balance in the market, and not much to fear from new developments coming to market. There appears to be no lack of appetite for great properties in new locations. While a surge in new deliveries of newly built and redeveloped properties may show up as historically high vacancy rates in the data, a tapering off of this activity through 2022 should bring balance again. New buildings continue to support higher asking rents per square footage. A trend likely to be further fueled as less square footage comes online. With unemployment so low, upcoming job numbers may seem lean, though there isn’t much more of the population to employ. How much more office space we will need and be able to absorb may depend on recruiting more residents to the state and continuing to make sure housing is affordable. Be...]]>323facebook,tech,media,google,information,quarter,foot,report,one,per,advertising,brooklyn,price,office,market,triangle,etsy,leasing,q2,tamicleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves.  So, what’s new in New York Real Estate? Let’s take a look at the numbers… Although more new construction inventory appears to be hitting the market, creating more available office space, asking rents just keep going up. Big players like Microsoft, JP Morgan Chase and WeWork continue to be bullish on NYC real estate and office space in the Big Apple. Among the most notable stats, this quarter is a 45% jump in new leasing in Midtown South, while Downtown Manhattan leasing fell 29% from Q1 2019. Financial West’s vacancy rates have swollen to over 22%, while Class B rents have risen to a new all-time high of $57.40 per square foot.   In Manhattan  Total inventory rose to 453M square feet Percentage available for lease is up to 9.7% Absorption was negative by over 1.6 million square feet Asking rents are up to $76.57 per foot Over 16.9M square feet of office space is under construction The highest asking rents were found in the Far West Side at $118.73 per square foot. The lowest asking rents were just $52.67 in the East Village Notable leasing activity included: Over 320,000 feet taken by AIG at the Rockefeller Center Almost 213,000 square feet taken by WeWork in Chelsea And Time Warner’s sale and leaseback of 1.5M square feet at 30 Hudson Yards     In Brooklyn Total inventory rose to 35.4M square feet Percentage available for lease rose to 17.4% The absorption rate is up Asking rents are up to $40.45 per square foot on average Office space under construction rose to 4.6M square feet   Notable leasing activity included Rent The Runway’s move from Manhattan to 10 Jay Street in Brooklyn, with 83,000 square feet of space leased.   Notable construction and renovation projects include: 540 Fulton Street Domino Sugar Factory One Willoughby Square   Deliver of new construction is expected to decline through 2022, providing more balance to the market, and potentially more fuel to raise asking rents.   In Terms of Market Factors & Economic Indicators  NYC employment stood steady at 4.6M in Q2 2019 Unemployment rose slightly to 4.3%, above the national average Vacancy rates rose to 10.5% Over 9M square feet of new office space is coming online this year. 84% of it is already reportedly pre-leased. With construction delivery expected to taper off over the next two years, landlords could find more support for even higher rents and availability tapers off.   In summary… Overall this quarter’s data show a strong first half of the year for New York City office markets. It’s perhaps in far better shape than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into or relocating Brooklyn, where rents are cheaper, and more space is available. While we should keep an eye on subleasing data, the strength of renewals, new and pre-leases suggest good balance in the market, and not much to fear from new developments coming to market. There appears to be no lack of appetite for great properties in new locations. While a surge in new deliveries of newly built and redeveloped properties may show up as historically high vacancy rates in the data, a tapering off of this activity through 2022 should bring balance again. New buildings continue to support higher asking rents per square footage. A trend likely to be further fueled as less square footage comes online. With unemployment so low, upcoming job numbers may seem lean, though there isn’t much more of the population to employ. How much more office space we will need and be able to absorb may depend on recruiting more residents to the state and continuing to make sure housing is affordable. Be sure to check out our multifamily reports for the latest data on the...Nohttps://www.spreaker.com/user/brooklynmade/season-2-episode-5-interview-with-rocky-06abe482142f4173991c8b826383cc96Fri, 16 Aug 2019 15:05:11 +0000Brooklyn Made Real Estate ShowWhat am I going to give in return, aside from the love for your dog and the caring. Walk in the streets of Brooklyn or any urban area you know you have to really be a detective. It's not just looking ahead and watching out for dogs, you gotta watch...1871rock,kids,rocky,family,dogs,pets,brooklyn,friendly,walk,walking,conway,walkers,dumbo,boardingcleanfullBrooklyn Made Real Estate ShowWhat am I going to give in return, aside from the love for your dog and the caring. Walk in the streets of Brooklyn or any urban area you know you have to really be a detective. It's not just looking ahead and watching out for dogs, you gotta watch the sidewalks, the glass. Storefronts have good hearts and they leave out waterfalls in the summer. I will not let any of my dogs drink out of that. [01:00] Suzanne: Welcome to the Brooklyn made show I am Suzanne Lin. Today we're gonna be talking to a guy that well he just kind of rocks. His name is rock, Rocky Conway and he is a dog walker. [02:02] He's the owner for New York Dogs Rock in the Dumbo area. If you think it's just about walking dogs and it's an easy task and there's not a lot of skill to it, you are gonna want to stick around. Because Rocky has got a fascinating story about how he got into it. You're gonna hear his heart and his love of dogs, so let's just jump right into the show. Rock let's start off by talking about your love and passion for what you do and and how you got started? Rock: Absolutely, it started really with my mom getting me to be not so frightened around our superintendent's dog. His name was Russ, he was a cutie. So, she had me threatening to go over and had him and whatnot. But I basically would hide behind her. Suzanne: Yeah. Rock: Oddly enough a few years later, I ended up becoming his dog walker though there's no such thing as a dog walker in those days you know. [03:00] For 25 cents a trip which was a lot of money in 1966. From there, I know what I don't think I would have really remembered the story so clearly if I had not become the dog walker you know so many years later. Suzanne:Was your mom, she wanted to make sure you weren't afraid and she also had a love for animals clearly? Rock: She had a love for animals. Yes, we had a lot of alley cats in those days and because there was Mrs. Conway, but chucking the cooked food to the kitties. You know the trick and hearts and stuff like that. It all comes to the window and just understanding the rapport between people and animals. She was a very strong person but more so she, in this case, she was being supported with me as a child, which she did to my three older siblings. She was fantastic in that way. Suzanne: What a great inspiration, I mean we're recording this right the day before Mother's Day. You're kind of making me tear up, thinking about the love you have for your mom and what a huge influence here you know decades later. [04:00] Tell me about your business? Rock: The business is, it's a modest-sized dog-walking company and we're out sounding all corporate America. I am trying to expand so this way ironically I'll have more free time and I'll be able to run it better you know. As I say run it better it's being run to the max and my clients who actually are customers, they're not better words are so formal. I just won't be so consumed because what goes into it is promotions as well as the physical and psychological manifestation. They're taking care of the dogs you know they're like pills and I look at them for my being a 6-month-old baby to maybe a 10-year-old. You know you have to understand a lot of nurture and goes into this. Without sounding when I say psychology that it comes out of a textbook. I mean really understanding and that comes through love and being sincere. They all have their own personalities. Suzanne: Wow, I love the fact that you understand each dog is so different. [05:01] I mean you have a special relationship with each one. Rock: Yes, but as we know again it is a business that if you lose sight of that you'll find yourself out of business. This is why I buy offer packages; you know introductory, reduced fees for like when they first start walking with us for two to four weeks. If they use, they need multiple walks a day then they get at least a 5 percent discount, which just means that 20th walk is free. Suzanne: Okay. Rock: Everyone likes a bargain and my...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_233352c5ff7e6641a1ba72bc63af667866Wed, 07 Aug 2019 13:16:28 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s rebuilding and reinventing itself every day. Rent regulations are shaking things up,...456new,de,history,estate,marijuana,rent,midtown,park,brooklyn,security,real,robert,east,office,amazon,side,york,building,regulations,demolitioncleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows a New York City real estate market that just keeps marching on. It’s rebuilding and reinventing itself every day. Rent regulations are shaking things up, but perhaps not in an ideal way for those who were hoping for rents to go down or stay low. Retail is changing, but new industries and models are popping up and rents remain high. Billions of dollars are still being plowed into the local market and investment properties. While there are still potential corrections and adjustments to be made in the property market, most of the talk of a downturn appears to have subsided. Transactions seeming to show new confidence in this strong market as the status quo for the foreseeable future. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines… Landlords are scrambling to deal with and get ahead of rent control regulations. Many see little common sense in the way regulations are going, and that may not change. Some are trying to sue against new regulations. Others are getting more creative. In response to the new rules Blackstone has stunningly pulled back from plans to continue to renovate the 100 building, 11,000 rental unit complex it bought on the Lower East Side for $5.3B. The giant firm is reportedly looking at other options for the properties in its portfolio, such as converting to condos instead of maintaining rentals. Other landlords are re-evaluating their options due to rules which prevent taking more than one month of security deposit. Such as stopping renting to international students. Others are looking at insurance products to cover the gaps in risk. Then you have new models which are moving to charge for a ‘membership’ to live in shared homes instead of traditional leasing. Models like Haven will cram 20 people into a house, four to a room and charge around $1,000 a month. Others offer pod share arrangements. After several years of incredible growth, other companies who have been modernizing the industry are choosing to cash out. Airbnb is looking for an IPO exit. WeWork is planning a $3.5B IPO in September 2019. A very, very modest sum given recent efforts to secure a $6B line of credit, and previous valuation of $47B.  On the bright side, Amazon is very much interested in taking over the real estate industry. It’s a new partnership with Realogy and its subsidiary companies like Sotheby’s creates a new giant on the landscape, and plenty of perks for those using the site. While the market seemed to be struggling to find its footing for a moment, and there is still some adjusting needed to modernize and adapt for today’s consumers we appear to be in a new norm with low interest rates and very high interest in investing in real estate. Success seems to be all about marketing and pricing it right, and tailoring with the right end consumer in mind. This is evidenced by new sales records being set.  Content marketing is a big part of this, with on landlord crediting a single blog post for quardupaling its leased space on Park Avenue. Meanwhile, in other big news, the largest demolition in New York City history is about to get underway on Park Avenue in Midtown East.   For Brooklyn Real Estate News As tax authorities continue to raise taxes, deplete breaks and elevate assessments, some are finding relief in flexing their right to appeal. The latest data shows Brooklynites saved $57M in annual property taxes in 2017 by challenging their assessments. This is something everyone can do, and often helps create a lot of extra value and cash flow. Developers are also continuing to gain millions in tax breaks to renovate and construct. Especially when their projects create new housing or save jobs.  After pulling out of Queens, Amazon seems to have its sights on now coming to Brooklyn. Jeff Bezos is reportedly...Nohttps://www.spreaker.com/user/brooklynmade/season-2-episode-4-interview-with-ashleye0b2c10bd47d406997f98e278403b99cWed, 31 Jul 2019 12:06:06 +0000Brooklyn Made Real Estate ShowThe Royal Palms Shuffleboard Club.  Your home for biscuits, tangs and all-around fun with your troop.   [00:00:00] We always say that if we understood how much risk we were taking when we started, probably never would have done it. It was...1823league,club,royal,brooklyn,hipsters,project,jewish,ashley,palms,skills,european,athletic,albert,passover,members,shuffleboard,matzah,matzocleanfullBrooklyn Made Real Estate ShowThe Royal Palms Shuffleboard Club.  Your home for biscuits, tangs and all-around fun with your troop.   [00:00:00] We always say that if we understood how much risk we were taking when we started, probably never would have done it. It was truly hubris and naiveté that got this place going because anybody who knew what they were doing would not have. [00:01:45] Hi, I am Suzanne Lynn and this is the Brooklyn made show, and today we are going to talk with Ashley Albert of Royal Palms shuffleboard. It started out in Brooklyn and it's expanded into Chicago, but if you think the game of shuffleboard is only for old people, well hold tight because Ashley is going to make you think again. Royal Palms it's a cool combination of gaming and a bar and a hangout, it's all fun all wrapped up together. Ashley and her partner are trailblazers, and I cannot wait to jump in and get chatting with her. So grab your virtual shuffleboard stick because Ashley is on deck, tell us about yourself. [00:02:26] Yes, so I am the co-owner of the Royal Palms shuffleboard club, and that is a giant vintage Florida's gamed shuffleboard bar. I have one in New York and I have one in Chicago, and I'm working on building a couple more. And it is like the very first nightclub shuffleboard bar, so it sort of looks like a bowling alley but it's vintage deck shuffleboard, like cruise ship style shuffleboard. [00:02:57] That is fascinating, that's cool. How did you come up with this idea? [00:03:01] So my business partner, he's one of my best friends and my holiday gift to him in 2011 was to become certified barbecue judges. So I flew us down to Florida to get our meet certification, it happens all over the world but it just so happened that the one that we picked was in Florida and I'm from Miami, I grew up there. So we went to the middle of nowhere Central Florida, and while we were there he said I won Florida we've got to play shuffleboard, he remembered playing with his grandparents at century village in Palm Beach when he was a kid. And so we did some research and we found the world's largest shuffleboard club in St. Petersburg Florida, and on a lark, we rented a convertible and we drove the three hours to go to St. Petersburg and play this a city-owned Municipal Park. And it turned out that once a month, like a handful of St. Petersburg hipsters would get together and play on these yawns courts, and they happen to be there the day that we were there. And they shared their beer with us, and they taught us how to play, and they were playing music and we were like this is the coolest thing ever and this was still in Brooklyn. But we both had great jobs, we weren't looking for a new job I was doing voiceover living my life of leisure, and we came back up to New York just for fun, mostly pretending because we didn't think we were going to find a space big enough and affordable enough and then a good enough location in New York to do this. We were just on the weekend go look at real estate, you know just pretending that we were interested in opening a shuffleboard Club and we walked into our space and I turned to Jonathan my business partner and I said okay, if we're serious about this we have to take this space, that if we don't take this space then we know we're not serious about this. Like this is how we know whether we're kidding or not, because this space at this price in this location is just not going to be here if in three months. And we go you know what maybe we should open a shuffleboard Club, and we didn't have a business plan or any money raised or anything, and we just plunked our life savings down on the deposit for the lease, and then we scrambled about raising many millions of dollars, it's a 20,000 square foot space. So we only said that if we understood how much risk we were taking when we started, we probably never would have done. It was truly hubris and naiveté that got this place going because anybody who knew what they were doing...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_228c27aba9a1624142bb3bca22471971efTue, 09 Jul 2019 22:38:07 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows an ongoing NYC building boom, with skyscrapers reaching even higher. In the background, the rent control regulation debate is still sizzling hot and could...453facebook,google,estate,control,morgan,sales,rent,park,nyc,land,homeless,real,east,shelter,building,jp,mae,maps,schemes,slopecleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This month’s roundup shows an ongoing NYC building boom, with skyscrapers reaching even higher. In the background, the rent control regulation debate is still sizzling hot and could have a sizable impact on the future of commercial real estate throughout New York’s boroughs. Yet, billions are still being plowed into the real estate investment market, and a nonstop chain of towers are still filing for permits, breaking ground and opening up sales. While there are still potential cracks and flaws in the property market, which could be opened by new regulations, most of the talk of a downturn appears to have subsided, with public opinion and transactions seeming to show new confidence in this strong market as the status quo for the foreseeable future. