New York Real Estate Report Week Oct. 8-14

October 15, 2009 Updated: May 26, 2010

NEW YORK—The foreclosure situation isn't seeing much change, according to a report from Realty Trac, the foreclosure marketplace. While the number of foreclosures have fallen four percent since last month, the report says that the foreclosure rate is still rising overall—five percent since last quarter. One in every 136 U.S. housing units received a foreclosure filing during the quarter, with Nevada, Arizona, and California taking the lead in foreclosure activity.

Sales

A happy occasion on Streeteasy this week—some lucky buyer snatched up a 926 sq. ft. condo for $1,005,000 in the Financial District. The unit at 20 Pine was in contract almost as soon as it was listed on Wednesday. In that neighborhood, $1,150,000 is the median price. Recently listed in the Financial District are a few units at 111 Fulton St., one of the area's major condominiums.

Does anyone care about Williamsburg anymore? If you're faithful that the overbuilt neighborhood will see a recovery in coming years, note that 1 Powers St. will have their grand opening on the evening of Thursday, Oct. 22. Listed by Apts and Lofts, the address has 13 available units at the average of $574 per sq. ft. Compare with the average of $613 throughout Williamsburg.

While the fate of Williamsburg is to be decided, clearly the Upper West Side is much loved among homebuyers. Of the last ten recorded sales, four were in the Upper West Side. Other favorites are Greenwich Village, Park Slope, and Flatiron. There were 15 recorded sales in the last seven days.

Rentals

No fees! Everywhere no closing fees—everywhere but the Upper East Side, that is. Recently listed rentals in the West Village, Battery Park City, and Long Island City, are priced at $1,925 to $4,920.

Some of the price points: a couple of listings in Chelsea are going for about $3,400; Battery Park City for $2,980; and Greenwich Village for $2,850.

New Developments

Looking for a deal on an apartment new and shiny? Check out Streeteasy's price movers section under the new developments tab.

There is now 239 West 135th St. in Central Harlem with 12 price decreases in the last week. Now an average 623 sq. ft unit is priced at $395,000. The Luminary at 41 7th Ave. dropped prices six times this week. A two bedroom there is now $1,695,000. At 100 Gold Street in DUMBO lowered prices as well. Their next open house is on Sunday, Oct. 18.