Mv q4 09

4 t h q u a rt e r 2 0 0 9

C i t i R e l o C a t i o n

• Over 900,000 visits per month • Top 1% ranking among NYC-based real estate firms

• Feeds to Google, NY Times • Top “real estate” ranking with the #1 search engine

• Extensive resourses for buyers, sellers, and renters

Office LocationsCorporate Headquarters 250 Park Avenue S, 11th floor 212.685.7777

Upper East Side 400 East 84th Street 212.794.1133

Upper East Side 1456 First Avenue 212.774.3800

Upper West Side 465 Columbus Avenue 212.957.4100

Upper West Side 222 West 72nd Street 212.712.2722

Chelsea 155 Seventh Avenue 212.937.9677

Gramercy/Flatiron 32 East 22nd Street 212.260.9720

Gramercy/Flatiron 27 East 22nd Street 212.685.7300

Sales/Relocation Headquarters 250 Park Avenue S, 12th floor 212.685.7777

Union Square 250 Park Avenue S, 5th floor 212.683.8300

West Village 114 Perry Street 212.400.2500

East Village 37 Third Avenue 212.937.8500

Greenwich Village 214 Sullivan Street 212.253.2525

Relocation Headquarters | 250 Park Avenue South, 12th floor

Gary Malin | 212.689.4900 x249 | [email protected] Susan Rader | 212.689.4900 x250 | [email protected]

We find more New Yorkers homes than any other firmC i T i - H a b i TaT s . C O m

PUBLISHER and EDITOR-IN-CHIEF

Christopher Dente, Director of PR [email protected]

WRITER

Christopher Dente [email protected]

GRAPHIC DESIGN

Megan Havens

[email protected]

CITI HABITATS’ EXECUTIVE TEAM

Gary Malin, President

Gordon Golub, Sr. Managing Director

Greg Young, Director of Sales

Citi Habitats is owned and operated by NRT LLC.

In this Issue

4 Notes from the President

5 In the News

8 Featured Agent: David KongZO

9 Rental Market Report, 4th Quarter 2009

16 Sales Market Report, 4th Quarter 2009: Resale

17 Sales Market Report, 4th Quarter 2009: New Developments & Luxury Market

18 Hot Links: Resources & Information

Notes from the President

Welcome to our 4th Quarter 2009 issue of MARKETView, Citi Habitats’ e-magazine dedicated to assisting companies and individuals dealing with the complexities involved in corporate relocation.

In this issue, we are pleased to present our 4th Quarter /

Year-End 2009 Residential Rental Market Report. This reports profiles data based on Citi Habitats’ closed rental transactions and data in Manhattan for the periods October–December and January-December 2009.

Results for the 4th Quarter 2009 vs. 3rd Quarter 2009 were atypical of past market trends. Because the 3rd Quarter figures include peak season rental tallies, adjustments in rental prices and vacancy rates in the 4th Quarter are usually notable. However, during this 4th Quarter we saw only nominal decreases in both rental pricing and a marginal increase in the vacancy rate.

As we expected, the 2009 rental market underwent price corrections. Prices on average are approximately 7% lower than in 2008 and this adjustment does not include landlord incentives such as free rent which, when factored in, would make price reductions greater. Vacancy rates are marginally higher in 2009 (but continue to remain below 2%) from 2008 totals. However, over 3,700 new rental units came to market during 2009 (south of 96th Street) and we saw incredible absorption with respect to this new product.

Also in this issue, we are pleased to present our 4th Quarter 2009 Residential Sales Market Report. This reports profiles data based on sales transactions and data in Manhattan for the period October-December 2009 and includes the Manhattan resale, new developments and luxury market property categories. As the premier residential brokerage firm in Manhattan, we are able to give you first-hand market data on the factors that impact your bottom line. These reports are designed to keep you and your company current on the multitude of factors affecting the Manhattan real estate market and the potential impact on your relocation decisions.

In addition to current Manhattan rental market data, MARKETView contains links to topical real estate news features, as well as a multitude of other relocation-related topics selected to keep you best informed.