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines… NYC land prices continue to rise. While condo sales, retail, and Manhattan, in particular, continue to find their footing, land in Brooklyn has been trading at 6.5% more than in 2018, at $278 per buildable square foot. Laguardia airport’s new concourse is set to open this fall. Delta has already invested $4B in the project. 7 of the new gates will open later this year, with a total of 37 planned.  Last month we reported on Google’s continued high level investment in NYC. This month is it Facebook making moves. The social networking giant who is working on its own digital currency is reportedly looking to ink a new lease a Hudson Yards. Once closed Amazon may be the only tech giant now really missing out on the new surge in expanding here. The billionaires at One57 are getting some new neighbors, and not everyone is happy about it. A new homeless shelter right behind the famous building which has been setting sales records and sits on Billionaire’s Row. The shelter is to be located in the old Park Savoy hotel, and is expected to house at least 140 people. The old Hells Angels clubhouse in the East Village is getting new residents too. A new $10M flip is preparing a conversion into condos which will rent from $3,500 a month. Of course, the big news of the month is the new The Housing Stability and Tenant Protection Act of 2019. These new harsh and sweeping rent controls threaten to severely hamper landlords’ ability to raise rents. Even when units become vacant or are given substantial makeovers. Obviously, landlords groups are fighting to sue back. If they are unsuccessful, some worry the new rules will turn off lenders and financial conduits who won’t want to take the collateral. This year also marks the first ever Central Park squirrel census, which counted over 3,000 of these furry friends living in the heart of NYC. If you’re still commuting and doing business in the city Google Maps’ latest updates hopes to help you predict just how crowded your bus or subway ride will be.   Fannie Mae says there is still no lack of demand for housing in the US, and that a tightening of lending is designed to help reduce that demand in order to better match the tight supply of available housing to buy. This appears to especially be a challenge for first time home buyer.   New data forecasts a continued short fall of almost half a million new homes to keep up with demand each year. Especially for lower end priced units. Zillow’s director of economic research says that we’ll have to get used to paying out an even greater share of our income for housing.   Even inf the industrial sector, there appears to be no lack of demand. According to JLL research “Global industrial close-ended fundraising has tallied a five year average of $94.4B, nearly double the 2004-2013 average of $49.7B. Global annualized average oversubscription for industrial-focused close-ended funds was $16.3B 2013-2018, with U.S.-based industrial funds tallying a annualized average...Nohttps://www.spreaker.com/user/brooklynmade/manhattan-multi-family-sales-real-estate_2www.NewYorkMarketReports.com Welcome to the Manhattan Multi-Family Sales Real Estate Market Report for the 1stquarter of 2019. Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’ll keep you up to date. You’re listening to New York’s Real Estate Market Update from the Ratner Team. Home of the New York Giants Manhattan’s iconic skyline is home to 1.6 million people and remains one of the most desirable places to live and visit on the planet. yet, the Multifamily market is still steadily suffering a decline – both across the borough and across the city. Sales volume this quarter totaled $996.9 Million: A shocking 36% percent decrease over last year’s first-quarter sales volume. Square-footage pricing actually substantially increased. Going up 36% from 2018, to an average of $794. Average selling prices in Manhattan have increased, up 45% percent from last year’s records and coming in at $736,000 per unit across the island. While total transactions have decreased 34% percent, with just 74 sales in the 2018’s second quarter.  Though Manhattan’s volume market is trending down, the top sales numbers still rival the skyline in height. The 1st Quarter’s top sale is located in Tribeca, where 450 Washington St sold for a striking $260,000,000.Though, at just $851 per square foot, that sale is far below the average square-footage of the top ten most expensive Manhattan neighborhoods this quarter: Lenox Hill tops off the list at an average of $1,170 per square foot. Carnegie Hill comes in second at $1,064. Upper West Side a close third, is at $811. Hell’s Kitchen listed at $706 per square foot, East Harlem at $640, East Village at $559, Harlem at $352 and Washington Heights rounds out this list at $322 per foot. Harlem was the neighborhood with the highest volume of multifamily sales in the first quarter of 2019 again, with 15 total transactions. Both Lenox Hill and The East Village followed close behind, claiming 9-12 sales each. Bargain-seekers should consider looking in Hudson Heights & Inwood, as the average price per square foot was only $205 at the beginning of the year, despite growing interest and activity in the neighborhood.   You can visit our website,www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know and subscribe. We’ll put out new content and a whole new report every quarter.  You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations   ]]>b31e17abf87e4cb7a4013fd8e9c47cd4Wed, 03 Jul 2019 18:34:06 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Manhattan Multi-Family Sales Real Estate Market Report for the 1stquarter of 2019. Whether you already own or you’re looking to buy into the City’s fastest-growing market,...www.NewYorkMarketReports.com Welcome to the Manhattan Multi-Family Sales Real Estate Market Report for the 1stquarter of 2019. Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’ll keep you up to date. You’re listening to New York’s Real Estate Market Update from the Ratner Team. Home of the New York Giants Manhattan’s iconic skyline is home to 1.6 million people and remains one of the most desirable places to live and visit on the planet. yet, the Multifamily market is still steadily suffering a decline – both across the borough and across the city. Sales volume this quarter totaled $996.9 Million: A shocking 36% percent decrease over last year’s first-quarter sales volume. Square-footage pricing actually substantially increased. Going up 36% from 2018, to an average of $794. Average selling prices in Manhattan have increased, up 45% percent from last year’s records and coming in at $736,000 per unit across the island. While total transactions have decreased 34% percent, with just 74 sales in the 2018’s second quarter.  Though Manhattan’s volume market is trending down, the top sales numbers still rival the skyline in height. The 1st Quarter’s top sale is located in Tribeca, where 450 Washington St sold for a striking $260,000,000.Though, at just $851 per square foot, that sale is far below the average square-footage of the top ten most expensive Manhattan neighborhoods this quarter: Lenox Hill tops off the list at an average of $1,170 per square foot. Carnegie Hill comes in second at $1,064. Upper West Side a close third, is at $811. Hell’s Kitchen listed at $706 per square foot, East Harlem at $640, East Village at $559, Harlem at $352 and Washington Heights rounds out this list at $322 per foot. Harlem was the neighborhood with the highest volume of multifamily sales in the first quarter of 2019 again, with 15 total transactions. Both Lenox Hill and The East Village followed close behind, claiming 9-12 sales each. Bargain-seekers should consider looking in Hudson Heights & Inwood, as the average price per square foot was only $205 at the beginning of the year, despite growing interest and activity in the neighborhood.   You can visit our website,www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know and subscribe. We’ll put out new content and a whole new report every quarter.  You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations   ]]>199new,the,quarter,foot,report,team,reports,price,analysis,market,manhattan,york,third,footage,2019,multifamily,ratner,q1cleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Manhattan Multi-Family Sales Real Estate Market Report for the 1stquarter of 2019. Whether you already own or you’re looking to buy into the City’s fastest-growing market, we’ll keep you up to date. You’re listening to New York’s Real Estate Market Update from the Ratner Team. Home of the New York Giants Manhattan’s iconic skyline is home to 1.6 million people and remains one of the most desirable places to live and visit on the planet. yet, the Multifamily market is still steadily suffering a decline – both across the borough and across the city. Sales volume this quarter totaled $996.9 Million: A shocking 36% percent decrease over last year’s first-quarter sales volume. Square-footage pricing actually substantially increased. Going up 36% from 2018, to an average of $794. Average selling prices in Manhattan have increased, up 45% percent from last year’s records and coming in at $736,000 per unit across the island. While total transactions have decreased 34% percent, with just 74 sales in the 2018’s second quarter.  Though Manhattan’s volume market is trending down, the top sales numbers still rival the skyline in height. The 1st Quarter’s top sale is located in Tribeca, where 450 Washington St sold for a striking $260,000,000.Though, at just $851 per square foot, that sale is far below the average square-footage of the top ten most expensive Manhattan neighborhoods this quarter: Lenox Hill tops off the list at an average of $1,170 per square foot. Carnegie Hill comes in second at $1,064. Upper West Side a close third, is at $811. Hell’s Kitchen listed at $706 per square foot, East Harlem at $640, East Village at $559, Harlem at $352 and Washington Heights rounds out this list at $322 per foot. Harlem was the neighborhood with the highest volume of multifamily sales in the first quarter of 2019 again, with 15 total transactions. Both Lenox Hill and The East Village followed close behind, claiming 9-12 sales each. Bargain-seekers should consider looking in Hudson Heights & Inwood, as the average price per square foot was only $205 at the beginning of the year, despite growing interest and activity in the neighborhood.   You can visit our website,www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know and subscribe. We’ll put out new content and a whole new report every quarter.  You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations   Nohttps://www.spreaker.com/user/brooklynmade/brooklyn-multi-family-sales-real-estate-_2www.NewYorkMarketReports.com Welcome to the Brooklyn Multi-Family Sales Real Estate Market Report for the 1st quarter of 2019. Whether you already own or you’re looking to buy into the City’s most fashionable market, we’ll keep you up to date, so you can make the smartest moves.  You’re listening to New York’s Real Estate Market Update from the Ratner Team. Home of the Nets and 2.6 million other New Yorkers, Brooklyn’s multifamily market has been on the rise since the second quarter last year. Brooklyn’s Multifamily market declined a big 34% percent from 2017’s first quarter. With sales volume this quarter coming out a bit low at $885M. Yet, there is a great value to be found, with square-footage prices decreasing by 1% percent from last year’s quarter. Now standing at $401 dollars on average. Average selling prices went down to just$370,000 per unit –a difference of 1% percent from this time last year. Total transactions slowed down by 13% percent to 390 in 2019’s 1stquarter.   The Multifamily market is trending progressively higher during this time of year for the past several years. Brooklyn’s top sales are still numbers to marvel at. The top sale recorded in the first quarter of 2019 can be found in Williamsburg: 395 Leonard Street sold for $130,442,381 in February. At a $698 a foot.  Even at that high price, however, it doesn’t garner many square feet in the most opulent neighborhood of Brooklyn. The top ten most expensive neighborhoods this quarter were as follows: Park Slope, with its townhouses, brownstones & beautiful parks, tops the list at an average of $853 per square foot. Fort Greene comes in second at $820. With Clinton Hill coming in third at $665. Carroll Gardens comes next at $646 per square foot. Followed by Williamsburg at $626, Gowanus at $564, Greenpoint at $538, Kensington at $495, Dyker Heights at $495 and, tenth but certainly not least, the Prospect Heights area averaged in at $490 per square foot. Bed-Stuy was the winner for the highest volume of Multifamily sales this quarter again at 45 total sales. East New York was the same at 45 sales. Bargain hunters check out Brownsville attractive average price per square foot, at just $218. You can visit our website,www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. Plus, see our report on Brooklyn’s innovative piers, what they have to offer, what’s being built on them, and consider how they may change demand and prices in the near future. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know, and subscribe. We’ll put out new content and a whole new report every quarter. You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help!   Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations      ]]>06d14281d1eb425f9469f2ae04b6777fWed, 03 Jul 2019 18:30:10 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Brooklyn Multi-Family Sales Real Estate Market Report for the 1st quarter of 2019. Whether you already own or you’re looking to buy into the City’s most fashionable...www.NewYorkMarketReports.com Welcome to the Brooklyn Multi-Family Sales Real Estate Market Report for the 1st quarter of 2019. Whether you already own or you’re looking to buy into the City’s most fashionable market, we’ll keep you up to date, so you can make the smartest moves.  You’re listening to New York’s Real Estate Market Update from the Ratner Team. Home of the Nets and 2.6 million other New Yorkers, Brooklyn’s multifamily market has been on the rise since the second quarter last year. Brooklyn’s Multifamily market declined a big 34% percent from 2017’s first quarter. With sales volume this quarter coming out a bit low at $885M. Yet, there is a great value to be found, with square-footage prices decreasing by 1% percent from last year’s quarter. Now standing at $401 dollars on average. Average selling prices went down to just$370,000 per unit –a difference of 1% percent from this time last year. Total transactions slowed down by 13% percent to 390 in 2019’s 1stquarter.   The Multifamily market is trending progressively higher during this time of year for the past several years. Brooklyn’s top sales are still numbers to marvel at. The top sale recorded in the first quarter of 2019 can be found in Williamsburg: 395 Leonard Street sold for $130,442,381 in February. At a $698 a foot.  Even at that high price, however, it doesn’t garner many square feet in the most opulent neighborhood of Brooklyn. The top ten most expensive neighborhoods this quarter were as follows: Park Slope, with its townhouses, brownstones & beautiful parks, tops the list at an average of $853 per square foot. Fort Greene comes in second at $820. With Clinton Hill coming in third at $665. Carroll Gardens comes next at $646 per square foot. Followed by Williamsburg at $626, Gowanus at $564, Greenpoint at $538, Kensington at $495, Dyker Heights at $495 and, tenth but certainly not least, the Prospect Heights area averaged in at $490 per square foot. Bed-Stuy was the winner for the highest volume of Multifamily sales this quarter again at 45 total sales. East New York was the same at 45 sales. Bargain hunters check out Brownsville attractive average price per square foot, at just $218. You can visit our website,www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. Plus, see our report on Brooklyn’s innovative piers, what they have to offer, what’s being built on them, and consider how they may change demand and prices in the near future. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know, and subscribe. We’ll put out new content and a whole new report every quarter. You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help!   Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations      ]]>206new,the,quarter,foot,report,team,brooklyn,reports,price,analysis,market,york,third,footage,2019,multifamily,ratner,q1cleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Brooklyn Multi-Family Sales Real Estate Market Report for the 1st quarter of 2019. Whether you already own or you’re looking to buy into the City’s most fashionable market, we’ll keep you up to date, so you can make the smartest moves.  You’re listening to New York’s Real Estate Market Update from the Ratner Team. Home of the Nets and 2.6 million other New Yorkers, Brooklyn’s multifamily market has been on the rise since the second quarter last year. Brooklyn’s Multifamily market declined a big 34% percent from 2017’s first quarter. With sales volume this quarter coming out a bit low at $885M. Yet, there is a great value to be found, with square-footage prices decreasing by 1% percent from last year’s quarter. Now standing at $401 dollars on average. Average selling prices went down to just$370,000 per unit –a difference of 1% percent from this time last year. Total transactions slowed down by 13% percent to 390 in 2019’s 1stquarter.   The Multifamily market is trending progressively higher during this time of year for the past several years. Brooklyn’s top sales are still numbers to marvel at. The top sale recorded in the first quarter of 2019 can be found in Williamsburg: 395 Leonard Street sold for $130,442,381 in February. At a $698 a foot.  