Archive for In The News

Apr
26

In the News – April 26, 2015

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4/23/15 Douglas Elliman releases Elliman Report for 1st Quarter 2015 Los Angeles Sales: Housing prices in Los Angeles have been rising for nearly three years. Inventory remained low with more sales in the first quarter than last year. This was the highest number of sales in nine years. With rising sales, rising prices and low inventory, there was limited negotiability between buyers and sellers. We anticipate these conditions to continue through the spring market.  See the Full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Aspen Sales:  Aspen housing market prices increased for the fifth consecutive quarter caused by falling inventory and a shift to larger sized sales. First quarter median sales price reached its highest level in five years. The market moved at a faster pace as sales increased and inventory declined. Snowmass Village followed a similar pattern of rising prices and sliding inventory.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Long Island Sales: Long Island housing inventory remained low as sales increased. The faster pace of the market made housing prices rise across much of the region. Luxury housing prices increased at a faster rate than the overall market. Without significant new supply entering the market, these trends are expected to continue through the coming quarters.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Hamptons Sales: The Hamptons housing market has been on a tear, having the highest median sales price in a decade and the most first quarter sales in eight years. Much of the market’s strength was concentrated in the $1 million to $5 million price range. An improving regional economy and low inventory have continued to keep the pressure on the market.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 North Fork Sales:  First quarter North Fork housing sales reached an eight-year high as inventory fell, pushing housing prices up. Prices were generally higher and marketing times were faster. Rising sales and limited supply combined to create the fastest moving market in eight years. See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Fairfield County Connecticut Sales:  Fairfield County began 2015 with the most first quarter sales in nine years and the lowest amount of inventory in a decade. With rising demand and falling inventory, housing prices increased in both the overall and luxury markets at about the same rate.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1 Quarter 2015 Greenwich, CT Sales:   Both sales and prices for the Greenwich condo market increased as inventory fell. Single family inventory expanded causing sales to take about the same time to sell as last year while condos sold more quicklySee the full report at Elliman.com

 

 

Jan
25

In the News – January 25, 2015

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01/22/15:  Douglas Elliman Releases Elliman Report for 4th Quarter 2014 Miami Beach Sales/Barrier Island Sales.  Overall housing prices in Miami Beach and the Barrier Islands continued to rise, attracting more inventory to the market and providing buyers with more choices. Luxury condo price increases outpaced the overall market as a result of the absorption of new development.  See the full report at Elliman.com

01/22/15: Douglas Elliman Releases Elliman Report for 4th Quarter 2014 Miami Costal Mainland Sales.  Sales and housing prices on the Miami Coastal Mainland were well above the results for last year. Condo sales and prices increased more than the single family market. Luxury condo prices rose as the market continues to shift towards higher quality developments. Marketing times fell despite the addition of inventory to the market.  See the full report at Elliman.com

01/22/15: Douglas Elliman Releases Elliman Report for 4th Quarter Boca Raton Sales.  Boca Raton housing prices were again higher than last year. Sales activity increased faster than the addition of new inventory.  The brisk market pace resulted in shorter marketing times and less negotiability between buyers and sellers.  See the full report at Elliman.com

 

 

Jan
18

In the News – January 18, 2015

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01/15/15: Douglas Elliman Releases Elliman Report for 4th Quarter 2014 Brooklyn Sales.  Brooklyn housing prices increased for the ninth consecutive quarter, pushing the annual median sales price to a record high.  Sales slipped from year ago levels but remained consistent with historical trends.  Rising prices have pulled more sellers into the market as inventory comes up from last year’s record lows.  With the improving economy, we anticipate similar conditions over the coming quarters. See the full report at Elliman.com 

01/15/15:  Douglas Elliman Releases Elliman Report for 4th Quarter 2014 Queens Sales.  The Queens housing market finished the year with rising prices in the fourth quarter.  Sales fell short of last year’s levels while inventory edged higher.  Despite the slower pace of the market, marketing times were shorter and negotiability between buyers and sellers was reduced.  See the full report at Elliman.com.