Gary Malin, President

Citi Relocation, an affiliate company of Citi

Habitats, provides corporations and organiza-

tions with a variety of innovative, cost effective

relocation solutions, including area orientation,

home search and rental assistance. Relocating

can be an extremely stressful experience. The Citi

Relocation staff takes great pride in treating

clients with special care. A philosophy of person-

alized assistance, as well as a vast knowledge and

expertise in the services provided, ensure that Citi

Relocation will effectively address your unique re-

location needs. The goal is to facilitate a seamless

relocation process for every client, every time.

Susan Rader, Relo Coordinator [email protected] 212.685.7777

5

In the News

Manhattan rental deals up in 4Q: reports Manhattan rental transactions surged in the fourth quarter of 2009, according to market reports released by two large city brokerages today. The Real Deal... read

Manhattan Apartment Rents Drop 9.4% as City Job Losses Mount Manhattan apartment rents dropped 9.4 percent in the fourth quarter of 2009 from a year earlier as Wall Street jobs vanished in the recession. Bloomberg... read

Manhattan apartment rents and vacancies off in ‘09Vacancy rates for apartments in New York City’s borough of Manhattan, the largest U.S. apartment market, declined in 2009, as lower rents and better landlord incentives attracted tenants, according to a quarterly brokerage report. Reuters... read

Average Manhattan rents dropped 4% last year Manhattan apartment rents ended the year down 4% from where they started 2009, but that decline helped to strongly boost the number of new leases signed, according to two market reports released Thursday. Crain’s New York Business... read

Buying? You?ARTHUR FREEDMAN has lived in a rent-stabilized studio in the East Village for 29 years. But as he watched housing prices fall over the last year and as a leak in his bathroom went unrepaired month after month, he decided a few months ago that it was time to become a homeowner. New York Times... read

Citi Habitats kicks off leasing at Forest City Ratner tower Citi Habitats has kicked off leasing at Forest City Ratner’s new 36-story rental building at 80 DeKalb Avenue in Fort Greene. Brokers Weekly... read

Audio Clip Joe Connolly- Wall Street Journal cites Citi Habitats 4Q Rental Report. WCBS Radio. Listen... read

RETHINK THE RENTAL

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FOR DETAILS PLEASE CONTACT

Russell Miller [email protected]

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Alcove Studios from $1,9151 Bedrooms from $2,340 2 Bedrooms from $3,865

Immediate Occupancy

A high-rise rental o�ering the very best in amenities and conveniences. Plus, it’s LEED certified, making eco-living as easy as walking in your door. Distance-wise, it’s one subway stop from Manhattan, but attitude-wise, it’s worlds away.

For Details Please ContactItzy Garay212.400.2500 | [email protected]

Jay Heydt212.683.8300 | [email protected]

Eric Hamm212.957.4100 | [email protected]

8

DAVID KONG, LICENSED REAL ESTATE SALESPERSON

t 212.685.7777M 917.755.9380

[email protected]

David Kong is focused on helping clients make informed decisions on buying, sell-

ing, renting and listing. He has an entrepreneurial spirit and knows that all success

begins with relationships built on trust. David goes above and beyond what all other real estate agents

do to ensure complete satisfaction.

David previously owned and operated an event coordinating company that specialized in University func-

tions. He also successfully ran a retail business, growing the company tenfold within five years. Before

coming to Citi Habitats, David was CEO of a company that manufactured golf accessories for women.

David was born in South Korea, but was raised in Wellesley. He graduated from Boston University and

is fluent in both English and Korean. David loves to give back to the community and volunteers his time

as a fifth grade Sunday School Teacher and a coach for his church’s girl’s volleyball team. David loves

cooking, fishing, volleyball, the outdoors, skydiving, travel, music…basically anything that keeps the body,

mind and soul active and growing.

When David bought his first home, the process did not go well. “I felt as though I was taken advantage

of by both the real estate agent and the mortgage broker. I want to make sure that this never happens to

anyone else. I will make it my mission to take you through the process step by step so that you get exactly

what you want. I look forward to finding you the home you want.”

