Data plays an ever-increasing role in helping brokers, developers, contractors, lenders, and other professionals understand the rapidly changing real estate marketplace. With that in mind, real estate data and analytics...
Author - Joe Zappa
When Condos Go Rental
Developers sometimes decide to rent units in a condo building instead of selling them, usually due to adverse market conditions. The developer may be waiting out a period of low demand during a downturn, anticipating...
Marketproof in the Media: Financial District Glut, Buying Bonanza, Luxury Sales
Marketproof maintains the largest and most up-to-date database anywhere on NYC condos, and our data is helping not only buyers and sellers but also leading journalists reporting NYC real estate news and their readers...
Digital Stacking Plans Transform Condo Inventory Visualization
Five months into 2021, the market is finally starting to recover from the COVID economic shock. Let’s add another tool to help fill your meetings and reports: digital stacking plans for thousands of NYC buildings...
What is a Stacking Plan?
A stacking plan is a visual representation of the units in a building. It shows the units on each floor and may highlight who owns or occupies each unit, lease expiration dates, financial information, and floor plan...
How Much New Development Inventory Does Manhattan Have?
After three years at record highs, new condo inventory in Manhattan declined about 5% from 2020 to 2021, according to Marketproof New Development data. A combination of strong sales and a decrease in new inventory has...
Big Discounts Fuel Sales for Ultra-Luxury NYC Condos
When the team behind 111 Leroy, a 10-floor, 13-unit condo in the West Village, wrote up the building’s offering plan, they planned to sell Unit 5 for $9.75m. The four-bed, five-bath unit counts 3,370 square feet...
Building profiles: 8 top-selling Manhattan condos of 2021
A wave of condo sales is driving the NYC new development market to years-long highs as a post-COVID boom materializes. Manhattan condos have been reaping the benefits of that surge in recent weeks, reporting the most...
What does a condo board do?
A condo board is a group of residents who enforce the rules of the condo and oversee its maintenance and finances. Residents elect their neighbors to the board. Board members typically volunteer their time...
How much is a down payment for a condo in NYC?
The standard down payment for a condo in NYC is 20%. That said, some condos will accept less, and not every condo has a minimum down payment requirement. Some new developments in the city will accept payments of 10% or...