Even at that high price, however, it doesn’t garner many square feet in the most opulent neighborhood of Brooklyn. The top ten most expensive neighborhoods this quarter were as follows: Park Slope, with its townhouses, brownstones & beautiful parks, tops the list at an average of $853 per square foot. Fort Greene comes in second at $820. With Clinton Hill coming in third at $665. Carroll Gardens comes next at $646 per square foot. Followed by Williamsburg at $626, Gowanus at $564, Greenpoint at $538, Kensington at $495, Dyker Heights at $495 and, tenth but certainly not least, the Prospect Heights area averaged in at $490 per square foot. Bed-Stuy was the winner for the highest volume of Multifamily sales this quarter again at 45 total sales. East New York was the same at 45 sales. Bargain hunters check out Brownsville attractive average price per square foot, at just $218. You can visit our website,www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. Plus, see our report on Brooklyn’s innovative piers, what they have to offer, what’s being built on them, and consider how they may change demand and prices in the near future. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know, and subscribe. We’ll put out new content and a whole new report every quarter. You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help!   Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations      Nohttps://www.spreaker.com/user/brooklynmade/season-2-episode-3-interview-with-daniele011831bc8244c13a8bf793601ddf427Thu, 27 Jun 2019 01:17:43 +0000Brooklyn Made Real Estate ShowPodcast Daniel Gordon   Daniel Gordon is the founder of a content marketing organization that helps brands that truly cares about their audience in building a relationship with their customer. He believes that by helping them to make an effort to...1779facebook,marketing,media,email,daniel,social,writing,business,brooklyn,creation,website,writers,content,writer,instagram,gordon,copywriting,brooklynmadecleanfullBrooklyn Made Real Estate ShowPodcast Daniel Gordon   Daniel Gordon is the founder of a content marketing organization that helps brands that truly cares about their audience in building a relationship with their customer. He believes that by helping them to make an effort to inform, educate, equip, engage, and inspire their customers they’d create a community of customers or clientele. I further explain the peeks of content marketing and how it involves providing anything that is just basically written, like articles, email, newsletters, social media posts, case studies, e-books, videos, brochures or things of that nature. He basically explains that business that engages in content marketing boils down to them thinking like a marketer, in terms of just going after it, care about the experience you're creating, build relationships, treat people well, connect people and thus not just thinking like a brand but becoming. Because by using the resources you're given and the success you’ve earned to keep feeding the machine and separating yourself from the pack]   [00:01:49] Hi, I'm Suzanne Lynn and welcome to the Brooklyn made show. Now you may have heard the term content marketing being thrown around and you kind of wonder what it is, maybe you summarize. that it could mean sharing information about your business or organization you would mostly be right, but it's actually about so much more than that, it's really a way to have a voice and a conversation with people around the world digitally but there's no point in me going on about it because we've got a real expert, His name is Daniel Gordon and he's doing some tremendous things for his clients in the content marketing arena. So let's dive right in. All right, well Daniel I'm going to start out with what exactly content marketing is? I mean when I think about content marketing is like this gigantic universe of information and I don't exactly know what your world, you're part of that is.  [00:02:43] Yeah, yeah it's truly vast and nebulous, so content marketing boils down to truly caring about your audience and building a relationship with them. So it's making the same effort to inform, educate equip, engage, and inspire that you do to sell. So the way you do that tactically is by creating online content around your products and services. So I think articles, email, newsletters, social media posts, case studies, e-books, videos, brochures, things of that nature. You'll find varying definitions of what's considered content marketing and overlapping terms like Inbound Marketing, digital marketing, that's content used for online marketing, you can go ahead and call it Content Marketing, don't worry about it. Even your traditional marketing collateral like sell sheets and flyers can be repackaged or repurpose for content marketing. [00:03:42] Because it's got the information but it's the way you're presenting it to people that it's content marketing? [00:03:47] Exactly. [00:03:38] I got it, I got it. So what is the foundation of your business? Is it based on heavy blogs or web design, as a client what would I be coming to you for? [00:04:05] Basically anything written, so again all those things I mentioned, they all have one thing in common which is written content. So if it's… I'd naturally get a lot of business for Blogs because that's really the foundation of it all and the web site concept and e-mail blasts and we'll probably get into how these things intertwine and bounce off of other as we go through the conversations.  [00:04:34] I would love that because I really want to understand more but I've got a good idea of what it is that you're doing. I want to how did you get into this and how are you able to turn probably something as a good writer that you enjoy doing into a business. [00:04:47] Yeah-yeah I had to sell out a little. [00:04:50]This is juicy stuff, turn the radio up, that's right. [00:04:58] Yeah-yeah, so my background is in journalism and I always grew up writing when I was little all I...Nohttps://www.spreaker.com/user/brooklynmade/brooklyn-residential-sales-real-estate-m_2www.NewYorkMarketReports.com Welcome to the Brooklyn Residential Sales Real Estate Market Report for the 1st quarter of 2019 Whether you already own or you’re looking to buy into the City’s fastest growing market, we’re keeping you up to date so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. In this Brooklyn report, we cover the average residential sales in this sprawling borough of historic brownstones, row houses, and exciting new developments. Keep listening for the record-high sales of this quarter. Residential average sales prices for Q1 2019 in Brooklyn are bit lower compared to last year’s report, with a 1.8% percent decrease over 2018. Median sale prices fell to $964,324,000. And this quarter, we saw a decrease of 8.1% percent in the number of transactions. Totaling 2,216 in Q1, 2019 compared to 2,474 in Q1, 2018. New Development Condo sales in this 1st quarter sold for an average of $1,058,287 at an average of $984 dollars per foot. That’s in contrast to $1,173 per square foot last year. This was a 16.1% percent decrease in price per foot from the same quarter last year when the average sale price was $1,324,707. The average sales price of new condos saw a decline of 20.1%. According to this quarter’s data, these properties are spending a bit more time on the market: this year. It took an average of 107 days to sell a new development property, versus 104 days in Q1, 2018. Existing condo sales prices are on a slight decline as well. The average condo sales price in the first quarter of 2019 was $1,000,769. A dip from $1,045,015 last year. And a 4.2% percent decline from the first quarter last year. The average marketing time for these properties increased: 102 days on market this year, versus 90 days in Q1, 2018. Co-op sales prices increased this quarter. Selling at an average price of $595,819 dollars—an increase of 3.5% percent from last year’s $575,917 dollars. Selling time has also increased: co-ops sat on the market for 81 days in quarter 1, as opposed to 79 days in the same quarter last year.  1-3 unit family homes performed about the same, with a very small increase in price and an increase in marketing time. This quarter, the average 1-3 family home sale price was $1,107,993, up 0.1% percent from $1,106,656 last year. Houses also sold in 20 more days. Properties, on average, were on the market for 100 days, versus 80 days last year. The data shows that 1-3 family homes under $1,500,000 are still in high demand! In the Luxury Market this quarter, the average luxury property sales price was $2,724,093 That’s a slight decrease. Down 2.3% percent from last year. These properties also took longer to sell, being on the market for an average of 105 days, versus 103 last year. Across the board, the average recorded price discount was 0.6% percent. Yet, it is important to note that at least homes are still rising in demand and value.   Now, to Brooklyn’s top residential sales in Q1 2019: The top single-family sale in Brooklyn in Q1 2019 can be found in Williamsburg. The selling price of 138 North First was an incredible $5,250,000 – about $1,400 dollars per square foot. This rare 25-foot wide, brand new constructed townhouse in the heart of Williamsburg is unlike any other. Designed for comfort, but aesthetically impressive with state-of-the-art technological adaptations and grand spaces. This magnificent 4,700-square foot, super-quiet home features herringbone-patterned pine floors throughout, hand-hewn structural beams from the iconic Domino Sugar Factory, with wood that can’t be found anywhere else in the world except the Whitney Museum of Art. Dumbo took the top condo sale of the quarter. 51 Jay St Penthouse A sold for $4,709,915. This duplex penthouse commands stunning views across DUMBO with north, south, east and west exposures. The three separate multi-level terraces provide a total of 1,388 square of private outdoor space. The herringbone-patterned floors are smoked, wire brushed oak. The kitchen's custom wood cabinetry by Aster Cucine features antiqued details and stainless steel hardware. La Rochelle Gris marble slab countertops and basalt porcelain tile beautifully finish the space. The Gaggenau appliance package includes electric convection oven and gas cooktop with 6 burners, refrigerator/freezer, wine cooler, dishwasher, and microwave built-in drawer.   Park Slope took first place this quarter for co-op sales. Winning a record sale for the top co-op at $2,950,000. Located at 35 Prospect Park W #7C, in a full-service building, this classic six-bed home has a generous layout over 2,200 SF, original parquet floors and moldings, and other elegant original interior details intact. This apartment exudes warmth and sophistication and exemplifies the thoughtful combination of new with old. Enter into a gracious 23-foot long foyer leading to the south-facing 25-foot formal living room with sweeping views of Brooklyn, complete with a wood-burning fireplace encased by custom built-in shelving. The 21-foot formal dining room, accessible from the foyer through a set of glass doors or the kitchen, can easily accommodate entertaining on a grand scale and is cleverly configured with a second living area. The kitchen is fully complemented by a windowed breakfast area, Sub-Zero refrigerator, 48-inch Wolf range with warming oven and pot filler, full height Thermador wine fridge, Miele dishwasher, Italian cabinetry by Ceasar, Kallista nickel fixtures and original wall tile. For bargain territory, head to Canarsie & East New York. These least-expensive residential areas in Brooklyn had a median sale price of $527,500 for a single family home this quarter. As far as Brooklyn is concerned, that’s a steal. So, there are still deals out there. Some properties are still in high demand and rising. Others may be settling and could signal a good time to restructure portfolios. You can visit our website, www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. Plus, don’t miss our new report on Brooklyn’s vibrant piers and how they are being reinvented with community spaces and new condos. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know, and subscribe. We’ll put out new content and a whole new report every quarter.  You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Brooklyn property, renting your vacant apartment, or just acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations          ]]>4cb2e20f59d3483e905964341a8c4651Fri, 21 Jun 2019 19:40:52 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Brooklyn Residential Sales Real Estate Market Report for the 1st quarter of 2019 Whether you already own or you’re looking to buy into the City’s fastest growing market,...www.NewYorkMarketReports.com Welcome to the Brooklyn Residential Sales Real Estate Market Report for the 1st quarter of 2019 Whether you already own or you’re looking to buy into the City’s fastest growing market, we’re keeping you up to date so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. In this Brooklyn report, we cover the average residential sales in this sprawling borough of historic brownstones, row houses, and exciting new developments. Keep listening for the record-high sales of this quarter. Residential average sales prices for Q1 2019 in Brooklyn are bit lower compared to last year’s report, with a 1.8% percent decrease over 2018. Median sale prices fell to $964,324,000. And this quarter, we saw a decrease of 8.1% percent in the number of transactions. Totaling 2,216 in Q1, 2019 compared to 2,474 in Q1, 2018. New Development Condo sales in this 1st quarter sold for an average of $1,058,287 at an average of $984 dollars per foot. That’s in contrast to $1,173 per square foot last year. This was a 16.1% percent decrease in price per foot from the same quarter last year when the average sale price was $1,324,707. The average sales price of new condos saw a decline of 20.1%. According to this quarter’s data, these properties are spending a bit more time on the market: this year. It took an average of 107 days to sell a new development property, versus 104 days in Q1, 2018. Existing condo sales prices are on a slight decline as well. The average condo sales price in the first quarter of 2019 was $1,000,769. A dip from $1,045,015 last year. And a 4.2% percent decline from the first quarter last year. The average marketing time for these properties increased: 102 days on market this year, versus 90 days in Q1, 2018. Co-op sales prices increased this quarter. Selling at an average price of $595,819 dollars—an increase of 3.5% percent from last year’s $575,917 dollars. Selling time has also increased: co-ops sat on the market for 81 days in quarter 1, as opposed to 79 days in the same quarter last year.  1-3 unit family homes performed about the same, with a very small increase in price and an increase in marketing time. This quarter, the average 1-3 family home sale price was $1,107,993, up 0.1% percent from $1,106,656 last year. Houses also sold in 20 more days. Properties, on average, were on the market for 100 days, versus 80 days last year. The data shows that 1-3 family homes under $1,500,000 are still in high demand! In the Luxury Market this quarter, the average luxury property sales price was $2,724,093 That’s a slight decrease. Down 2.3% percent from last year. These properties also took longer to sell, being on the market for an average of 105 days, versus 103 last year. Across the board, the average recorded price discount was 0.6% percent. Yet, it is important to note that at least homes are still rising in demand and value.   Now, to Brooklyn’s top residential sales in Q1 2019: The top single-family sale in Brooklyn in Q1 2019 can be found in Williamsburg. The selling price of 138 North First was an incredible $5,250,000 – about $1,400 dollars per square foot. This rare 25-foot wide, brand new constructed townhouse in the heart of Williamsburg is unlike any other. Designed for comfort, but aesthetically impressive with state-of-the-art technological adaptations and grand spaces. This magnificent 4,700-square foot, super-quiet home features herringbone-patterned pine floors throughout, hand-hewn structural beams from the iconic Domino Sugar Factory, with wood that can’t be found anywhere else in the world except the Whitney Museum of Art. Dumbo took the top condo sale of the quarter. 51 Jay St Penthouse A sold for $4,709,915. This duplex penthouse commands stunning views across DUMBO with north, south, east and west exposures. The three...]]>480new,the,quarter,foot,report,team,brooklyn,reports,price,analysis,market,york,third,residential,footage,2019,ratner,q1cleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Brooklyn Residential Sales Real Estate Market Report for the 1st quarter of 2019 Whether you already own or you’re looking to buy into the City’s fastest growing market, we’re keeping you up to date so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. In this Brooklyn report, we cover the average residential sales in this sprawling borough of historic brownstones, row houses, and exciting new developments. Keep listening for the record-high sales of this quarter. Residential average sales prices for Q1 2019 in Brooklyn are bit lower compared to last year’s report, with a 1.8% percent decrease over 2018. Median sale prices fell to $964,324,000. And this quarter, we saw a decrease of 8.1% percent in the number of transactions. Totaling 2,216 in Q1, 2019 compared to 2,474 in Q1, 2018. New Development Condo sales in this 1st quarter sold for an average of $1,058,287 at an average of $984 dollars per foot. That’s in contrast to $1,173 per square foot last year. This was a 16.1% percent decrease in price per foot from the same quarter last year when the average sale price was $1,324,707. The average sales price of new condos saw a decline of 20.1%. According to this quarter’s data, these properties are spending a bit more time on the market: this year. It took an average of 107 days to sell a new development property, versus 104 days in Q1, 2018. Existing condo sales prices are on a slight decline as well. The average condo sales price in the first quarter of 2019 was $1,000,769. A dip from $1,045,015 last year. And a 4.2% percent decline from the first quarter last year. The average marketing time for these properties increased: 102 days on market this year, versus 90 days in Q1, 2018. Co-op sales prices increased this quarter. Selling at an average price of $595,819 dollars—an increase of 3.5% percent from last year’s $575,917 dollars. Selling time has also increased: co-ops sat on the market for 81 days in quarter 1, as opposed to 79 days in the same quarter last year.  1-3 unit family homes performed about the same, with a very small increase in price and an increase in marketing time. This quarter, the average 1-3 family home sale price was $1,107,993, up 0.1% percent from $1,106,656 last year. Houses also sold in 20 more days. Properties, on average, were on the market for 100 days, versus 80 days last year. The data shows that 1-3 family homes under $1,500,000 are still in high demand! In the Luxury Market this quarter, the average luxury property sales price was $2,724,093 That’s a slight decrease. Down 2.3% percent from last year. These properties also took longer to sell, being on the market for an average of 105 days, versus 103 last year. Across the board, the average recorded price discount was 0.6% percent. Yet, it is important to note that at least homes are still rising in demand and value.   