Featured Agent

RESIDENTIAL RENTAL MARKET REPORTFourth Quarter 2009 / Year-End Review

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Citi Habitats Residential Rental Market Report4th Quarter / Year-End Review 2009 Our results for December 2009 continued the pattern seen during the prior eight months of 2009 of minor price adjustments providing us with further evidence that the Manhattan rental market had found its footing in terms of pricing. Additionally, vacancy rates which historically increase during this period actually decreased slightly over November’s rate, indicating positive absorption in the market.

Results for the 4th Quarter 2009 vs. 3rd Quarter 2009 also were atypical of past market trends. Because the 3rd Quarter figures include peak season rental tallies, adjustments in rental prices and vacancy rates in the 4th Quarter are usually notable. However, during this 4th Quarter we saw only nominal decreases in both rental pricing and a marginal increase in the vacancy rate.

As we expected, the 2009 rental market underwent price corrections. Prices on average are approximately 7% lower than in 2008 and this adjustment does not include landlord incentives such as free rent which, when factored in, would make price reductions greater. Vacancy rates are marginally higher in 2009 (but continue to remain below 2%) from 2008 totals. However, over 3,700 new rental units came to market during 2009 (south of 96th Street) and we saw incredible absorption with respect to this new product. During this period, CHMG, Citi Habitats’ development marketing group, rented Silver Towers at a very brisk pace, renting over 40% of market-rate units during its launch phase as well as the lease-up or completion of Dwell95, The Westbourne, Greystone, and The Hub.

In 2009 Citi Habitats reached the incredible milestone of renting over 12,900 apartments in one year, an increase of 23% as compared with the 2008 total of more than 10,500 rental transactions. Many factors came into play during the year that contributed to achieving this incredible feat. 2009 was a great year to be a renter; because of the combination of lower prices and landlord incentives, amazing rental opportunities existed in the marketplace. Some, previously priced out of the Manhattan market and living in an outer borough were now able to afford an apartment in Manhattan. Many upgraded and moved to a larger space or a neighborhood closer to their job for less or equal rent. In any event, these indicators are a clear testament to the health and vitality of the rental market and the long-term prospects of our great City.

Please note the following with respect to this report:

1. The statistics in this report were compiled using solely Citi Habitats closed transactions during the stated period(s).2. Average rents cited in this report are, for the majority, gross rents, not net effective rents, and do not include

landlord incentives, unless the face rent reported on the lease was the net-effective amount. Factoring in rent concessions, average rents may be between 5% to 7% lower. However, not every rental transaction contains a landlord concession.

We hope you will find this study informative and we welcome any questions you may have regarding it. Sincerely,

Gary Malin, President We find more New Yorkers homes than any other brokerage firm.

0

1000

2000

3000

4000

5000

1800+

2600+

4Q 2008 4Q 2009

total 2009 Rental tRansactions

Overall transactional volume for Citi Habitats for the 4Q 2009 was more than 2,600 transactions, representing an increase of more than 30% in the total number of transactions from the 4Q 2008 total of more than 1,800 transactions.

total 4Q Rental tRansactions

Overall transactional volume for Citi Habitats for 2009 was more than 12,900 transactions, representing an increase of 23% in the total number of transactions from the 2008 total of more than 10,500 transactions.

0

5,000

7,500

10,000

12,500

15,000

10,500+

2008 2009

12,900+

RENTAL MARKET ANALYSIS: 4th Quarter 2009

AVERAGE RENTS: Q4/09 Market-wide for Manhattan, the average 4Q 2009 rental price for a studio was $1,733, representing a decrease of 1.5% from 3Q 2009; a one bedroom, $2,343 representing a decrease of 3.3% from 3Q 2009; a two bedroom, $3,294 representing a decrease of 2.6% from 3Q 2009; and three bedroom, $4,591 representing a decrease of 3.3% from 3Q 2009.

VACANCY RATES: Q4/09 The overall vacancy rate for Manhattan for 4Q 2009 was 1.79% representing a 0.08% increase in the vacancy rate from the 3Q 2009 rate of 1.71%.

