New York Real Estate Market Report Week of Nov. 5 to 11

November 12, 2009 Updated: October 1, 2015
A building in the Queens borough of New York City. (Spencer Platt/Getty Images)
A building in the Queens borough of New York City. (Spencer Platt/Getty Images)

NEW YORK—The latest on the foreclosure roller coaster: Last month saw a decrease of 3 percent in nationwide foreclosure filings from September, according to RealtyTrac, the foreclosed homes marketplace. But that's still up nearly 19 percent from Oct. 2008. One in every 385 U.S. housing units received a foreclosure filing in October this year.

Another report issued today by Move.com says that investors are moving back to real estate. According to the survey, 12.1 percent of home buyers plan to invest in a home, compared to 5.6 percent seven months ago. Foreclosure buyers make up just over a quarter of homebuyers on the market.

Sales

Newly listed on Wednesday were four units at 3111 Ocean Parkway in Brighton Beach. At this condo, a one-bed, one-bath apartment goes for $475,000. The building comes with swimming pool, gym, and a beach not far away. The address is a block away from the Ocean Parkway stop on the Q subway line.

Way up north in Manhattan is 55 Park Terrace East #B64 in Inwood, also listed on Wednesday. For $519,000 in this neighborhood you could get a two-bed, two-bath apartment. The developer also offers a common roof terrace and free high-speed internet access. The building is located near the last Manhattan stop on the 1 subway line.

Harlem, the Upper West Side, and Lincoln Square are some hotspots this week for new listings.

This week, 47 sales were recorded on Streeteasy.com. Several were in Forest Hills and Jackson Heights, and Flushing, Queens; and Gramercy, Lincoln Square, and Lower East Side in Manhattan.

Rental

From $1,295 for a studio (Upper East Side) to $8,500 for a two-bed, 2.5 bath apartment (Flatiron), the newest listings on Streeteasy run the gamut in size and price.

At 457 Broome Street in Soho, a 4 bed, 1 bath apartment goes for $5,295. The loft apartments here have 14-feet ceilings, hardwood floors, and in-house laundry.

In Astoria, a 2 bed, 1 bath walkup was just listed for $1,700. Cooper Cooper describes the “bright, cheery home” as having natural light from south, west, and east.

In Park Slope, Brooklyn, a 900 sq. ft. apartment is being offered at $2,200. The building is located at 355 5th Ave. and has 2.5 bedrooms and 1 bathroom.

New Developments

Price movers for the last week in new developments consist of two buildings in Park Slope, one in Williamsburg, and one in Lenox Hill.

The Laurel at Lenox Hill claims to be “Manhattan’s most popular Upper East Side condominium” and has dropped prices on 24 of its 31 open listings. The condo has 129 residences in total, is LEED-certified, and has private clubs and amenities. A typical two-bedroom is now priced at $2,110,000.

NV at 101 North 5th Street in Williamsburg has an interesting mix of price changes this week. The higher-priced units got more expensive while the lower priced ones just got cheaper. A 994 sq. ft. on the lower end of the list is now $659,000 and the highest-priced 1,159 sq. ft. unit is now $925,000.

368 12th Street in Park Slope has been dropping its prices over the past several weeks, this week with seven decreases.