Now, to Brooklyn’s top residential sales in Q1 2019: The top single-family sale in Brooklyn in Q1 2019 can be found in Williamsburg. The selling price of 138 North First was an incredible $5,250,000 – about $1,400 dollars per square foot. This rare 25-foot wide, brand new constructed townhouse in the heart of Williamsburg is unlike any other. Designed for comfort, but aesthetically impressive with state-of-the-art technological adaptations and grand spaces. This magnificent 4,700-square foot, super-quiet home features herringbone-patterned pine floors throughout, hand-hewn structural beams from the iconic Domino Sugar Factory, with wood that can’t be found anywhere else in the world except the Whitney Museum of Art. Dumbo took the top condo sale of the quarter. 51 Jay St Penthouse A sold for $4,709,915. This duplex penthouse commands stunning views across DUMBO with north, south, east and west exposures. The three separate multi-level terraces provide a total of 1,388 square of private...Nohttps://www.spreaker.com/user/brooklynmade/manhattan-residential-sales-real-estate-_2www.NewYorkMarketReports.com Welcome to the Manhattan Residential Sales Real Estate Market Report for the 1st quarter of 2019  Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. Manhattan’s grandiose allure of culture, history, and business continues to hold an enviable position in the real estate world for buyers, owners and investors alike. Here’s the data. Just make sure you keep listening for this quarter’s record high sales. With an average selling price of $2,118,780, Manhattan’s Residential prices are continuing to increase over last year’s 1st quarter. Average price-per-square-foot rose again. This time by 4.2%,to $1,769 dollars, from $1,697 a foot in Q1 2018. This may always be one of the strongest global property markets, but today’s purchasers are getting less and less floor space for their buck. Total transactions tallied in at 2,121 this quarter. Down 2.7% percent, from a total of 2,180 sales in Q1 2018. We expect Manhattan to maintain this slow but steady pace at least till the end of Q2 2019. This is likely happening due to a combination of interest rates, new condo inventory in some areas, and a few other macro factors. On the bright side - the average selling price of new development condos rose 89.4% percent in this second quarter to $7,648,521. An absolute record so far!  That’s versus $4,038,067 in quarter 1 last year. The average time a new development condo spends on the market is up to around 246 days, compared to last year’s 213 days. The data for Manhattan’s existing condominium sales is almost as cheerful as new developments. These units saw a 25.1% percent increase from 2018. The average sale price for these properties ran around $3,347,929 in Q1 2019, compared to $2,676,281 dollars in 2018. However, the market time for existing condos has decreased by a few days, now averaging 116 days vs 131 in Q1 2019. Co-op sales fell 5.5% percent this quarter, recording an average sales price of $1,287,040. Market time increased fractionally as well, coming in at 90 days from 86 days this time last year. If you’re seeking a more stable market, co-ops continue to be worth a look. The luxury market is showing a big rebound, bringing very impressive numbers this quarter. The average selling price of a luxury Manhattan property was $10,120,384. An amazing rise of 27.4% from last year’s average of $8,974,737.Though luxury properties have actually been moving slower, being on the market for 184 days this quarter, compared to nearly 149 days in Q1 2018. Across the board, the average recorded price discount was just 1.4% percent.   Now for the top sales numbers for Q1 2019: The well-known neighborhood of Carnegie Hill topped Q1 2019, single-family residential sales. The most expensive unit was 25 wide, approximately 12,729 sq. ft. with 22 rooms, 9 bedrooms, 7 baths, 3 terraces, a garden, and soaring 13 ceilings. It’s one of the most beautiful spaces in Manhattan. Built in 1895, and located on a richly architected townhouse block off Fifth Avenue, adjacent to Central Park and the Metropolitan Museum of Art, the important 6 story neo-classical limestone facade with beautiful gated garden forecourt, was designed by the architect, Henry Andersen, and inspired by the leading architectural firm of its time, McKim, Mead and White.  This townhouse was sold for $30,139,360, or a fantastic $4,106 per foot. In Central Midtown, the record condo sale for this quarter goes to the 1 Central Park South Penthouse. A true oasis above Central Park, this unparalleled penthouse recently underwent a meticulous, floor-to-ceiling renovation, taking many years to perfect. The most significant home to come to market this past Fall, Penthouse 2003 features more than 140 sq. ft. of Central Park views on two levels. An approx. 82 × 5.9 terrace is accessible through beautiful French doors leading to a glass parapet wall spanning the entire 21st floor. The home offers approx. 3,974 sq. ft. of interior living space and approx. 480 sq. ft. of terrace space.  The Penthouse condo sold for an incredible $29,000,000, or $7,297 per foot. This quarter’s top co-op sold in Lenox Hill for an impressive $27,000,000. 778 Park Ave Located is on Park Avenue and East 73rd Street. This truly exceptional residence redefines luxury and elegance in apartment living. Encompassing the entire 11th floor, this is one of Rosario Candela's most prestigious white-glove pre-war cooperatives. This spectacular and grand residence meticulously renovated by Peter Marino blends pre-war style with spacious grand rooms, soaring 12-foot ceilings, and floor-to-ceiling windows. These grand scale rooms are beautifully appointed, combining traditional style with all the luxuries you need for contemporary living and entertainment. Sunlight flows in from 39 windows, spanning all four exposures. Open views include the city skyline, one hundred feet of Park Avenue frontage, and distant views of Central Park to the west. The private elevator landing opens onto an impressive almost 40-foot gallery leading to the grand 32 × 20 living room, an elegant 25 × 18 formal dining room, and a wood-paneled library, all facing Park Avenue For bargain-seekers who still want Manhattan real estate, Washington Heights & Inwood are continuing to be the least-expensive residential areas. Average condos in these neighborhoods sold for $286,442 dollars, with average co-op sales for almost double at $514,373 dollars. You can visit our website, www.NewYorkMarketReports.com, to download the full version of this report, as well as take a closer look at the individual neighborhood reports. Be sure to check out the new report on Manhattan’s piers - where to go, and how they are adding value to NYC’s communities. If you like this information, the best way you can support us is with a 5-star rating. Share it with someone you know, and subscribe. We’ll put out new content and a whole new report every quarter. You can also find us on Facebook, Instagram & YouTube. Interested in getting a free market analysis of your Manhattan property, renting your vacant apartment, or simply acquiring an investment property? Email Us at Contact@TheRatnerTeam.com. We’re full-time professionals and always here to help! Thanks for listening.   Resources: Organifi Wix   - Our Proud Sponsors:  The RATNER Team  Spartan Renovations    ]]>bd8957d6bfdd460887cda810001e559aFri, 21 Jun 2019 19:36:46 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Manhattan Residential Sales Real Estate Market Report for the 1st quarter of 2019  Whether you already own or you’re looking to buy into the City’s most prestigious...www.NewYorkMarketReports.com Welcome to the Manhattan Residential Sales Real Estate Market Report for the 1st quarter of 2019  Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. Manhattan’s grandiose allure of culture, history, and business continues to hold an enviable position in the real estate world for buyers, owners and investors alike. Here’s the data. Just make sure you keep listening for this quarter’s record high sales. With an average selling price of $2,118,780, Manhattan’s Residential prices are continuing to increase over last year’s 1st quarter. Average price-per-square-foot rose again. This time by 4.2%,to $1,769 dollars, from $1,697 a foot in Q1 2018. This may always be one of the strongest global property markets, but today’s purchasers are getting less and less floor space for their buck. Total transactions tallied in at 2,121 this quarter. Down 2.7% percent, from a total of 2,180 sales in Q1 2018. We expect Manhattan to maintain this slow but steady pace at least till the end of Q2 2019. This is likely happening due to a combination of interest rates, new condo inventory in some areas, and a few other macro factors. On the bright side - the average selling price of new development condos rose 89.4% percent in this second quarter to $7,648,521. An absolute record so far!  That’s versus $4,038,067 in quarter 1 last year. The average time a new development condo spends on the market is up to around 246 days, compared to last year’s 213 days. The data for Manhattan’s existing condominium sales is almost as cheerful as new developments. These units saw a 25.1% percent increase from 2018. The average sale price for these properties ran around $3,347,929 in Q1 2019, compared to $2,676,281 dollars in 2018. However, the market time for existing condos has decreased by a few days, now averaging 116 days vs 131 in Q1 2019. Co-op sales fell 5.5% percent this quarter, recording an average sales price of $1,287,040. Market time increased fractionally as well, coming in at 90 days from 86 days this time last year. If you’re seeking a more stable market, co-ops continue to be worth a look. The luxury market is showing a big rebound, bringing very impressive numbers this quarter. The average selling price of a luxury Manhattan property was $10,120,384. An amazing rise of 27.4% from last year’s average of $8,974,737.Though luxury properties have actually been moving slower, being on the market for 184 days this quarter, compared to nearly 149 days in Q1 2018. Across the board, the average recorded price discount was just 1.4% percent.   Now for the top sales numbers for Q1 2019: The well-known neighborhood of Carnegie Hill topped Q1 2019, single-family residential sales. The most expensive unit was 25 wide, approximately 12,729 sq. ft. with 22 rooms, 9 bedrooms, 7 baths, 3 terraces, a garden, and soaring 13 ceilings. It’s one of the most beautiful spaces in Manhattan. Built in 1895, and located on a richly architected townhouse block off Fifth Avenue, adjacent to Central Park and the Metropolitan Museum of Art, the important 6 story neo-classical limestone facade with beautiful gated garden forecourt, was designed by the architect, Henry Andersen, and inspired by the leading architectural firm of its time, McKim, Mead and White.  This townhouse was sold for $30,139,360, or a fantastic $4,106 per foot. In Central Midtown, the record condo sale for this quarter goes to the 1 Central Park South Penthouse. A true oasis above Central Park, this unparalleled penthouse recently underwent a meticulous, floor-to-ceiling renovation, taking many years to perfect. The most significant home to come to market this past Fall, Penthouse 2003 features more...]]>475new,the,quarter,foot,report,team,reports,price,analysis,market,manhattan,york,third,residential,footage,2019,ratner,q1cleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the Manhattan Residential Sales Real Estate Market Report for the 1st quarter of 2019  Whether you already own or you’re looking to buy into the City’s most prestigious market, we’re keeping you up to date, so you can make the smartest moves. You’re listening to New York’s Real Estate Market Update from the Ratner Team. Manhattan’s grandiose allure of culture, history, and business continues to hold an enviable position in the real estate world for buyers, owners and investors alike. Here’s the data. Just make sure you keep listening for this quarter’s record high sales. With an average selling price of $2,118,780, Manhattan’s Residential prices are continuing to increase over last year’s 1st quarter. Average price-per-square-foot rose again. This time by 4.2%,to $1,769 dollars, from $1,697 a foot in Q1 2018. This may always be one of the strongest global property markets, but today’s purchasers are getting less and less floor space for their buck. Total transactions tallied in at 2,121 this quarter. Down 2.7% percent, from a total of 2,180 sales in Q1 2018. We expect Manhattan to maintain this slow but steady pace at least till the end of Q2 2019. This is likely happening due to a combination of interest rates, new condo inventory in some areas, and a few other macro factors. On the bright side - the average selling price of new development condos rose 89.4% percent in this second quarter to $7,648,521. An absolute record so far!  That’s versus $4,038,067 in quarter 1 last year. The average time a new development condo spends on the market is up to around 246 days, compared to last year’s 213 days. The data for Manhattan’s existing condominium sales is almost as cheerful as new developments. These units saw a 25.1% percent increase from 2018. The average sale price for these properties ran around $3,347,929 in Q1 2019, compared to $2,676,281 dollars in 2018. However, the market time for existing condos has decreased by a few days, now averaging 116 days vs 131 in Q1 2019. Co-op sales fell 5.5% percent this quarter, recording an average sales price of $1,287,040. Market time increased fractionally as well, coming in at 90 days from 86 days this time last year. If you’re seeking a more stable market, co-ops continue to be worth a look. The luxury market is showing a big rebound, bringing very impressive numbers this quarter. The average selling price of a luxury Manhattan property was $10,120,384. An amazing rise of 27.4% from last year’s average of $8,974,737.Though luxury properties have actually been moving slower, being on the market for 184 days this quarter, compared to nearly 149 days in Q1 2018. Across the board, the average recorded price discount was just 1.4% percent.   Now for the top sales numbers for Q1 2019: The well-known neighborhood of Carnegie Hill topped Q1 2019, single-family residential sales. The most expensive unit was 25 wide, approximately 12,729 sq. ft. with 22 rooms, 9 bedrooms, 7 baths, 3 terraces, a garden, and soaring 13 ceilings. It’s one of the most beautiful spaces in Manhattan. Built in 1895, and located on a richly architected townhouse block off Fifth Avenue, adjacent to Central Park and the Metropolitan Museum of Art, the important 6 story neo-classical limestone facade with beautiful gated garden forecourt, was designed by the architect, Henry Andersen, and inspired by the leading architectural firm of its time, McKim, Mead and White.  This townhouse was sold for $30,139,360, or a fantastic $4,106 per foot. In Central Midtown, the record condo sale for this quarter goes to the 1 Central Park South Penthouse. A true oasis above Central Park, this unparalleled penthouse recently underwent a meticulous, floor-to-ceiling renovation, taking many years to perfect. The most significant home to come to market this past Fall, Penthouse 2003 features more than 140 sq. ft. of Central Park views on two levels. An approx....Nohttps://www.spreaker.com/user/brooklynmade/new-york-office-leasing-market-report-q1www.NewYorkMarketReports.com Welcome to the New York Office Market Update  Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers…  This quarter rents appear to have cooled slightly, with more inventory becoming available, and new office models expanding. Still, big players like Google and WeWork continue to be bullish on NYC real estate, as well as JP Morgan which is planning to move their headquarters. Among the most notable stats, this quarter are a 17.9% drop in inventory in the Brooklyn office market year over year. While Manhattan’s availability rate rose slightly to 12.3%.   In Manhattan Total inventory stands at 451M square feet Percentage available for lease is up to 12.3% Absorption was negative by over 1.2 million square feet Asking rents are up to $76.13 per foot Over 19M square feet of office space is under construction  In Midtown leasing dropped 27.6% from the previous quarter And down 49.1% in Midtown South Leasing activity rose Downtown The highest asking rents were found in the Far West Side at $119.03 per square foot. The lowest asking rents were just $52.17 in the East Village   Notable leasing activity included: Over 500,000 feet taken by in NYC Health & Hospitals in Downtown East 51,000 square feet taken by Google in Hudson Square And 280,000 square feet taken at the Rockefeller Center by Akin, Grump Hauser & Feld    In Brooklyn Total inventory rose to 33.6M square feet Percentage available for lease fell to 15.9% The absorption rate is up Asking rents are up to $51 per square foot on average Office space under construction is up to 3.3M square feet Notable leasing activity included Amazon’s expansion from Manhattan, with 54,000 square feet at Liberty Industrial Plaza. Notable construction and renovation projects include: Dock 72 Domino Sugar Factory One Willoughby Square   In Terms of Market Factors & Economic Indicators NYC employment rose to 4.6M in Q1 2019 Unemployment fell to 4.2% Vacancy rates stood at 10.2% Additionally, in Manhattan, while subleasing reached its highest level of available space in 35 quarters, new leases in Downtown posted their strongest first quarter on record. Over 9M square feet of new office space is coming online this year. Though 84% of it is already reportedly pre-leased.   In summary…  Overall, this quarterly data suggests that the New York City office market is still in good shape. Far better than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into Brooklyn, where rents are cheaper and more space is available. While we should keep an eye on subleasing data, the strength of new and pre-leases suggests good balance in the market and not much to fear from new developments coming to market. There appears to be no lack of appetite for great properties in new locations.  