1/15/15:  Douglas Elliman Releases Elliman Report for 4th Quarter 2014 Westchester and Putnam Sales.  Westchester housing prices have increased or moved sideways for the eighth consecutive quarter.  Prices in the luxury market increased faster than the overall market.  Unlike the most of the region, listing inventory declined as sales increased, resulting in a faster market pace than last year.  Low inventory is expected to keep the pressure on housing prices well into the new year.

The combination of sharply rising number of sales and a modest increase of inventory caused the housing prices in Putnam to increase.  Shorter marketing times and less negotiability between buyers and sellers resulted in an accelerated pace of the market.  See the full report at Elliman.com.

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Oct
19

In the News – October 19, 2014

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10/15/14 Douglas Elliman Releases 3QTR 2014 Elliman Report for Miami Beach/Barrier Island Sales: Housing prices in the Miami Beach/Barrier Islands moved higher, pulling additional inventory into the market.  Although the market hasn’t kept up with last year’s blistering sales pace, the time to market a property fell.  Luxury housing prices gains continued to outperform the overall market.  See the full report at Elliman.com ; in Spanishin Portuguese 

10/15/14 Douglas Elliman Releases 3QTR 2014 Elliman Report for Miami Costal Mainland Sales:  Miami Coastal Mainland housing prices increased above last year’s levels.  The luxury housing market showed strong results as the size of the distressed housing market continued to fall.  Inventory increased as more sellers were drawn into the market by rising prices and the number of sales increased. .  See the full report at Elliman.com    in Spanish:  in Portuguese

10/15/14 Douglas Elliman Releases 3QTR 2014 Elliman Report for Boca Raton Sales:  Overall housing prices in Boca Raton were higher than last year as the number of sales declined from last year’s heavy volume.  Luxury housing market fell short of last year’s levels as marketing times and negotiability continued to fall, keeping the market tight.  See the full report at Elliman.com

10/15/14 Douglas Elliman Releases 3QTR 2014 Elliman Report for Palm Beach Sales:  Palm Beach housing prices jumped led by the luxury market and the shift to larger sized sales.  Listing inventory continued to fall across the majority of the market, keeping the pressure on prices.  Sales fell short of last year’s levels as marketing times declined, hampered by the lack of supply. See the full report at Elliman.com

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Feb
02

In the News – February 2, 2014

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1/30/14  Douglas Elliman Releases Decade Report for Manhattan Townhouse Sales 2004-2013:  Like the apartment market, Manhattan townhouse sales jumped and prices edged higher over the past year. Inventory continued to fall, resulting in the fastest paced market in 17 years. There were noticeable gains in market share of 3-5 unit/family sales, as more consumers looked to convert them to single family homes. We anticipate additional improvements in the townhouse market over the coming year.  See the full report at Elliman.com

 

 

Jan
26

In the News – January 26, 2014

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1/23/14  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Long Island Sales:  The Long Island housing market had a strong finish with the most 4th quarter sales in seven years and the lowest inventory levels in twelve years. In addition, median sales price reached the highest fourth quarter level in four years. Rising mortgage rates pulled many people into the market who have been on the sidelines for the past several years. Over the past decade, the luxury market outperformed the overall market, although this past quarter, the luxury market was in sync with the entire marketplace. As the regional economy slowly improves, we anticipate more improvement over the coming quarters.  See the full report at Elliman.com

1/23/14  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Hamptons Residential Sales:  The housing market in the Hamptons finished 2013 showing stability, after adjusting for the impact of last year’s “fiscal cliff” rush of buyers at the upper end. The current market has returned to a more normal mix of sales, as housing prices remained stable. The number of days to sell a property and the negotiability between buyers and sellers fell reflecting the tightness of the current market. Our “Decade” report showed that luxury market price trends outpaced the overall market. Given the high sales activity in New York City and reported rise of Wall Street bonuses, we look forward to a busy 2014 market.  See the full report at Elliman.com  

