Our First Post!

As a real estate broker, the question I am most frequently asked is "How's the market doing?"

While each sector of the market (sales/rentals, commercial/residential) is governed by its own dynamics, a common thread is that "it could have been much worse."

Whereas markets in Arizona, Florida, Nevada and California have experienced near total collapse, the Manhattan market has held up quite well.

Let's start with residential sales. I think the best barrometer for comparison are the closing prices for the same or same-line apartments. The easiest buildings in which to find such comps are highrise condominiums with like floorplans. Although the science may be inexact, a look at a couple of buildings reveals similar trends.