With unemployment so low, upcoming job numbers may seem lean, though there isn’t much more of the population to employ. How much more office space we will need and be able to absorb may depend on recruiting more residents to the state, and continuing to make sure housing is affordable. Be sure to check out our multifamily reports for the latest data on the Brooklyn rental market. Find out more about the current market, competing listings, and where to get the best help in leasing or finding the space you need by contacting The Ratner Team.  Make sure you check out our vendor section for all the best resources you need for renovating, financing, managing and protecting your real estate assets in New York. Plus, don’t miss our new report on Manhattan and Brooklyn Piers. Including where to go, how innovation is reinventing them as exciting places to hang out, workout and live.  Well, that’s this quarterly NYC office market update. Leave us a comment and let us know what you are experiencing in the market, and what you’d like more detail on in the next report… Thanks for tuning in!  ]]>2ee2d1118c9e4c0ca04d55b75f6d369cMon, 17 Jun 2019 16:22:02 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the New York Office Market Update  Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate...www.NewYorkMarketReports.com Welcome to the New York Office Market Update  Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers…  This quarter rents appear to have cooled slightly, with more inventory becoming available, and new office models expanding. Still, big players like Google and WeWork continue to be bullish on NYC real estate, as well as JP Morgan which is planning to move their headquarters. Among the most notable stats, this quarter are a 17.9% drop in inventory in the Brooklyn office market year over year. While Manhattan’s availability rate rose slightly to 12.3%.   In Manhattan Total inventory stands at 451M square feet Percentage available for lease is up to 12.3% Absorption was negative by over 1.2 million square feet Asking rents are up to $76.13 per foot Over 19M square feet of office space is under construction  In Midtown leasing dropped 27.6% from the previous quarter And down 49.1% in Midtown South Leasing activity rose Downtown The highest asking rents were found in the Far West Side at $119.03 per square foot. The lowest asking rents were just $52.17 in the East Village   Notable leasing activity included: Over 500,000 feet taken by in NYC Health & Hospitals in Downtown East 51,000 square feet taken by Google in Hudson Square And 280,000 square feet taken at the Rockefeller Center by Akin, Grump Hauser & Feld    In Brooklyn Total inventory rose to 33.6M square feet Percentage available for lease fell to 15.9% The absorption rate is up Asking rents are up to $51 per square foot on average Office space under construction is up to 3.3M square feet Notable leasing activity included Amazon’s expansion from Manhattan, with 54,000 square feet at Liberty Industrial Plaza. Notable construction and renovation projects include: Dock 72 Domino Sugar Factory One Willoughby Square   In Terms of Market Factors & Economic Indicators NYC employment rose to 4.6M in Q1 2019 Unemployment fell to 4.2% Vacancy rates stood at 10.2% Additionally, in Manhattan, while subleasing reached its highest level of available space in 35 quarters, new leases in Downtown posted their strongest first quarter on record. Over 9M square feet of new office space is coming online this year. Though 84% of it is already reportedly pre-leased.   In summary…  Overall, this quarterly data suggests that the New York City office market is still in good shape. Far better than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into Brooklyn, where rents are cheaper and more space is available. While we should keep an eye on subleasing data, the strength of new and pre-leases suggests good balance in the market and not much to fear from new developments coming to market. There appears to be no lack of appetite for great properties in new locations.  With unemployment so low, upcoming job numbers may seem lean, though there isn’t much more of the population to employ. How much more office space we will need and be able to absorb may depend on recruiting more residents to the state, and continuing to make sure housing is affordable. Be sure to check out our multifamily reports for the latest data on the Brooklyn rental market. Find out more about the current market, competing listings, and where to get the best help in leasing or finding the space you need by contacting The Ratner Team.  Make sure you check out our vendor section for all the best resources you need for renovating, financing, managing and protecting your real estate assets in New York. Plus, don’t miss our new report on Manhattan and Brooklyn Piers. Including where to go, how innovation...]]>285facebook,tech,media,google,information,quarter,foot,report,one,per,advertising,brooklyn,price,office,market,etsy,leasing,2019,tami,q1cleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the New York Office Market Update  Here we dig into the latest data and trends to find out what is really happening in the local Office market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers…  This quarter rents appear to have cooled slightly, with more inventory becoming available, and new office models expanding. Still, big players like Google and WeWork continue to be bullish on NYC real estate, as well as JP Morgan which is planning to move their headquarters. Among the most notable stats, this quarter are a 17.9% drop in inventory in the Brooklyn office market year over year. While Manhattan’s availability rate rose slightly to 12.3%.   In Manhattan Total inventory stands at 451M square feet Percentage available for lease is up to 12.3% Absorption was negative by over 1.2 million square feet Asking rents are up to $76.13 per foot Over 19M square feet of office space is under construction  In Midtown leasing dropped 27.6% from the previous quarter And down 49.1% in Midtown South Leasing activity rose Downtown The highest asking rents were found in the Far West Side at $119.03 per square foot. The lowest asking rents were just $52.17 in the East Village   Notable leasing activity included: Over 500,000 feet taken by in NYC Health & Hospitals in Downtown East 51,000 square feet taken by Google in Hudson Square And 280,000 square feet taken at the Rockefeller Center by Akin, Grump Hauser & Feld    In Brooklyn Total inventory rose to 33.6M square feet Percentage available for lease fell to 15.9% The absorption rate is up Asking rents are up to $51 per square foot on average Office space under construction is up to 3.3M square feet Notable leasing activity included Amazon’s expansion from Manhattan, with 54,000 square feet at Liberty Industrial Plaza. Notable construction and renovation projects include: Dock 72 Domino Sugar Factory One Willoughby Square   In Terms of Market Factors & Economic Indicators NYC employment rose to 4.6M in Q1 2019 Unemployment fell to 4.2% Vacancy rates stood at 10.2% Additionally, in Manhattan, while subleasing reached its highest level of available space in 35 quarters, new leases in Downtown posted their strongest first quarter on record. Over 9M square feet of new office space is coming online this year. Though 84% of it is already reportedly pre-leased.   In summary…  Overall, this quarterly data suggests that the New York City office market is still in good shape. Far better than retail. Notable global corporations continue to prize prime property here. Many are expanding their footprints, with more expanding into Brooklyn, where rents are cheaper and more space is available. While we should keep an eye on subleasing data, the strength of new and pre-leases suggests good balance in the market and not much to fear from new developments coming to market. There appears to be no lack of appetite for great properties in new locations.  With unemployment so low, upcoming job numbers may seem lean, though there isn’t much more of the population to employ. How much more office space we will need and be able to absorb may depend on recruiting more residents to the state, and continuing to make sure housing is affordable. Be sure to check out our multifamily reports for the latest data on the Brooklyn rental market. Find out more about the current market, competing listings, and where to get the best help in leasing or finding the space you need by contacting The Ratner Team.  Make sure you check out our vendor section for all the best resources you need for renovating, financing, managing and protecting your real estate assets in New York. Plus, don’t miss our new report on Manhattan and Brooklyn Piers. Including where to go, how innovation is reinventing them as exciting places to hang out, workout and...Nohttps://www.spreaker.com/user/brooklynmade/brooklyn-residential-rental-market-repor_16www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers… This month’s Brooklyn rental market data is a refreshing change to the recent doom and gloom rumors about the economy and NYC property market. Leasing activity has surged, with intense competition between new apartment developers. The most expensive rentals in March 2019 were found in Dumbo. The least expensive were all in Bay Ridge. Among the most notable stats over the last month were a 48.1% increase in studio leases being signed. Followed by a 30.5% rise in two bedroom leasing. Month over month, Across all unit, types price per square foot rose by 2%. Yet, listing inventory still rose by 6.1%. Days on market dropped by 7.1% to just 26 days on average. Year over year, rental prices are up an average of 3.2% over the same period in 2018. The number of new leases being signed rose by 40.3%. Inventory is down by 1.6%, marketing time has reduced by 2 days. Free rent offered by owners rose 6.7%.  Now let’s take a look at rentals by unit type:   For studios The average rental rate was: $2,500 Average price per foot is $55.30 1 studio was No Fee, and 21 were Fee apartments Month over month changes saw rents down 4.8% but up 4.7% year over year. Units with elevators rented for around $200 more per month more than walk-up units last month. Gyms are still an in-demand amenity, adding almost $700 to the monthly rent. Units with full-time lobby attendance rented for around $700 more per month more. Having a laundry in the building added around $400 to rental rates last month.   For 1 bedrooms... The average rental rate was: $2,856  Average price per foot is down to $49 3, 1 beds were No Fee, versus 108 Fee apartments Month over month rents are up 3.2% year over year rents are up 6% No fee 1 bedrooms rented for around $500 less per month. Having a laundry in the building saw 1 beds renting for $3 more per square foot Units with private outdoor space are renting for almost $100 more per month The difference in rents for elevator versus walk-up units is almost $900 per month Units with gyms rented for $10 more per square foot last month. Buildings with full-time lobby attendants are renting for almost $900 more per month than those without attendants.   Now on to 2 bedroom rentals… The average rental rate was: $3,471 A $400 per month increase since January 2019  Average price per foot is $45.06 average unit size is 951 square feet Just 5, 2 bedroom apartment were a No Fee rental, versus 89 Fee rentals Month over month rents are up 0.7% Year over year they are down 1.1%  Having a laundry in the building added $5 per square foot to the rent last month Those WITH private outdoor spaces rented for almost $700 more per month A 2 bedroom with a gym in the building is renting for over $1,700 more per month Those withfull-timee lobby attendant are renting for around $1,000 more per month. There is around a $1,000 premium for elevator versus walk-up apartments.   For 3 bedroom apartments The average rental rate was: $4,615  The average price per foot was at $41.48 in March The average unit size is 1,165 square feet Month over month rents are up 7.3% year over year rents are up 8.3% Those with gyms rented for $11 more per square foot. Having a laundry in the building made a difference of almost $700 a month in March. Units WITHOUT private outdoor space rented for almost $300 less in March 2019 Elevator apartments rented for $10 more per square foot last month   In summary… This data shows the Brooklyn rental market beginning 2019 on a healthy note, and marching upwards with some of the strongest gains we’ve seen in a while. Year over year there seems to continue to be a nice pace of growth, and a great surge in new leases being signed. The sizable differences in rents for units with superior amenities also show how demanding tenants have become, as well as reflecting new construction units being snapped up. Some of this surge in new leasing could be due to renters jumping to new landlords to take advantage of special deals and to avoid rent hikes in current apartments, making it worth consulting a local expert before you raise the rent again. Find out more about the current market, competing listings, and where to get the best help in leasing your rental units by contacting The Ratner Team. Make sure you check out our vendor section for all the best resources you need for renovating, financing, managing and protecting your real estate assets in New York. Plus, don’t miss our new report on Manhattan and Brooklyn Piers. Including where to go, how innovation is reinventing them as exciting places to hang out, workout and live. Well, that’s this month’s NY rental market update. Leave us a comment and let us know what you are experiencing in the market, and what you’d like more detail on in the next report… Thanks for tuning in!  ]]>f423775284754e3dbcd05c1c793be23aMon, 17 Jun 2019 16:15:38 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords,...www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers… This month’s Brooklyn rental market data is a refreshing change to the recent doom and gloom rumors about the economy and NYC property market. Leasing activity has surged, with intense competition between new apartment developers. The most expensive rentals in March 2019 were found in Dumbo. The least expensive were all in Bay Ridge. Among the most notable stats over the last month were a 48.1% increase in studio leases being signed. Followed by a 30.5% rise in two bedroom leasing. Month over month, Across all unit, types price per square foot rose by 2%. Yet, listing inventory still rose by 6.1%. Days on market dropped by 7.1% to just 26 days on average. Year over year, rental prices are up an average of 3.2% over the same period in 2018. The number of new leases being signed rose by 40.3%. Inventory is down by 1.6%, marketing time has reduced by 2 days. Free rent offered by owners rose 6.7%.  Now let’s take a look at rentals by unit type:   For studios The average rental rate was: $2,500 Average price per foot is $55.30 1 studio was No Fee, and 21 were Fee apartments Month over month changes saw rents down 4.8% but up 4.7% year over year. Units with elevators rented for around $200 more per month more than walk-up units last month. Gyms are still an in-demand amenity, adding almost $700 to the monthly rent. Units with full-time lobby attendance rented for around $700 more per month more. Having a laundry in the building added around $400 to rental rates last month.   For 1 bedrooms... The average rental rate was: $2,856  Average price per foot is down to $49 3, 1 beds were No Fee, versus 108 Fee apartments Month over month rents are up 3.2% year over year rents are up 6% No fee 1 bedrooms rented for around $500 less per month. Having a laundry in the building saw 1 beds renting for $3 more per square foot Units with private outdoor space are renting for almost $100 more per month The difference in rents for elevator versus walk-up units is almost $900 per month Units with gyms rented for $10 more per square foot last month. Buildings with full-time lobby attendants are renting for almost $900 more per month than those without attendants.   Now on to 2 bedroom rentals… The average rental rate was: $3,471 A $400 per month increase since January 2019  Average price per foot is $45.06 average unit size is 951 square feet Just 5, 2 bedroom apartment were a No Fee rental, versus 89 Fee rentals Month over month rents are up 0.7% Year over year they are down 1.1%  Having a laundry in the building added $5 per square foot to the rent last month Those WITH private outdoor spaces rented for almost $700 more per month A 2 bedroom with a gym in the building is renting for over $1,700 more per month Those withfull-timee lobby attendant are renting for around $1,000 more per month. There is around a $1,000 premium for elevator versus walk-up apartments.   For 3 bedroom apartments The average rental rate was: $4,615  The average price per foot was at $41.48 in March The average unit size is 1,165 square feet Month over month rents are up 7.3% year over year rents are up 8.3% Those with gyms rented for $11 more per square foot. Having a laundry in the building made a difference of almost $700 a month in March. Units WITHOUT private outdoor space rented for almost $300 less in March 2019 Elevator apartments rented for $10 more per square foot last month   In summary… This data shows the Brooklyn rental market beginning 2019 on a healthy note, and marching upwards with some of the...]]>363studio,two,three,foot,report,one,per,march,brooklyn,price,market,rentals,rental,beds,2019,q1,bedroomscleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves. So, what’s new in New York Real Estate? Let’s take a look at the numbers… This month’s Brooklyn rental market data is a refreshing change to the recent doom and gloom rumors about the economy and NYC property market. Leasing activity has surged, with intense competition between new apartment developers. The most expensive rentals in March 2019 were found in Dumbo. The least expensive were all in Bay Ridge. Among the most notable stats over the last month were a 48.1% increase in studio leases being signed. Followed by a 30.5% rise in two bedroom leasing. Month over month, Across all unit, types price per square foot rose by 2%. Yet, listing inventory still rose by 6.1%. Days on market dropped by 7.1% to just 26 days on average. Year over year, rental prices are up an average of 3.2% over the same period in 2018. The number of new leases being signed rose by 40.3%. Inventory is down by 1.6%, marketing time has reduced by 2 days. Free rent offered by owners rose 6.7%.  