1/23/14  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 North Fork Sales:  The North Fork housing market closed out the year with the highest quarterly sales total in five years. Inventory fell slightly from last year. Like the Hamptons market to the south, the North Fork also saw the rush of high-end buyers at the end of 2012, which caused prices to show a decline in the most recent quarter. Both days on market and listing discount fell, as market conditions remained “tight.” We look to an improving market over the next several quarters.  See the full report at Elliman.com

1/23/14 Douglas Elliman Releases 2004-2013 Hamptons and North Fork Decade Report:  See extensive Charts and Graphs for various sales data for the Hamptons and North Fork markets with comparisons over the past decade at Elliman.com.

1/23/14:  Douglas Elliman Releases 2004-2013 Long Island Decade Report:  See Extensive Charts and Graphs for various sales data for the Long Island Residential Sales Market with comparisons over the past decade at Elliman.com 

Jan
12

In the News January 12, 2014

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1/9/14:  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Brooklyn Sales:  Brooklyn’s housing market continued to be one of the strongest in New York City with rising prices and sales as well as a large decline of inventory. It is also the only borough to see the median sales price exceed the levels set during the previous boom. The combination of rising sales and falling supply made the market move at the second fastest rate in 5 years. We expect this momentum to carry into 2014 as the economy improves.  See the full report at Elliman.com

1/9/14:  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Queens Sales:  The Queens housing market had a large increase in sales to help the year finish on a high note. Sales price trends remained fairly stable year-to-date, but choices for buyers were limited as inventory fell to the lowest level on record. Like much of the region, the decline in sales and rise in supply made the market pace unusually fast. With the economy expected to improve, we anticipate an active housing market in the first half of 2014.  See the full report at Elliman.com

1/9/14:  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Westchester and Putnam Sales:  The housing market in Westchester had many of the same trends as those we observed in the city: rising sales, falling supply and rising prices. Median sales price and the total number of sales reached an eight-year high. Falling inventory kept pressure on prices throughout 2013 that resulted in modest year-to-date increases in housing prices. With an unusually high number of signed contracts in the fourth quarter, we expect this momentum to continue into the new year. Putnam’s housing market experienced falling inventory but not to the same extent as Westchester did. The number of sales jumped above last year¹s totals, but housing prices were generally stable. The decline in supply and the increase in sales caused the market to move faster than last year, but not at the same rapid pace as Westchester. We anticipate similar conditions over the next several quarters.  See the full report at Elliman.com

Aug
05

In the News August 4, 2013

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08/01/13  A Beach Comes to Lower Manhattan:  City Council Speaker and mayoral candidate Christine Quinn, along with Manhattan Borough President and city comptroller candidate Scott Stringer, introduced a plan Thursday to turn an unused parcel of land on the East River in Lower Manhattan into a beach, complete with sand, seating and waterfront views.   See the full article at GlobeSt.com 

08/01/13  Central Park Conservancy Releases Ladybugs to Fight Off Garden Pests:  The Central Park Conservancy recently released approximately 140,000 Asian Ladybugs into some of its gardens to help fight some unwanted pests. – See more at NY 1

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Jun
20

In the News June 23, 2013

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06/06/13  A second win for Bloomberg’s taxi legacy:  Hours after his plan to expand livery cab service to the outer boroughs was reinstated by the state’s highest court, the mayor’s “e-hail” app pilot project was also given the go-ahead, giving his administration a double-win after a string of legal defeats.  See the full article at Crain’s NY.

