With mortgage rates rising alongside inflation, tax abatements are an incentive for New York City condo buyers. An active 421-a tax abatement is a great selling point right now for the new developments that have one...
Author - Marketproof
Secret Condos: Finding the Next $250M Penthouse
Manhattan’s trophy condo towers have secret penthouses that aren’t for sale… at least not yet because they need to be priced. Could there be another mansion hiding in the clouds that’s worth $250M...
Find hidden, unpriced new development condos
The $250M penthouse at Central Park Tower was unpriced for six years before Extell unveiled it in September 2022. And there’s more where that came from. Did you know there’s another mega condo just one floor...
Brooklyn’s Condo Market Levels Up
The average price for a two-bedroom condo in Brooklyn has effectively doubled over the past decade – rising from $722K ($648 PSF) in 2012 to $1.25M ($1,141 PSF) in Q3 this year. And it’s not only prices that are rising...
Hidden in Plain Sight: NYC’s Mega-Condos are Top Sellers
In a tightening market where some new development condos are lucky to sign one deal every four weeks, the city’s biggest condos are finding 7, 8, 9 or more buyers a month. Marketproof used our sales velocity tool to...
Report: Manhattan Luxe New Dev Market Still Hot in September
The weather is cooling off, but Manhattan’s luxury new development market didn’t get the memo. Though new dev condo sales dipped slightly citywide in September, those for $4 million and up spiked 30% in Manhattan...
The $250M Question: Is NYC’s Ultra-Luxe Real Estate Market Ready for a New Record?
The $250 million Central Park Tower penthouse has the world asking: Is there actually a buyer out there? Gary Barnett, president and founder of Extell Development, seems to think so. This triplex mansion spans 17,545...
Kael Goodman Interview: Arpit Gupta, Co-author ‘Work From Home and the Office Real Estate Apocalypse’
Kael Goodman, the CEO of Marketproof, interviews NYU Professor Arpit about “Work From Home and the Office Real Estate Apocalypse” KEY TAKEAWAYS The shift to remote and hybrid work has reduced office values by as much as...
15 NYC condos and rentals new to the market
Coming out of the pandemic, the New York City real estate market is definitely in uncharted waters. Condo contract activity is finally slowing down, although still elevated above 2019 levels, while rents are...
News: New development condo sales slow for second straight month (The Real Deal)
Brooklyn sees most dramatic decline of any borough, but activity remains far higher than pre-Covid After a buying craze that characterized much of last year, sales of new development condos slowed across the city in May...