A comparison of vacancy rates, by neighborhood, reveals that the SoHo/Tribeca area had the least amount of available apartments at 1.05%, while the Upper East Side, at 2.24%, ranked highest.

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aVeRaGe Rent sUMMaRY: Q4/09

location stUDio 1BR 2BR 3BR

Chelsea 2048 2908 4381 5239

East Village 1804 2281 3224 4100

Gramercy/Flatiron 2035 2852 3912 5047

Harlem 1112 1438 1680 2215

Lower East Side 1698 2033 2782 3490

Midtown East 1818 2370 3520 5026

Midtown West 1926 2494 3428 4422

Morningside Heights 1321 1851 2262 3012

Murray Hill 1731 2398 3157 4213

VacancY sUMMaRY: Q4/09


neiGHBoRHooD VacancY Rate

BPC / Financial Dist 2.05%

Chelsea 1.33%

East Village 1.72%

Gramercy 2.09%

Midtown East 2.18%

Midtown West 1.53%

Murray Hill 2.05%

SoHo/TriBeCa 1.05%


oVeRall BlenDeD aVeRaGes: Q4/09

New Development w/ DM* 2434 3573 5972 8396

Doorman 2144 3054 4402 5659

Elevator*** 1758 2452 3723 5412

Walkup** 1602 2041 2686 3910

BlDG classiFication stUDio 1BR 2BR 3BR

0

1

2

2.5

1.5

.5

1.881.962.36

ManHattan Rental VacancY Rates: Q4/09

Q4/08 Q1/09 Q2/09 Q3/09 Q4/09

* New Developments include all rental and condo buildings built after 2003. **Walkup averages include brownstone and townhouse rentals. ***Elevator averages in the downtown neighborhoods include a significant number of loft rentals compared to other neighborhoods.

SoHo/TriBeCa 2130 3145 5042 6898

Upper East Side 2.24%

Upper West Side 2.06%

West Village 1.34%

overall Vacancy: Q4/09 1.79%


Difference 0.08%

Wall Street/BPC 2054 2728 3781 4943

Upper East Side 1569 2087 3043 5131

Upper West Side 1688 2351 3484 5401

Washington Heights 1073 1360 1800 2049

West Village 1993 2845 3916 5383

average: Q4/09 1733 2343 3294 4438

average: Q3/09 1760 2423 3381 4591

% change -1.5% -3.3% -2.6% -3.3%

average: Q4/08 1841 2527 3551 4712

% change: Q4-08/09 -5.9% -7.3% -7.2% -5.8%


Difference: Q4 - 08/09 (0.17%)

1.71

1.76

RENTAL MARKET ANALYSIS: 2009 vs 2008

AVERAGE RENTS: 2009 Market-wide for Manhattan, the average 2009 rental price for a studio was $1,757, representing a decrease of 6.7% from 2008; a one bedroom, $2,406 representing a decrease of 7.7% from 2008; a two bedroom, $3,411 represent-ing a decrease of 7.8% from 2008; and three bedroom, $4,560 representing a decrease of 6.9% from 2008.

VACANCY RATES: 2009 The overall vacancy rate for Manhattan for 2009 was 1.93% representing a 0.51% increase in the vacancy rate from the 2008 rate of 1.42%.

A comparison of vacancy rates, by neighborhood, reveals that the SoHo/Tribeca area had the least amount of available apartments at 1.35%, while the Upper East Side, at 2.38%, ranked highest.