06/06/13  Supermodel Adriana Lima Lists Central Park Condo for $5.5 Million: Rumor has it Adriana Lima has listed her 2 Bedroom 2.5 Bathroom,view 146 W 57 2200 SF condo in Midtown for $5.5 Million.  The building boasts of a 24 hour white-gloved doorman and concierge, with an exclusive restaurant and dining terrace and fitness center.    The apartment has views of central park, lots of windows, customized walk in closets and a media room to die for.   See the Full article at Yahoo! News

06/12/13:  Dolly Lenz leaving Elliman: Sources:  Dolly Lenz, Douglas Elliman’s perpetually top-ranked luxury sales broker is leaving the firm after a 14-year tenure.  See The Real Deal for more details

06/13/13 Milestone contract for Second Avenue Subway:  A $208 million job given by the MTA to two large contractors will complete the first phase of the massive, long awaited project on Manhattan’s Upper East Side.  See the full article at Crain’s New York Business

06/13/13 UES Marine Transfer Station Needs $2.4M in Flood-Proofing:  The city needs to spend almost $2.4 Million to protect the East 91st Street Marine Transfer Station from flooding after an inspection showed a storm the size of Sandy could leave it deluged.  See the full article at DNA Info.com

May
12

In the News May 12, 2013

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5/7/13  Fannie, Freddie will only purchase ‘qualified mortgages’ starting next year:  Starting next January, Fannie Mae and Freddie Mac’s federal regulator will no longer allow them to purchase interest-only loans, loans with 40-year terms, or those with points and fees exceeding thresholds for “qualified mortgages” established by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Adoption of the new limitations on Jan. 10, 2014 “is in keeping with (the Federal Housing Finance Agency’s) goal of gradually contracting (Fannie and Freddie’s) market footprint and protecting borrowers and taxpayers,” FHFA said. SourceFHFA

5/8/13:  Hundreds Pack Upper East Side Church to Protest Marine Transfer Station:  Hundreds of residents blasted the planned East 91st Marine Transfer Station Tuesday, saying the project would leave poor and elderly residents vulnerable to high levels of pollution and vermin.  See full article at DNAInfo.com

 

Apr
16

In the News April 12, 2013

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4/2/13  The Year of the Frustrated Buyer Awaits Manhattan Real Estate Market:  Without a lot of apartments for sale right now, signs are pointing to a seller’s market in Manhattan, some real estate experts said. See the full article at DNAinfo.com   

4/5/13  City to put out more RFPs for micro-apartments:  The city will be putting out more requests for proposals for micro-apartment sites, the New York Observer reported. “We are considering RFPs for two or three micro-unit developments later this year.  See the full article at The Real Deal 

4/11/13  Central park Playground to Get $1.2M Makeover:  Starting in July, the Central Park Conservancy  will begin a project to fully remake a playground in the park, located at the East 79th and Fifth Avenue “to ensure accessibility for all park visitors”.  See the full article at DNAinfo.com   

4/15/13  Proposed UES medical complex wooing community with park renovation:  A proposed million-square-foot medical and college complex on the Upper East Side is gaining community support with a promise to build new park space in the neighborhood. People are increasingly rallying behind the project due to its pledge to overhaul Andrew Haswell Green Park between 59th Street and 63rd Street on the river   See the full article at The Real Deal

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Mar
29

In the News – March 28, 2013

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3/21/13 Jon Bon Jovi Selling NYC Penthouse for $42 Million:  Rocker Jon Bon Jovi has put his Manhattan penthouse on the market, and a peek inside shows 7,452 square feet of pure luxury. And it better be luxurious and then some, considering he just put the place on the market for $42 million, a mind-blowing price even for New York real estate.  See the full article with pictures OMG.com 

3/21/13:  Plan for Trash Station Debated at Upper East Side Democratic Mayoral Forum:  All politics were local last night at a Democratic mayoral forum on the Upper East Side, where a proposed trash facility brought out strong feelings from the candidates and crowd.  See the full report at  NY1.   

3/28/13  Verizon trounces Time Warner in Poll:  In the endless war between Verizon FiOS and Time Warner Cable, there is finally a clear winner—at least, according to the 84,000 Consumer Reports readers who responded to the magazine’s annual survey of their television, Internet and home phone service providers.  See the full article at Crain’s New York Business 

3/28/13  Brooke Shields nabs East End home listed for 4.3M:  Actress Brooke Shields and her husband, Chris Henchy, are buying a six-bedroom beach “cottage” on  Lewis Street in Southampton that had an asking price of $4.3 million, the New York Post reported.  See the full article at The  Real Deal.