Now let’s take a look at rentals by unit type:   For studios The average rental rate was: $2,500 Average price per foot is $55.30 1 studio was No Fee, and 21 were Fee apartments Month over month changes saw rents down 4.8% but up 4.7% year over year. Units with elevators rented for around $200 more per month more than walk-up units last month. Gyms are still an in-demand amenity, adding almost $700 to the monthly rent. Units with full-time lobby attendance rented for around $700 more per month more. Having a laundry in the building added around $400 to rental rates last month.   For 1 bedrooms... The average rental rate was: $2,856  Average price per foot is down to $49 3, 1 beds were No Fee, versus 108 Fee apartments Month over month rents are up 3.2% year over year rents are up 6% No fee 1 bedrooms rented for around $500 less per month. Having a laundry in the building saw 1 beds renting for $3 more per square foot Units with private outdoor space are renting for almost $100 more per month The difference in rents for elevator versus walk-up units is almost $900 per month Units with gyms rented for $10 more per square foot last month. Buildings with full-time lobby attendants are renting for almost $900 more per month than those without attendants.   Now on to 2 bedroom rentals… The average rental rate was: $3,471 A $400 per month increase since January 2019  Average price per foot is $45.06 average unit size is 951 square feet Just 5, 2 bedroom apartment were a No Fee rental, versus 89 Fee rentals Month over month rents are up 0.7% Year over year they are down 1.1%  Having a laundry in the building added $5 per square foot to the rent last month Those WITH private outdoor spaces rented for almost $700 more per month A 2 bedroom with a gym in the building is renting for over $1,700 more per month Those withfull-timee lobby attendant are renting for around $1,000 more per month. There is around a $1,000 premium for elevator versus walk-up apartments.   For 3 bedroom apartments The average rental rate was: $4,615  The average price per foot was at $41.48 in March The average unit size is 1,165 square feet Month over month rents are up 7.3% year over year rents are up 8.3% Those with gyms rented for $11 more per square foot. Having a laundry in the building made a difference of almost $700 a month in March. Units WITHOUT private outdoor space rented for almost $300 less in March 2019 Elevator apartments rented for $10 more per square foot last month   In summary… This data shows the Brooklyn rental market beginning 2019 on a healthy note, and marching upwards with some of the strongest gains we’ve seen in a while. Year over year there seems to...Nohttps://www.spreaker.com/user/brooklynmade/brooklyn-residential-rental-market-repor_15www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves.  So, what’s new in New York Real Estate? Let’s take a look at the numbers… This month’s Brooklyn rental market data was much better than in November when almost all trends were down. Finally, after 3 years, the amount of landlord concessions has begun to improve, those most still offered an average of 1.6 months of free rent to lure in new renters.     Among the most notable stats over the last month were a 40.6% increase in one bedroom leases being signed. Studio rental prices rose 41.6% year over year on a per square foot basis and 7.2% month over month. Month over month, Across all unit, types price per square foot fell 2.4%. Listing inventory fell by 4.2%, and days on market reversed course, dropping by 4 days to just 31 days on average. Year over year, rental prices are up an average of 0.8% over the same period in 2018. The number of leases being signed rose by 5.5%. Inventory is down by 2.3%, marketing time has reduced by 11.4%. Listing discounts decreased by 0.3%.   Now let’s take a look at rentals by unit type: For studios The average rental rate was: $2,481 Average price per foot is $52.89 4 studios were No Fee, and 86 were Fee apartments Month over month changes saw rents down 5%, but up 2.9% year over year.  Units with elevators rented for around $300 more per month more than walk-up units last month. While gyms are still an in-demand amenity, those without gyms actually rented for $16 more per square foot in December. Units with full-time lobby attendance rented for around $400 more per month more. Having a laundry in the building added around $400 to rental rates last month.   For 1 bedrooms... The average rental rate was: $2,822 Average price per foot is down to $47.52 1, 1 bed was No Fee, versus 113 Fee apartments Month over month rents are up 5.7% year over year rents are up 4%   No fee 1 bedrooms rented for around $600 less per month. Having a laundry in the building saw 1-beds renting for $10 more per square foot Units with private outdoor space are renting for almost $400 more per month The difference in rents for elevator versus walk-up units is almost $700 per month Units with gyms rented for $18 more per square foot last month. Buildings with full-time lobby attendants are renting for almost $900 more per month than those without attendants.   Now on to 2 bedroom rentals…  The average rental rate was: $3,071 Average price per foot is $38 average unit size is 975 square feet Just 2, 2 bedroom apartment was a No Fee rental, versus 81 Fee rentals Month over month rents are down 3.5% Year over year they are up 10.7%   Having a laundry in the building added $9 per square foot to the rent last month Those WITH private outdoor spaces rented for $9 more per square foot A 2 bedroom with a gym in the building is renting for over $700 more per month Those with full-time lobby attendant are renting for around $700 more per month. There is around a $400 premium for elevator versus walk-up apartments.   For 3 bedroom apartments The average rental rate was: $3,383  The average price per foot was at $35 in January The average unit size is 1,153 square foot Month over month rents are up 6.4% year over year rents are down 7%   Those with gyms rented for $4 more per square foot. Having a laundry in the building made a difference of almost $700 a month in January. Units WITHOUT private outdoor space rented for almost $200 less in January 2019 Elevator apartments rented for $9 more per square foot last month Having a full-time lobby attendant made an $11 per square foot difference   In summary… In spite of all the negative media coverage on the New York real estate market, and a weak November, the data shows the Brooklyn rental market began 2019 on a healthy note.  Yet, year over year there seems to continue to be a nice pace of growth, and a great surge in 1 bedroom apartment leases. The sizable differences in rents for units with superior amenities also show how demanding tenants have become, as well as reflecting new construction units being snapped up. However, some of this surge in new leasing could be due to renters jumping to new landlords to take advantage of special deals and avoid rent hikes in current apartments. Making it worth consulting a local expert before you raise the rent again. Find out more about the current market, competing listings, and where to get the best help in leasing your rental units by contacting The Ratner Team. Make sure you check out our vendor section for all the best resources you need for renovating, financing, managing and protecting your real estate assets in New York. Plus, don’t miss our new report on Manhattan and Brooklyn Piers. Including where to go, how innovation is reinventing them as exciting places to hang out, workout and live.   Well, that’s this month’s NY rental market update. Leave us a comment and let us know what you are experiencing in the market, and what you’d like more detail on in the next report…   Thanks for tuning in!  ]]>58b6ce7d42554034913f9eff0cbe551eMon, 10 Jun 2019 16:31:00 +0000Brooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords,...www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves.  So, what’s new in New York Real Estate? Let’s take a look at the numbers… This month’s Brooklyn rental market data was much better than in November when almost all trends were down. Finally, after 3 years, the amount of landlord concessions has begun to improve, those most still offered an average of 1.6 months of free rent to lure in new renters.     Among the most notable stats over the last month were a 40.6% increase in one bedroom leases being signed. Studio rental prices rose 41.6% year over year on a per square foot basis and 7.2% month over month. Month over month, Across all unit, types price per square foot fell 2.4%. Listing inventory fell by 4.2%, and days on market reversed course, dropping by 4 days to just 31 days on average. Year over year, rental prices are up an average of 0.8% over the same period in 2018. The number of leases being signed rose by 5.5%. Inventory is down by 2.3%, marketing time has reduced by 11.4%. Listing discounts decreased by 0.3%.   Now let’s take a look at rentals by unit type: For studios The average rental rate was: $2,481 Average price per foot is $52.89 4 studios were No Fee, and 86 were Fee apartments Month over month changes saw rents down 5%, but up 2.9% year over year.  Units with elevators rented for around $300 more per month more than walk-up units last month. While gyms are still an in-demand amenity, those without gyms actually rented for $16 more per square foot in December. Units with full-time lobby attendance rented for around $400 more per month more. Having a laundry in the building added around $400 to rental rates last month.   For 1 bedrooms... The average rental rate was: $2,822 Average price per foot is down to $47.52 1, 1 bed was No Fee, versus 113 Fee apartments Month over month rents are up 5.7% year over year rents are up 4%   No fee 1 bedrooms rented for around $600 less per month. Having a laundry in the building saw 1-beds renting for $10 more per square foot Units with private outdoor space are renting for almost $400 more per month The difference in rents for elevator versus walk-up units is almost $700 per month Units with gyms rented for $18 more per square foot last month. Buildings with full-time lobby attendants are renting for almost $900 more per month than those without attendants.   Now on to 2 bedroom rentals…  The average rental rate was: $3,071 Average price per foot is $38 average unit size is 975 square feet Just 2, 2 bedroom apartment was a No Fee rental, versus 81 Fee rentals Month over month rents are down 3.5% Year over year they are up 10.7%   Having a laundry in the building added $9 per square foot to the rent last month Those WITH private outdoor spaces rented for $9 more per square foot A 2 bedroom with a gym in the building is renting for over $700 more per month Those with full-time lobby attendant are renting for around $700 more per month. There is around a $400 premium for elevator versus walk-up apartments.   For 3 bedroom apartments The average rental rate was: $3,383  The average price per foot was at $35 in January The average unit size is 1,153 square foot Month over month rents are up 6.4% year over year rents are down 7%   Those with gyms rented for $4 more per square foot. Having a laundry in the building made a difference of almost $700 a month in January. Units WITHOUT private outdoor space rented for almost $200 less in January 2019 Elevator apartments rented for $9 more per square foot last month Having a full-time lobby attendant made an $11 per square foot difference   In summary… In spite of all the negative media coverage...]]>375studio,two,three,foot,report,one,per,brooklyn,price,market,january,rentals,rental,beds,2019,q1,bedroomscleanfullBrooklyn Made Real Estate ShowNew York Real Estate Market Updates www.NewYorkMarketReports.com Welcome to the New York Real Estate Market Update Here we dig into the latest data and trends to find out what is really happening in the local Brooklyn rental market to help landlords, real estate investors, and developers make the smartest financial moves.  So, what’s new in New York Real Estate? Let’s take a look at the numbers… This month’s Brooklyn rental market data was much better than in November when almost all trends were down. Finally, after 3 years, the amount of landlord concessions has begun to improve, those most still offered an average of 1.6 months of free rent to lure in new renters.     Among the most notable stats over the last month were a 40.6% increase in one bedroom leases being signed. Studio rental prices rose 41.6% year over year on a per square foot basis and 7.2% month over month. Month over month, Across all unit, types price per square foot fell 2.4%. Listing inventory fell by 4.2%, and days on market reversed course, dropping by 4 days to just 31 days on average. Year over year, rental prices are up an average of 0.8% over the same period in 2018. The number of leases being signed rose by 5.5%. Inventory is down by 2.3%, marketing time has reduced by 11.4%. Listing discounts decreased by 0.3%.   Now let’s take a look at rentals by unit type: For studios The average rental rate was: $2,481 Average price per foot is $52.89 4 studios were No Fee, and 86 were Fee apartments Month over month changes saw rents down 5%, but up 2.9% year over year.  Units with elevators rented for around $300 more per month more than walk-up units last month. While gyms are still an in-demand amenity, those without gyms actually rented for $16 more per square foot in December. Units with full-time lobby attendance rented for around $400 more per month more. Having a laundry in the building added around $400 to rental rates last month.   For 1 bedrooms... The average rental rate was: $2,822 Average price per foot is down to $47.52 1, 1 bed was No Fee, versus 113 Fee apartments Month over month rents are up 5.7% year over year rents are up 4%   No fee 1 bedrooms rented for around $600 less per month. Having a laundry in the building saw 1-beds renting for $10 more per square foot Units with private outdoor space are renting for almost $400 more per month The difference in rents for elevator versus walk-up units is almost $700 per month Units with gyms rented for $18 more per square foot last month. Buildings with full-time lobby attendants are renting for almost $900 more per month than those without attendants.   Now on to 2 bedroom rentals…  The average rental rate was: $3,071 Average price per foot is $38 average unit size is 975 square feet Just 2, 2 bedroom apartment was a No Fee rental, versus 81 Fee rentals Month over month rents are down 3.5% Year over year they are up 10.7%   Having a laundry in the building added $9 per square foot to the rent last month Those WITH private outdoor spaces rented for $9 more per square foot A 2 bedroom with a gym in the building is renting for over $700 more per month Those with full-time lobby attendant are renting for around $700 more per month. There is around a $400 premium for elevator versus walk-up apartments.   For 3 bedroom apartments The average rental rate was: $3,383  The average price per foot was at $35 in January The average unit size is 1,153 square foot Month over month rents are up 6.4% year over year rents are down 7%   Those with gyms rented for $4 more per square foot. Having a laundry in the building made a difference of almost $700 a month in January. Units WITHOUT private outdoor space rented for almost $200 less in January 2019 Elevator apartments rented for $9 more per square foot last month Having a full-time lobby attendant made an $11 per square foot difference   In summary… In spite of all the negative media coverage on the New York real estate market, and a weak November, the data...Nohttps://www.spreaker.com/user/brooklynmade/season-2-episode-2-interview-with-daan-f1252731c7fef498aa4d03b5ffbfeffbdFri, 07 Jun 2019 22:11:55 +0000Brooklyn Made Real Estate ShowWe create smart and electric bikes that we can sell to city dwellers around the globe, and our bikes recognize their riders. They have alarms, they have automatic lights, they have anti-theft tracking and a team of bike hunters that hunt them down and...1282van,electric,business,brooklyn,security,smart,store,bikes,retail,bicycle,bike,alarm,daan,riders,subscription,crafted,moof,brooklynmade,rekkerscleanfullBrooklyn Made Real Estate ShowWe create smart and electric bikes that we can sell to city dwellers around the globe, and our bikes recognize their riders. They have alarms, they have automatic lights, they have anti-theft tracking and a team of bike hunters that hunt them down and retrieve them when stolen.  Today we're super excited to be talking with Daan Rekkers of Van Moof USA, and that might not be a name that you're familiar with yet, but you're going to be at some point because Van Moof is rethinking the way the world is biking. So when you sit on one of their newly crafted smart bikes, you're kind of taken into the future where no one else has gone before, so let's jump in and Daan what do you do at Van Moof, did I say that right, Van Moof? [00:02:14.17] Yes, Van Moof that's exactly how you say it.  [00:02:17.18] You say it better, you say Van Moof okay I have to work on that.  [00:02:21.21] Van Moof, the way you say it is perfectly fine because of course consumer, but I basically run the US operation.  [00:02:33.05] It's a big job. [00:02:35.14] I know, yes. [00:02:37.01] Well let's start from the very beginning, what is Van Moof? [00:02:40.27] Very good question yes, we are a bike company, but we're also a tech company. So a bike meets Tech Company from Amsterdam with the aim of getting the next billion people on bikes in cities worldwide. We create smart and electric bikes that we can sell to city dwellers around the globe, and our bikes recognize their riders they have alarms, they have automatic lights, they have anti-theft tracking and a team of bike hunters that hunt them down and retrieve them when stolen. [00:03:15.19] What? That's crazy. So when we talk about what's smart about them as a rider, what am I experiencing that's different than other bikes? [00:03:24.17] After the basic like such automatic integrated lighting, an app that tracks and writes and reminds you where you parked, we're using tech to put bike thieves out of business. So our bikes are virtually theft proof, they have responsive alarms that kick in when a stranger touches it. The bike also sends messages when something fishy and something is going on basically in the area, and it also has anti-theft tracking in case it really happens that they get stolen. [00:04:02.13] Wow, this is a big deal, I mean and I imagine these bikes they cost a lot, you know they're smart so you want to know that they're secure and that you're safe to invest in them. [00:04:14.08] That's exactly right and that's why we trying to do, we try to tackle all those inconveniences that hold people from investing something in an actual good quality bike. [00:04:24.24] What is the philosophy behind the bikes, how did this get started, what's the thinking behind it? [00:04:30.15] We've really made it our mission to get the next billion people on bikes, so we're from Amsterdam and cycling capital of the world and we believe that cycling can really improve the ways we live. We breathe and move around cities in the world because we believe that the best and fastest most fun also way to get yourself from your A to B to get yourself around in the city is by a bike. That means we're constantly reimagining how the bike should work in cities of tomorrow, and we're taking down barriers to choose a quality bike. [00:05:07.01] The other thing that's nice about bikes is not having horns, like taxicab horns. [00:05:12.17] I also have to say that our newest model does have an actual horn, but it is actually a very like friendly sounding horn of which you can design any sound in a way you want. We basically chose for this option because like a classic bell, an addition is always like a sensitive and fragile part on the bike. Basically a part of can break and that's also how our company started, as we kind of redesigned the bike from scratch, like we saw a lot of additions to a bicycle like you don't really need or even stuff that you miss, and that's why we started from scratch again and we just wanted to design a...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_21d58965e391fc4897ae77ee53cc3ba83aWed, 05 Jun 2019 01:58:23 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing...480sugar,5th,google,midtown,sky,nyc,capital,chelsea,hill,home,red,away,project,east,madison,rose,companies,factory,domino,macyscleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing and investing in property in the Big Apple. Spartan Renovations is a leading NYC firm specializing in architectural and engineering design, project design and management and general contracting services.   This month’s roundup shows how the DNA of NYC and its real estate continues to change. While property sales and retail has been soft lately, a new wave of buildings all coming to market at the same time, and plenty more permits behind them could push the market solidly into one direction or the other. A new spree of recorded sales could be great. If they don’t happen, competition might create great acquisition opportunities across the NYC map.    The landscape is changing with new developments, and over the long run, there seems but no stopping New York as an innovative playground for real estate developers, architects, and creatives.   Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines… Here come the defaults. While there are plenty of shiny renderings to show off new developments coming to market, it seems the commercial mortgage defaults are beginning to pop up again as well.   545 Madison Avenue’s $30M loan from Barclays has entered special servicing due to “severe cash flow issues.” Last month another of Thor Equities’ landed in default over a $37M mortgage in struggling Soho. Another property on Fifth Ave. Thor exited a few years ago has also gone into default with over $230M in non-performing debt.   None of this seems to have deterred Warren Buffett from lending Kushner Companies $800M to finance a $1.1B portfolio purchase for apartments in MD and VA. Kushner Companies also seem to be on a spree of moving into new Opportunity Zones down the east coast, all the way to Miami.   VRBO and Home Away join Airbnb in the hot water for its short term rental business in NY. HomeAway has so far failed to supply listing data to the city as required. Expedia has purchased 3 short term rental platforms since 2015, including HomeAway for $3.9B. You may well have seen many of these private home and condos listed along with hotels on Expedia over the past couple of years.   Google has been going all in on Chelsea, with another $600M purchase of The Milk Building. This growing monopoly adds on to its $2.4B purchase last year, and is reportedly part of another $1B expansion spree.   If even some of Manhattan’s biggest deal makers can’t afford their rent these days, it’s no wonder homelessness in NYC is sill so big. Counts, which can be difficult to get right, already put the local population of homeless as big as the 10th largest city in the state. Shelter populations appear to remain flat, but the city continues to spend $3.2B on homeless services.   5G is coming. Well, they already have it in Chicago and Minneapolis. How long before we get it across NY is going to depend a lot on state and local lawmakers hasing out who gets what money from carriers and how much can be charged. Proposals call for $200 per ‘box’, versus what some are now charging over $2,000 for. If there isn’t a good compromise, it just isn’t going to make financial sense for the carriers to bring 5G here.    Among the newest amenities to hit the multifamily market is Brookfield’s new partnership with a delivery service and waste management firm which gives residents brand name items in reusable containers. Everything from popular brand cleaning products to ice cream and and juices are now delivered like the old milkman in eco-conscious, reusable containers to improve the sustainability of existing and new developments.   Tour 24 also has an app which now facilitates self guided tours for...Nohttps://www.spreaker.com/user/brooklynmade/season-2-episode-1-interview-with-dr-marContact@Brooklynmade.blog.   [00:01:46.23] Well hello, I am Suzanne Lynn, I'm the host of the Brooklyn made show and today well we have such a unique business and special lady heading it up. We're going to be talking with Marie from the Nordic Edge and for many of us this concept of cryotherapy is like some futuristic stuff, but Marie's going to share about the amazing health benefits of cryotherapy, and getting your body into temperatures twice as cold as the coldest month in Antarctica. So if I've got your attention now, let's jump in and meet Marie. Marie you're the owner of Nordic edge, first of all before we dive into this, tell us what is Nordic edge?   [00:02:24.27] Sure, so Nordic edge is a modern Wellness Center, we are primarily known for cryotherapy which is delivery of extremely cold temperatures for array of different health benefits. But we also have other therapies halo therapy; compression therapy, infrared sauna and we sell a slew of CBD products, so we like to consider ourselves innovative and modern and health benefits that we offer.   [00:02:57.14] So when you talk about these different CBD, is it mostly about relaxation and tension release or is there weight loss included and firming up, what are some of the benefits of this?   [00:03:11.03] So every service has a different main benefit to it, whole body cryotherapy is extremely beneficial for reducing inflammation that could come from autoimmune diseases or arthritis, chronic pain, acute pain, injuries we can target a specific area on your body if it's sore or we can get the entire body through our whole body chambers. For infrared sauna it's a little bit different, the main benefit is detoxing which also helps you lose weight and we also have others compression with blood circulation, halo therapy's more for respiratory conditions and our tea shock is really geared towards fat freezing, so we do have a different type of treatment pretty much for anyone.   [00:04:03.01] This is really cool, I mean this is truly groundbreaking stuff you're doing.   [00:04:07.03] Yes, a lot of this technology and therapies in general was taking from European countries, and bringing it to the United States and trying to keep again innovative and on top of all the new technologies that are out there. And frankly 10 years from now, cryotherapy the way that we deliver it now may be different and we always want to deliver the best and most modern therapies to our client.   [00:04:32.08] I'm interested by the fact that you said that a lot of this is coming from European traditions and things that they're doing, are they ahead of us?   [00:04:39.16] I like to think in terms of alternative medicines, absolutely. I would say even some types of medical procedures they are ahead of us, they're like experts in the field particularly on alternative medicine, say we are 10 years behind which is actually pretty spot-on for some of the therapies that were developed in Europe that I had brought along with other people to the United States about ten years later.   [00:05:15.21] Interesting. When I think about the way that we're eating in America compared to Europe, I mean we probably need to detox and get out this inflammation and everything because of the processed foods that are not approved in Europe, right?   [00:05:29.04] Yes, absolutely. I mean we spend an absolute fortune on health care costs in the United States, but yet our disease rates and our diabetes rates and heart disease rates are sky high compared to other European countries. We're spending a lot but the quality is not that great to compare to other, quality of life is not that great compared to other countries yes.   [00:06:00.24] Marie how did you get into cryotherapy in the first place?   [00:06:03.28] Well about five years ago I was working at the hospitals and mostly in the critical care section and a patient of mine had said that he had done the Cryo thing and that it's cured his back pain, and he's no longer on narcotics and being a nurse I was like yes, if it was that great it had to be all over the place. Anyway, I was interested, I just had a baby, I just went back to work, I was exhausted, and my hormones are all over the place, I did not feel good. I went on to this website, there was at the time one place in Manhattan doing whole body cryotherapy, it was owned by a Polish woman who had brought the technology over from Poland. So I went down there and the minute I stepped out of the whole body machine I had not felt that good in a very long time, I was hooked right away. But what caught me is that the person that was administering the treatment to me, they couldn't tell me exactly what was going on with my body and I had the questions being a nurse. And I was why do I feel this way, why am I so energized and they couldn't really tell me. No needless to say I had just gone into my I think it was my second year, going into my second year of my doctorate program and I had to take a dissertation topic in a research study, so I ended up writing my research on cryotherapy.   [00:07:38.11] Well timing is everything, isn't it?   [00:07:41.08] I know. So I learned so much about it, I learn so much about that particular therapy in general and 99% of the research was again done in Europe and not in the United States and at the end of my program I knew so much about it and there was still nothing around aside this little places in Manhattan and I said you know what I probably know more than anyone I could just open my own, so I ended up opening my first location three years ago.   [00:08:15.01] Wow, and it's going well?   [00:08:17.20] Yes, it's going well we have a couple locations now and we're continuing to grow.   [00:08:23.20] Can you kind of talk about what Cryo-T-Shock is?   [00:08:27.06] Sure, Cryo-T-Shock is a brand-new service that we just started launching last month. It's very similar people compare it to Cool Sculpting, however Cool Sculpting does the fat freezing, what Cryo-T-Shock does is also does fat freezing, also does cellulite reduction, toning and tightening and facials for anti-wrinkles, so there's four different functionalities of it. What Cool Sculpting does is uses high-frequency ultrasound to kill fat cells, what we use in the Cryo-T-Shock is thermal shock, which goes between heat and cold to kill the fat cells, and then there are different mechanisms and different thermal shock regimens as toning and tightening and the other three modalities. The before and after are unbelievable, we usually do about five sessions on a client, it depends on how much that you have, what areas were focusing on and so forth. But the results have been absolutely tremendous; again a technology from Europe, from Italy actually [Inaudible 00:09:43.20] that just came out to the market this 2018.   [00:09:45.27] Wow, as you're talking about this I'm hearing several different types of sessions here in America that we would have to sign up for and prepare for, I mean you're getting these all in one session?   [00:09:58.01] Yes, so we're really trying to be convenient for people and cost effective, even our whole body treatment they're three minutes long.   [00:10:10.29] Wow, you haven't seen my body Marie, I don't know about three minutes.   [00:10:18.08] But so the T-Shock is a little bit longer but the longest is going to be an hour. And yes we're trying to be as convenient and cost-effective as everyone, we are in New York you're the busiest people around even we don't have something to do with making. I would say about 90% of the people that come into our facility they're all walk-ins, they're coming in they're getting their stuff and they're getting out, so convenient yes.   [00:10:48.18] Wow, so who is your ideal clientele, I mean we're looking for someone who needs to lose a certain amount of inches because they've got a wedding coming up or who are we looking at?   [00:10:58.21] Actually the majority of people that come into our facility are in pain, and a lot of our services are geared around that and actually that's where I'm particularly interested and that's where I did most of my research on pain reduction and reduction of inflammation. And again most of our therapies are dealt around pain or some type of ailment that an individual have. The only thing that's more in the aesthetics or beauty arena would be the Cryo-T-Shock, which are those individuals that work out all the time or that constantly go to the gym, had babies or didn't have babies but they can't move that extra inch and they're trying to get that off or tighten it up, that's what perfect client for us or people that do have a couple of pounds on them, that wants to lose, that are trying to kick start a healthy lifestyle, that's what we're here]]>8f4092c4c2be48f399efb917b98060ebSat, 18 May 2019 15:42:13 +0000Brooklyn Made Real Estate Show[00:00:00.14] The before-and-after are unbelievable, we usually do about five sessions on, at times it depends on how much that you have, what areas are we focusing on and so forth, but the result has been absolutely tremendous. Again a technology...Contact@Brooklynmade.blog.   [00:01:46.23] Well hello, I am Suzanne Lynn, I'm the host of the Brooklyn made show and today well we have such a unique business and special lady heading it up. We're going to be talking with Marie from the Nordic Edge and for many of us this concept of cryotherapy is like some futuristic stuff, but Marie's going to share about the amazing health benefits of cryotherapy, and getting your body into temperatures twice as cold as the coldest month in Antarctica. So if I've got your attention now, let's jump in and meet Marie. Marie you're the owner of Nordic edge, first of all before we dive into this, tell us what is Nordic edge?   [00:02:24.27] Sure, so Nordic edge is a modern Wellness Center, we are primarily known for cryotherapy which is delivery of extremely cold temperatures for array of different health benefits. But we also have other therapies halo therapy; compression therapy, infrared sauna and we sell a slew of CBD products, so we like to consider ourselves innovative and modern and health benefits that we offer.   [00:02:57.14] So when you talk about these different CBD, is it mostly about relaxation and tension release or is there weight loss included and firming up, what are some of the benefits of this?   [00:03:11.03] So every service has a different main benefit to it, whole body cryotherapy is extremely beneficial for reducing inflammation that could come from autoimmune diseases or arthritis, chronic pain, acute pain, injuries we can target a specific area on your body if it's sore or we can get the entire body through our whole body chambers. For infrared sauna it's a little bit different, the main benefit is detoxing which also helps you lose weight and we also have others compression with blood circulation, halo therapy's more for respiratory conditions and our tea shock is really geared towards fat freezing, so we do have a different type of treatment pretty much for anyone.   [00:04:03.01] This is really cool, I mean this is truly groundbreaking stuff you're doing.   [00:04:07.03] Yes, a lot of this technology and therapies in general was taking from European countries, and bringing it to the United States and trying to keep again innovative and on top of all the new technologies that are out there. And frankly 10 years from now, cryotherapy the way that we deliver it now may be different and we always want to deliver the best and most modern therapies to our client.   [00:04:32.08] I'm interested by the fact that you said that a lot of this is coming from European traditions and things that they're doing, are they ahead of us?   [00:04:39.16] I like to think in terms of alternative medicines, absolutely. I would say even some types of...]]>1408sport,pain,therapy,brooklyn,marie,injuries,management,cbd,salt,infrared,compression,cryotherapy,oconnor,cryo,tshocktherapy,thenordicedge,nordicfacialcleanfullBrooklyn Made Real Estate Show[00:00:00.14] The before-and-after are unbelievable, we usually do about five sessions on, at times it depends on how much that you have, what areas are we focusing on and so forth, but the result has been absolutely tremendous. Again a technology from Europe, that just came out to the market in 2015.   [00:00:20.15] From the Ratner team this is the Brooklyn made podcast, the show about Brooklyn real estate, entrepreneurs, businesses and the professionals behind one of the hottest real estate markets in the world. The Brooklyn made show is a one-stop shop for anyone interested in New York real estate, entrepreneurship and business. On the show you'll learn valuable insights from New York's industry leaders stay up to date with the latest local real estate and business news, follow market trends, listen to exciting local stories and much more. Each month our show will feature local entrepreneurs, professionals and real estate experts that we are eager for you to meet.    [00:01:28.05] If you're interested in sponsoring our podcasts or advertising on our Brooklyn made blog and giving your company the exposure of our audience and network, get in touch with us today at 347-762-0275 or email us at Contact@Brooklynmade.blog.   [00:01:46.23] Well hello, I am Suzanne Lynn, I'm the host of the Brooklyn made show and today well we have such a unique business and special lady heading it up. We're going to be talking with Marie from the Nordic Edge and for many of us this concept of cryotherapy is like some futuristic stuff, but Marie's going to share about the amazing health benefits of cryotherapy, and getting your body into temperatures twice as cold as the coldest month in Antarctica. So if I've got your attention now, let's jump in and meet Marie. Marie you're the owner of Nordic edge, first of all before we dive into this, tell us what is Nordic edge?   [00:02:24.27] Sure, so Nordic edge is a modern Wellness Center, we are primarily known for cryotherapy which is delivery of extremely cold temperatures for array of different health benefits. But we also have other therapies halo therapy; compression therapy, infrared sauna and we sell a slew of CBD products, so we like to consider ourselves innovative and modern and health benefits that we offer.   [00:02:57.14] So when you talk about these different CBD, is it mostly about relaxation and tension release or is there weight loss included and firming up, what are some of the benefits of this?   [00:03:11.03] So every service has a different main benefit to it, whole body cryotherapy is extremely beneficial for reducing inflammation that could come from autoimmune diseases or arthritis, chronic pain, acute pain, injuries we can target a specific area on your body if it's sore or we can get the entire body through our whole body chambers. For infrared sauna it's a little bit different, the main benefit is detoxing which also helps you lose weight and we also have others compression with blood circulation, halo therapy's more for respiratory conditions and our tea shock is really geared towards fat freezing, so we do have a different type of treatment pretty much for anyone.   [00:04:03.01] This is really cool, I mean this is truly groundbreaking stuff you're doing.   [00:04:07.03] Yes, a lot of this technology and therapies in general was taking from European countries, and bringing it to the United States and trying to keep again innovative and on top of all the new technologies that are out there. And frankly 10 years from now, cryotherapy the way that we deliver it now may be different and we always want to deliver the best and most modern therapies to our client.   [00:04:32.08] I'm interested by the fact that you said that a lot of this is coming from European traditions and things that they're doing, are they ahead of us?   [00:04:39.16] I like to think in terms of alternative medicines, absolutely. I would say even some types of medical procedures they are ahead of us,...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_207c9ce6e05e8f4091a359d84351f23bffMon, 13 May 2019 16:16:02 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing...436online,control,rent,nyc,brooklyn,universal,point,pod,newyork,regulations,prices,retail,rental,hotels,axe,airbnb,throwing,1flatbushcleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing and investing in property in the Big Apple. Spartan Renovations is a leading NYC firm specializing in architectural and engineering design, project design and management and general contracting services. While we’re still dealing with rumors of a softening market and a lot of regulatory issues, this month’s data shows some surprisingly strong data, as well as ongoing strength in development. Many even think this could just be the beginning for the rebound of some property types. The market may have changed, but there’s no holding back New York as an innovative playground for real estate developers, architects, and creatives. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines… Despite all the doom and gloom talk a few months ago NYC rental prices are still heading up. Manhattan rents just hit a 3 month high, while Queens and Brooklyn hit new all-time record high rental prices. Protesters continue to march for universal rent control. We all know the rent is high. We all know that there are bad owners and landlords who have not been nice to renters. Yet, it is hard to have it all. It’s hard to demand government subsidies and public services, which end up coming out of landlords’ pockets in the form of higher property taxes, and then to expect the rent not to go up. Some landlords in NY have been facing property taxes going up by more than 50% per year. Unless they can pass those costs onto tenants, they may not have a place to live in soon anyway. Airbnb continues to be a touchy subject in NYC. Prospect Leffert Gardens tenants recently sued their landlord after finding routine maintenance unsolved, while the property owner fitted empty units with luxury appliances so they would rent on Airbnb. The hot new neighborhood amenity that’s trending in Brooklyn this month? Have you tried axe throwing yet? You’ll now find axe throwing venues popping up in Gowanus, Greenpoint, Downtown Brooklyn, and Williamsburg. Crain’s says that NYC is still creating jobs, but is still bleeding residents. New York recently topped the list of US states for people leaving. People will always want to move to the Empire State. Especially from overseas. Yet, many New Yorkers are finally being forced to cave and move to where it’s cheaper and the taxes are lower. This comes right when new legislation and regulations are set to make it even more expensive to build in NY, and maybe even block new developments like the Hudson Yards. This may be specifically true of carbon-cutting measures and forced cuts to buildings’ energy consumption levels. Someone has to pay for the changes, and that’s often going to fall on the building owners. This is all going to make it more expensive not only to build but in turn to renting the end units. Another new hit to big developers is the recent closing of the mechanical void loophole, preventing supertall buildings from jacking up building heights with empty space to bolster their bragging rights and enable them to charge more for higher floor apartments.   One response to all of this is a new spree in building pod hotels. BD Hotels is planning 50 new buildings with micro rooms as small as a sixth of the size of a regular hotel room. They already have at least four across Manhattan and Brooklyn. The really good news this month is that mountains of capital have been raised for investing in real estate. BisNow reports there is $338B in dry powder capital waiting in funds, ready to be invested as of April 2019. Another incredible bright spot for commercial real estate may be what’s next for today’s hugely popular online retail brands. Some are arguing that...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_19www.brooklyncreativelofts.com. Bed Stuy’s Restoration Plaza is set for a new renovation with the help of British Starchitect David Adjaye. Also in Bed Stuy, a new 235 unit apartment complex has been approved. Features include 108 bike parking spaces, a grocery store, a farm and aquaponics learning center.  The first of the new She Built NYC series of statues is becoming close to a final design. The memorial for Brooklyn Born Shirley Chisholm will rest in Prospect Park. In Williamsburg, the lottery has opened for Eliot Spitzer’s waterfront building and a shot at one of its 121 low income units. Despite the ‘affordable’ price ta, residents can still expect to spend over 30% of their monthly income, if they win a spot. Equinox has gone from a luxury gym chain to opening its own hotels. It’s first opens at the Hudson Yards, with 212 rooms, a thermostats set to 66 degrees for better sleep, and an on-call nurse for IV drips for overcoming hangovers. Nightly rates will start over $700.   In other boroughs The $25B Hudson Yards project is now open. The arts center The Shed kicked off with a five night concert on April 5th. A deal gone bad in the Bronx has opened up a legal dispute over the $1.2M down payment put up by Hello Living. While New York may be battling some woes in some sections of its real estate market, BisNow proclaims that as the new top home for tech companies, NYC, and Brooklyn and Queens in particular is seeing a new rise in demand. Not only for housing units, but also for creative office spaces and amenities to serve tech workers. Still, Manhattan hasn’t lost its appeal to everyone. The Walking Dead’s Negan actor has just added a $2.85M, 2 bedroom unit in downtown to their holdings. Though, it’s unlikely they’ll leave their upstate farm to live in the city full time. However, Tommy Hilfiger is the latest major retailer to pull out of Manhattan. It is quitting its flagship store on Fifth Ave., as local restaurants have shed thousands of jobs and over 25% of retail space in Manhattan is now believed to be empty.   In conclusion... This month’s New York real estate news roundup is definitely positive. In spite of rising inventory levels in luxury condominiums and retail spaces, those who can afford it are still clearly in love with NYC property, and are willing to pay a premium for it. The new tech scene is likely to further feed the market, especially in Brooklyn and Queens. Any temporary slowdowns certainly are not deterring world class developers, architects and innovators from unveiling progressive new buildings and communities. If you have the right product, in the right place, at the right price, and it is marketed well, investors can still expect great successes. Well, that’s it for this month’s round up. Look out for our other upcoming reports, and check out the latest data on the Manhattan and Brooklyn residential and multi-family market, and which features and neighborhoods are yielding the best rents at NewYorkMarketReports.com.   Thanks again to our sponsors, The Ratner Team, and SpartanRenovations.com for making these reports and delivering this valuable information possible!  Make sure you like and share this report, and leave your comments on this news, or any trends you think we overlooked or you want to hear more about in the comments section.  ]]>ec0da9dfc0c240ac9c827977c4d395daFri, 19 Apr 2019 19:04:25 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made.   This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing...486technology,restoration,hudson,plaza,equinox,recognition,eliot,spitzer,fha,ing,developments,architectural,yards,wework,faciacleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made.   This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing and investing in property in the Big Apple. Spartan Renovations is a leading NYC firm specializing in architectural and engineering design, project design and management and general contracting services. This month we’re taking a look at the latest developments, new technology that is scaring renters, what’s happening with the banks and lenders, tax issues, new design trends and celebrity property deals. The market may have changed, but there’s no holding back New York as an innovative playground for real estate developers, architects, and creatives of all types. Keep listening to get the scoop on all of this, the most notable news this month and what it means for landlords and investors.   In the commercial real estate headlines…   Brooklyn tenants don’t appear to be too happy about the latest real estate tech their landlords are trying out. The landlord of the Atlantic Plaza Towers is attempting to install biometric security systems to limit entry to those passing the facial recognition technology. Renters are pushing back, and are for obvious reasons concerned about their privacy. Despite all the debates over budgets and the need for more taxes, NYC appears to be literally flush with cash. The average public bathroom built by the New York City Parks Department has been costing taxpayers $3.6M. That may soon seem like a bargain. The Bronx is getting a new $4.7M bathroom at Ferry Point West Park. Staten Island is getting a new $6M public bathroom. Banks and lenders finally seem to be adjusting to the new trajectory of the real estate market. That’s even causing problems for $47B giant We Work. ING appears to be the latest to turn them down, with Softbank pulling back from a plan to invest $16B in the company. The FHA has also announced it is tightening underwriting standards. It will flag more loan applications as high risk after years of allowing subprime level credit scores, down payments and debt to income ratios. A court has ruled that a case against a major landlord for rent inflation can proceed. While we all want to preserve affordable housing, who’s stopping the tax inflation. It is great to keep rent increases gradual, but landlords face constantly rising costs for workers, maintenance, materials, insurance and taxes. Without being able to pass some of those costs on, which the public (including renters) have approved, then who will operate these buildings which have such low or negative yields? This includes the recent property transfer tax which levies a Realtor level commission against those selling their homes. The two levels of taxes from the state and NYC can now reach over 3% of the sales price. With more people leaving New York due to high taxes, Governor Cuomo says he is having a hard time keeping up with calculating a budget. With tens of thousands of people leaving and spending rising, those bills must be spread across fewer taxpayers. If you’d like a place that is a little less crowded, with a few less neighbors in NYC, then some of the newer luxury buildings on the market might be for you. At 520 West 28th St., the Zaha Hadid designed building has only seen 16 of 39 apartments sold. The building has been opened for two years already. More concerning is the fact that the building carries a $162M mortgage, but has only sold $132M in units. Queens is working on an idea to rival the Hudson Yards by building above its own Sunnyside Yards rail hub. Not everyone is onboard. Some would like to see more development in existing neighborhoods. The complex master planned project would cover 180 acres and likely feature housing, schools and parks. Who says they aren’t making more land? In a move possibly mirroring developments in Dubai and Monaco, Mayor Bill de...Nohttps://www.spreaker.com/user/brooklynmade/new-york-real-estate-news_18fa4e6047dbf34ab5bdcc845e6aed7b82Tue, 26 Mar 2019 15:39:17 +0000Brooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing...443news,new,estate,control,rent,nyc,real,manhattan,mayor,universal,tax,regulations,douglas,february,property,credits,penthouse,assessment,cuomo,ellimancleanfullBrooklyn Made Real Estate ShowWelcome to the newest New York Real Estate Update from Brooklyn Made. This is episode is brought to you by our sponsors The Ratner Team and Spartan Renovations. The Ratner Team are your local New York real estate experts for buying, selling, leasing and investing in property in the Big Apple. Spartan Renovations is a leading NYC firm specializing in architectural and engineering design, project design and management and general contracting services. This month we’ve seen more positive signs of faith in the market. Even though at least one real estate brokerage is suffering with a big drop in profits due to slow sales. Amazon’s pull out of Long Island City is going to make a lot of people very unhappy, though plenty of other businesses are upping their stake in NYC. We’re still seeing lot of big commercial real estate loans being made, and new permits being filed. Though new regulations see to be piling up just as fast. Keep listening to get the scoop on all of this, the most notable deals of the month and what it means for landlords and investors.   In the commercial real estate headlines... Despite all the great commercial leasing activity we reported last month, we also covered come of Extell’s pains and struggles. This month it is Douglas Elliman who is really feeling the pinch. The real estate brokerage’s profits are down 75% over the last year. Meaning in 2018 they only made a quarter of their profits of 2017. They say they are paring down, but won’t cut agent commissions.   While rebel startups Uber and Lyft are preparing for an IPO and are talking about handing out bonuses and stock to long term employees and top drivers, Airbnb continues to face plenty of legal challenges in NYC. The city sent 718 violations to 139 one and two family homes in the last year. Though that pales in comparison to the violations sent to apartments. Fines can easily reach into the thousands of dollars.   NYC’s mayor has now gone even further in issuing a subpoena to Airbnb demanding listing information to weed out illegal landlords who are breaking the law and operating with the same business licenses hotels require.   Zillow is also in hot water again. The company is being sued in federal court over incorrect data. Specifically by one spec builder whose home Zillow reported as sold for under the listing price. The property is still actively for sale. The seller is going after damages in the amount of $60M. Should the case win, who knows how hard Zillow could be hit. Countless individuals, real estate agents and investors have been hurt by the firm’s poor data and flawed home value tools over the years. It could certainly potentially become the largest class action suit in history when given the number of homes and individuals involved. Say hello to universal rent control. Oregon just passed a measure that would cap virtually every property at rent increases of half the current pace. Brooklyn’s state senator has also moved in legislation aimed at doing the same. Only limiting local rent increases to 3.3% per year.  Of course, none of this is slowing down WeWork, who just leased over 200,000 square feet at 199 Water Street. It’s 7th location in the Financial District.  Coliving developers are also bullish. They say they are getting 44% more per square foot using their approach to shared housing. The question is, with rents running over $2,000 per person for shared digs, will it be sustainable? Back to regulations, Cuomo wants to bar property owners from applying for property tax credits for six years if they are caught improperly applying for them. A rule he intends to work into other upcoming legislation. New regulations could be coming to cap ceiling heights in new developments. Developers are accused of using abnormal ceiling heights and vast empty spaces to boost property height and charge buyers more for higher floor units. Regulations aim to discourage builders from any ceiling over 12 feet high. Last month we covered the...No