Tuesday, January 14, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
You know all those ultra-slender, ultra-fancy tower condominiums that have been popping up out of the Manhattan concrete since 2015? Next time you look at one, bear in mind that half the condos in them are empty. Surprise! No buyers, according to Nancy Packes Data Services. The other half are probably Starbucks that have gone vertical.
The reason for all the empty rooms over Manhattan: a combination of overly aggressive pricing and a growing public disdain for the skyline-disrupting mansions in the clouds. But really, it's all about pricing.
Comparing the prices of new development units to resale units over the last decade tells the story. In 2012, new units sold for a 22% higher prices than resale units. At the end of last year, the premium was 118%.
Nancy Packes lists three reasons for the “extraordinary oddity of the current cycle. ”
According to Packes, buil ...
Thursday, August 29, 2019 / by Vanessa Saunders
Completely furnished! Nothing to do but pack a suitcase and move right into this sunny unit, renovated just a few years ago. Light and bright, beautifully maintained, gleaming hardwood floors. Compact kitchen, appliances barely used, oak cabinetry, lots of storage, ceramic tiled floor. Pretty, renovated bathroom with tumbled tile back-splash. Private balcony. Rear building offers one of the quietest location in the complex. Storage and laundry room on site. One assigned parking space with ample visitor parking provided. Carefree living, no lawn to mow, no garden to weed, no snow to shovel – it’s all done for you! Taxes, water, sewer, garbage pick-up included in monthly maintenance fee.
Great location close to shopping, highways, buses and Metro North. A short hop to Stewart International Airport, the Newburgh-Beacon Ferry, NYS Thruway, Woodbury Commons, West Point and all this vibrant area of the Hudson Valley has to offer!
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