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aVeRaGe Rent sUMMaRY: 2009 vs 2008


Chelsea 2058 2959 4369 5463

East Village 1824 2372 3286 4281


Harlem 1170 1504 1855 2192

Lower East Side 1719 2162 2951 3750

Midtown East 1805 2399 3819 5210

Midtown West 1866 2457 3574 4664


Murray Hill 1835 2408 3255 4364

VacancY sUMMaRY: 2009 vs 2008



Chelsea 1.58%

East Village 2.10%

Gramercy 1.99%

Midtown East 2.36%

Midtown West 1.76%

Murray Hill 2.09%

SoHo/TriBeCa 1.35%


0.00

1.50

2.50

2.372.242.46

ManHattan Rental VacancY Rates: 2009

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

SoHo/TriBeCa 2181 3230 5086 7097




West Village 1.64%

overall Vacancy: 2009 1.93%

overall Vacancy: 2008 1.42%

Difference: 2009/2008 0.51%

Wall Street/BPC 2069 2819 4001 5081

Upper East Side 1608 2167 3070 5164

Upper West Side 1760 2366 3497 5475


West Village 2037 2945 4009 5431

average: 2009 1757 2406 3411 4560

average: 2008 1883 2608 3700 4898

% change -6.7% -7.7% -7.8% -6.9%

overall % change -7.3%

2.28

1.72 1.621.65 1.671.83 1.86 1.87 1.84

RENTAL MARKET ANALYSIS: December 2009

AVERAGE RENTS: 12/09 Market-wide for Manhattan, the average December 2009 rental price for a studio was $1,740, representing an increase of 1% from November 2009; a one bedroom, $2,299 representing a decrease of 2% from November 2009; a two bedroom, $3,278 representing a decrease of 1% from November 2009; and three bedroom, $4,375 representing a decrease of 2% from November 2009.

VACANCY RATES: 12/09 The overall vacancy rate for Manhattan for December 2009 was 1.84% representing a 0.03% decrease in the va-cancy rate from the November 2009 rate of 1.87%.

A comparison of vacancy rates, by neighborhood, reveals that the Chelsea area had the least amount of available apartments at 1.20%, while Mid-Town East, at 2.24%, ranked highest.

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* New Developments include all rental and condo buildings built after 2003. **Walkup averages include brownstone and townhouse rentals. ***Elevator averages in the downtown neighborhoods include a significant number of loft rentals compared to other neighborhoods.

ManHattan Rental VacancY Rates: 12/09

aVeRaGe Rent sUMMaRY: 12/09


Chelsea 2100 2909 4384 5150

East Village 1841 2159 3289 4050


Harlem 1120 1455 1648 2132

Lower East Side 1731 2031 2725 3500

Midtown East 1826 2413 3491 5028

Midtown West 1904 2544 3351 4338


Wall Street/BPC 2053 2637 3778 4877

Murray Hill 1701 2234 3130 3710

SoHo/TriBeCa 2190 3048 5130 6900

Upper East Side 1504 2056 3026 5150

Upper West Side 1605 2276 3466 5400


West Village 2065 2827 3857 5425

average 1740 2299 3278 4375


VacancY sUMMaRY: 12/09



Chelsea 1.20%

East Village 1.90%

Gramercy 1.86%

Midtown East 2.24%

Midtown West 1.53%

Murray Hill 2.03%

SoHo / TriBeCa 1.23%



West Village 1.41%

overall Vacancy 1.84%


oVeRall BlenDeD aVeRaGes: 12/09


Doorman 2096 2978 4322 5695

Elevator*** 1708 2419 3690 5279

Walkup** 1539 1988 2601 3751


Dec Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec 09

0%

1.25%

2.50%

2.24 2.24 2.46 2.372.28

1.72 1.65 1.671.86

1.621.83 1.87 1.84

RENTAL MARKET ANALYSIS: November 2009

AVERAGE RENTS: 11/09 Market-wide for Manhattan, the average November 2009 rental price for a studio was $1,728, representing no change from October 2009; a one bedroom, $2,345 representing a decrease of 2% from October 2009; a two bedroom, $3,298 representing no change from October 2009; and three bedroom, $4,445 representing a decrease of 1% from October 2009.

VACANCY RATES: 11/09 The overall vacancy rate for Manhattan for November 2009 was 1.87% representing no change in the vacancy rate from the October 2009 rate of 1.86%.

A comparison of vacancy rates, by neighborhood, reveals that the SoHo/Tribeca area had the least amount of available apartments at .98%, while the BPC/Financial District, at 2.22%, ranked highest.

