New York Real Estate Market Report Week of Sept. 24-30

October 1, 2009 Updated: May 26, 2010

The Wall Street Journal is looking ahead to better days. They asked a panel of 10 experts which major U.S. cities the young and the hip will flock to next. The verdict in order of rank: Washington DC and Seattle, New York, Portland, Austin, San Jose, Denver, Durham, Dallas, Chicago, and Boston.

Well, as long as New York City has some rank among those, let's take a look at where the pads are. Listing data brought to you by Streeteasy.com.

Sales

The newest listings as of Wednesday afternoon are all over the map, both in terms of geographic location and price. In studios, we have one for $297,000 in Murray Hill, one for $249,000 in the West Village, and a $365,000 studio on the Upper West Side.

In the pricier range, the Upper West Side has a $1,195,000 condo (4.5 rooms—2 beds, 2 baths/1,176 sq. ft.). The draw is that this address (100 West 89th St) is one block away from Central Park.

A comparable apartment recently listed is 360 Furman St. in Brooklyn Heights. Listed at $2,250,000, the unit has 2 beds, 2 baths, and views of Manhattan from its vantage point on the river front.

As for what buyers have purchased recently, we have a $150,000 co-op in Kensington, Brooklyn (out by Prospect Park South) to a $1,615,000 three-bed/2-bath co-op in Greenwich Village. In general, the sales within the past seven days have been in Manhattan and Brooklyn.

Rental

Streeteasy featured a crop of no fee rental apartments across the city this week. A particularly sweet deal is a $3,500 two-bed/1 bath unit a couple blocks away from the 6 subway line and inches from Baruch College. A great pick if you love college kids.

In general, there are 11,203 listings with an address on Streeteasy at the moment, a slight dip from a few months ago. Median price per square foot dropped by a couple bucks as well since spring, from $51 to $49.

New Developments

Stagnation is the word in new developments. The same luxury condos that have been advertised since 2007 still have scores of units sitting empty. The only thing changing are the prices.