Mar
18

In the News – March 18, 2013

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03/04/13:  Spurned Apartment Buyers Still Long for ‘the One’:  Buying a home is an obstacle course strung with emotional tripwires, especially when New York City prices are involved. So if a buyer is ready to commit to an apartment but is ultimately rebuffed, it can be difficult to quickly put the old flame firmly in the past. Months or even years later, some rejected buyers shyly acknowledge that their curiosity still sometimes gets the best of them.   See the full article in the New York Times  

03/08/13  New Middle School to Be Opened in Unused P.S. 158 Space, Officials Say:  After several years of lobbying the Department of Education and elected officials to relieve overcrowding, Upper East Siders are getting a middle school in P.S. 158’s vacant space, officials announced Friday.  See the full story at DNAinfo.com

03/18/13 Jessica Lappin Advocating for Equality on International Women’s Day:  New York State is moving forward on empowering women.  Achieving pay equity, protecting reproductive rights and ending gender discrimination are some of the goals outlined in Governor Cuomo’s Women’s Equlity Agenda.  Read more about it here

3/18/13  Rise in Complaints About Rats Prompts Call for New Eradication Program:  New York City officials are calling for a publicly financed program to bait, kill and remove rats in the wake of reports that Hurricane Sandy sent droves of the rodents scurrying inland, with many of them taking up residence in new neighborhoods.  Read the full story in the New York Times

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Mar
10

In the News March 10, 2013

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02/15/13 MTA Awards $258M Contract for Second Avenue Subway station at E. 72nd St:  Progress continues on the Second Avenue subway project, as the Metropolitan Transit Authority awarded a major construction contract for the future East 72nd Street station, officials announced Friday.  See the full article at DNAInfo.com  

03/08/13 Unique UES clapboard mansion hits market for $10.5M with a treehouse:    Lots of mansions on the Upper East Side are loaded with frills. But one that just hit the market for $10.5 million has something a bit unusual in its backyard — at least for a home in Manhattan: a 14-foot-high treehouse.  See the full article at TheRealDeal.com

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Feb
17

In the News February 17, 2013

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 1/14/13  The Pricing Puzzle:  How much is that Central Park view really worth?  In a year full of eye-popping luxury listings — in the second half of 2012, four homes hit the market asking at least $90 million — pricing a New York City apartment can seem increasingly subjective.    See the full article at the Real  Deal .

2/4/13  Despite real estate ties, Ed Koch was lifetime renter:  Despite having been a force in real estate, the late former Mayor Ed Koch never personally owned a piece of New York City.    See the full article at TheRealDeal.com

2/5/13 Douglas Elliman releases Manhattan Townhouse Decade Report:  The Manhattan townhouse market had the most sales since the market peaked in 2007 and activity has been rising for the past three years. Prices remained stable over past year, as they have been during the past four. The market has tightened over the past year as listing inventory fell and marketing times are now faster on average than during the boom. The townhouse market has continued to perform well and we look forward to another active year in 2013.  See the full report at Elliman.com   

2/5/13 UES residents deterred from use of privately owned public spaces, new study finds:  A majority of the Upper East Side’s privately owned public spaces, or POPS, discourage public use, new research from Hunter College’s urban planning institute reported by DNAinfo shows.  See the full article at TheRealDeal.com 

2/6/13  NYC Remains bargain among top world cities:  New York may feel like a squeeze for all but the city’s top earners, but compared to other major world metropolises, the five boroughs are still a relative bargain.  Read the full article at TheRealDeal.com

2/13/13 New Housing Legislation levels the playing field:  Last month the New York State Legislature passed an important piece of housing legislation called the Omnibus Housing Bill.  Signed into law by Governor Andrew Cuomo on February 5, the bill renews the coop/condo abatement and J-51 programs as well as amends certain provisions for the 421a program.  See the full article from REBNY on Facebook.com.