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* New Developments include all rental and condo buildings built after 2003. ** Walkup averages include brownstone and townhouse rentals. *** Elevator averages in the downtown neighborhoods include a significant number of loft rentals compared to other neighborhoods.




Chelsea 2006 2898 4434 5215

East Village 1754 2292 3308 4099


Harlem 1125 1402 1653 2156

Lower East Side 1750 2009 2799 3466

Midtown East 1816 2376 3555 5028

Midtown West 1920 2486 3402 4428


Wall Street/BPC 2089 2784 3745 4925

Murray Hill 1750 2385 3164 4410

SoHo/TriBeCa 2134 3199 4999 6889

Upper East Side 1577 2081 2998 5175

Upper West Side 1674 2378 3502 5360


West Village 1936 2863 3913 5325

average 1728 2345 3298 4445





Chelsea 1.50%

East Village 1.59%

Gramercy 2.20%

Midtown East 2.18%

Midtown West 1.44%

Murray Hill 2.00%

SoHo / TriBeCa .98%



West Village 1.38%





Doorman 2137 3042 4391 5575

Elevator** 1766 2472 3713 5386

Walkup*** 1592 1985 2621 3953


Nov Dec Jan Feb Mar Apr May June July Aug Sep Oct nov 09

0%

1.25%

2.50%

2.042.24 2.24 2.46 2.37

2.28

1.72 1.65 1.671.86

1.621.83 1.87

RENTAL MARKET ANALYSIS: October 2009

PEAK SEASON AVERAGE RENTS: 10/09 Market-wide for Manhattan, the average October 2009 rental price for a studio was $1,731, representing a decrease of 1% from September 2009; a one bedroom, $2,384 representing a decrease of 1% from September 2009; a two bedroom, $3,307 representing a decrease of 1% from September 2009; and three bedroom, $4,494 representing a decrease of 1% from September 2009.

PEAK SEASON VACANCY RATES: 10/09 The overall vacancy rate for Manhattan for October 2009 was 1.86% representing a slight increase in the vacancy rate from the September 2009 rate of 1.83%.

A comparison of vacancy rates, by neighborhood, reveals that the SoHo/Tribeca area had the least amount of available apartments at .95%, while the Upper East Side, at 2.41%, ranked highest.

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* New Developments include all rental and condo buildings built after 2003. ** Walkup averages include brownstone and townhouse rentals. *** Elevator averages in the downtown neighborhoods include a significant number of loft rentals compared to other neighborhoods.




Chelsea 2039 2916 4325 5353

East Village 1817 2393 3075 4150


Harlem 1090 1458 1739 2358

Lower East Side 1613 2058 2821 3505

Midtown East 1811 2322 3515 5023

Midtown West 1954 2453 3530 4500


Wall Street/BPC 2019 2762 3820 5026

Murray Hill 1742 2576 3176 4519

SoHo/TriBeCa 2067 3187 4998 6905

Upper East Side 1625 2123 3104 5068

Upper West Side 1786 2398 3485 5444


West Village 1977 2846 3977 5400

average 1731 2384 3307 4494





Chelsea 1.30%

East Village 1.66%

Gramercy 2.20%

Midtown East 2.12%

Midtown West 1.61%

Murray Hill 2.12%

SoHo / TriBeCa .95%



West Village 1.22%





Doorman 2199 3141 4493 5708

Elevator** 1801 2465 3765 5571

Walkup*** 1675 2149 2836 4027


Oct Nov Dec Jan Feb Mar Apr May June July Aug Sep oct 09

0%

1.25%

2.50%

1.71

2.042.24 2.24 2.46 2.37

2.28

1.72 1.65 1.67

1.86

1.621.83

Condos

Median Price

avg Price per sq ft

Median Price stU 1bR 2bR 3+bR

794K 1,052 448K 770K 1.115M 2.598M

Midtown east Resale (E 34th to E 57th / 5th Ave to FDR Drive)

Co-ops

Median Price

avg Price per sq ft


523K 719 326K 520K 987K 3.725M

Condos

Median Price

avg Price per sq ft


975K 1,094 355K 698K 1.000M 2.536M

Condos

Median Price

avg Price per sq ft


950K 1,125 483K 720K 1.200M 2.565M

Co-ops

Median Price

avg Price per sq ft


622K 811 360K 532K 961K 1.895M

Owned & operated by NRT LLC.

