2001 Mar
2001 Mar Vol. 21, No. 3
Focus on...Market Review &Forecast
Peculiar Allure
"We’ve lived in this neighborhood for 17 years," says Bob Berkow, a Clinton resident and co-op owner at the 48-unit Piano Factory at 454 West 46th Street. The Piano Factory was originally built as Wessell, Nickel & Gross Company in 1888, a manufacturing site for the interior components of pianos. Construction was in the style of a New England mill building with an inner courtyard accessed through a Romanesque revival arch. Converted to co-ops in 1980, the courtyard is now used for barbeques and parties by residents and children play outside during the warm months. "It’s the kind of place," says Berkow, "where I can attach a hose to our building and wash the car in shorts or jeans without feeling out of place." Read More
Asking for Trouble?
In real estate, they say the three most important things to consider are location, location, location. What about when you move from one piece of real estate to another? Moving out of your home and into a new one can be traumatic, but, says Oleh Turczak, director of workplace management for IA, a New York-based interior design firm, whether it’s the first or the 40th time, the key to a relatively pain-free move is organization, organization, organization. "If you don’t do your own research up front and plan your own move, you’re asking for trouble," he says. "You have to put the project manager’s hat on." Read More
Moving in Together
You’re unmarried, but you want to buy a co-op or condo together. What do you need to know? Will it be difficult winning the board over? How do you plan for possibilities you’d rather not consider, like breakup or death? The decisions you make today may have you thanking yourself–or wondering what were you thinking–somewhere down the line, whether or not you stay together "till death do you part." Read More
Start Your Engines!
In Manhattan’s real estate market, consumers are hungry for efficient ways to find that elusive perfect apartment. Today, more than ever before, choices abound from the Web sites of individual brokerage firms to sites which feature compilations of listings. The Internet has profoundly affected the way people buy apartments. Various residential Web sites seeking to meet the high demand, display a variety of visuals to help pre-sell properties. And it’s working. Brokers report that buyers are viewing less and less apartments as the months go by. They say this is because buyers are becoming more knowledgeable; by previewing available listings on the Web, buyers are better prepared and know what they want. Just what is the future of online brokerage? Read More
Residential Forecast
No market can continue to sustain the astonishingly high prices that New York cooperatives and condominiums brought last year. The moderation of prices we are experiencing in 2001 represents a return to a more rational marketplace in which demand still chases a limited supply of product. Read More
Cross-Country Real Estate
The new millennium has taken the real estate industry for a pretty wild ride. Nothing but up, up and away have gone prices, with inventory availability down to a severe low, keeping it interesting. Yet real estate is a still hot commodity…and a solid investment. Despite last year’s nail-biting stock market fluctuations, patience-trying political transition and worry-provoking issues concerning the national economy, real estate has stood tall through it all, especially in major cities. In fact, economists say we’re enjoying one of the healthiest real estate markets in history, and anticipate no chance of a downward cycle within the next two years. Add to the mix solid job growth in major metro areas plus lowered interest rates to inspire even skeptical buyers, and you can bet real estate will continue to weather the storm as a top performer as predicted. Read More