4 th QUaR t e R 2009 sa l e s MaRk e t R e PoR tManhattan Resale

east side Resale (E 57th to E 96th / 5th Ave to FDR Drive)

Co-ops

Median Price

avg Price per sq ft


740K 806 324K 510K 1.100M 2.395M

Condos

Median Price

avg Price per sq ft


1.248M 1,054 465K 805K 1.448M 2.400M

downtown Resale (South of 34th / East to West) Co-ops

Median Price

avg Price per sq ft


564K 849 395K 573K 1.090M 1.513M

Condos

Median Price

avg Price per sq ft


720K 976 420K 655K 975K 2.575M

Midtown west Resale (W 34th to W 57th / 5th Ave to West Side Highway)

Co-ops

Median Price

avg Price per sq ft


500K 758 N/A 470K N/A N/A

Condos

Median Price

avg Price per sq ft


970K 1,394 551K 713K 1.250M 3.810M

west side Resale (W 57th to W 110th / Central Park West to West Side Drive)

Co-ops

Median Price

avg Price per sq ft


705K 849 338K 540K 940K 1.806M

Condos

Median Price

avg Price per sq ft


487K 476 N/A 305K 499K 812K

UPtown Resale (North of E 96th & W 110th)

Co-ops

Median Price

avg Price per sq ft


450K 515 N/A 399K 470K 630K

MaRketwideAll Sales

avgPrice

Median Price

avg Price per sq ft

Median PricestU 1bR 2bR 3+bR

1.335M 795K 1,006 390K 615K 1.125M 2.450M

All Resales

avgPrice

Median Price

avg Price per sq ft


1.161M 725K 936 375K 600K 1.050M 2.225M

4 th QUaR t e R 2009 sa l e s MaRk e t R e PoR tManhattan new develoPMents and lUxURy MaRket

new develoPMents MaRketwide

avgPrice

Median Price

avg Price per sq ft


1.966M 1.191M 1,213 638K 725K 1.695M 3.375M

east side (E 57th to E 96th / 5th Ave to FDR Drive)

New Developments

Median Price

avg Price per sq ft


2.650M 1,508 N/A 690K 1.788M 4.260M

Owned & operated by NRT LLC.

Midtown east (E 34th to E 57th / 5th Ave to FDR Drive)

New Developments

Median Price

avg Price per sq ft


1.068M 1,183 N/A 1.060M 865K N/A

downtown (South of 34th / East to West)

New Developments

Median Price

avg Price per sq ft


999K 1,188 715K 700K 1.750M 3.707M

Midtown west (W 34th to W 57th / 5th Ave to West Side Highway)

New Developments

Median Price

avg Price per sq ft


855K 1,141 445K 829K 1.250M N/A

west side (W 57th to W 110th / Central Park West to West Side Drive)

New Developments

Median Price

avg Price per sq ft


2.175M 1,400 N/A 935K 2.490M 3.113M

UPtown (North of E 96th & W 110th)

New Developments

Median Price

avg Price per sq ft


465K 559 N/A 330K 535K 1.050M

lUxURy MaRket All Resale

Median Price

avg Price per sf

average sale Price

3.900M 1,985 4.967M

New Developments

Median Price

avg Price per sf

average sale Price

5.950M 2,272 6.774M

Co-ops

Median Price

avg Price per sf

average sale Price

2.600M 1,428 3.656M

Condos

Median Price

avg Price per sf

average sale Price

3.185M 1,901 4.556M

18

Hot Links: Resources & Information

The Black & White Report 11

A comprehensive analysis of the Manhattan real estate market

for 2008.

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GreenHouseEcoCleaning.com

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NYCQualityLocksmith.com

Residential Rental Market Report 4th Quarter Report

2009

Residential Sales

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2009

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Mv q4 09

Real Estate

Transcript of Mv q4 09