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November 21, 2008 8:54:27 PM CST

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New York real estate

New York real estate news stories

8 Stories

 Manhattan 
 Real Estate 
 Prices Plummet 

News will only get worse, experts predict

New York Times New York Times Nov 9, 08 7:24 AM CST
(Newser) - Manhattan real estate is already taking a major hit from the economic crisis, reports the New York Times . Median property prices in Harlem are down nearly 20%, and east midtown condos have plunged more than 18%. The downturn will eventually rock even the toniest neighborhoods, experts predict. Sales have slowed significantly, with 24% fewer homes selling in the last three months compared with the same period last year. More »

More about:  Financial Crisis • New York City • real estate • Manhattan • New York real estate

NYC's Luxury Apartment Bubble Bursts

There's now a glut
of pricey listings
on the market

New York Observer New York Observer Oct 8, 08 8:15 PM CDT
(Newser) - New York’s top real estate agents subscribed to an 8-word mantra last year, the New York Observer notes: So many eager buyers, so few trophy properties. But 2008 has brought a dose of cold reality. More than 168 luxury apartments and townhouses are on the market, dozens more than just 6 months ago and more than twice the number of 2 years ago . More »

More about:  housing market • New York real estate • luxury condo

Wall Street's Wealthy Can't Nab Apartments

With 7-figure bonuses in jeopardy, the rich lack buying power

New York Times New York Times Jul 12, 08 1:50 PM CDT
(Newser) - Manhattan’s most rabid real estate buyers are finding that a million-dollar bonus doesn't cut it anymore, the New York Times reports. With markets in turmoil, Wall Street bankers' staggering bonuses are in jeopardy, and apartment sellers are taking note. “They’re looking for people who have stable incomes that are not so market dependent,” one mortgage company president said. More »

More about:  New York City • Wall Street • real estate • Manhattan • investment bankers • condominium • New York real estate

 Abu Dhabi
 to Buy
 Chrysler
 Building 

Sovereign wealth fund offers $800M for
NYC landmark

New York Post New York Post Jun 11, 08 10:02 AM CDT
(Newser) - The Chrysler Building—a jewel of the New York City skyline since 1930—is poised to be sold to the Abu Dhabi Investment Council, reports the New York Post . The nation's oil-rich sovereign wealth fund is offering $800M for a 75% stake in the skyscraper. More »

More about:  New York City • Abu Dhabi • skyscraper • New York real estate • Chrysler Building • skyline

Real Estate Slump Strikes Manhattan

Average apartment price soars to record; big picture grim

Bloomberg Bloomberg Apr 2, 08 3:25 PM CDT
(Newser) - Manhattan real estate prices hit record highs in the first quarter of 2008, but sales declined, showing that the housing crunch is starting to affect the island, Bloomberg reports. The average price of a Manhattan apartment was $1.7 million, up 33.5% from last year, the New York Times reports, but sales for the same period fell 34%, the most in 18 years. More »

More about:  Wall Street • housing crisis • home prices • home sales • Manhattan • real estate values • New York real estate

Assistant Confesses to Stein Murder

She flew into a rage,
beat celeb Realtor
with a yoga stick

New York Post New York Post Nov 9, 07 5:48 PM CST
(Newser) - The assistant to celebrity Realtor Linda Stein confessed today to beating her boss to death. Natavia Lowry was arrested and charged with second-degree murder after she made a videotaped confession that she flew into a rage when Stein blew pot smoke in her face and was verbally abusive to her. She described grabbing a weighted yoga stick and striking Stein six or seven times in the head. More »

More about:  NYPD • New York real estate • Elton John • The Ramones • Linda Stein

Coney Island on Track for Ritzy Makeover

Fans grumble at cyclone-speed gentrification

Washington Post Washington Post Jul 11, 07 6:54 AM CDT
(Newser) - Landmark Brooklyn amusement park Coney Island is set to undergo a major makeover as an upscale techno-theme park with ritzy retail space and timeshare towers, the Washington Post reports. Thor Equities bought much of the six-block thrill park and officials hope to launch the $1.5B renovation in 18 months—much to the disappointment of Coney Island purists. More »

More about:  New York City • New York • cyclone • Brooklyn • real estate development • working class • hot dogs • New York real estate • amusement parks • Coney Island • Gentrification • timeshare • rollercoasters

Newmark Brains Scammers

Craig's List founder tracks online
swindlers the old-fashioned way— brainpower

New York Observer New York Observer Mar 5, 07 6:20 PM CST
(Newser) - “We are not really that high-tech of a company,” the man who brought classifieds into the Internet age, Craig’s List founder Newmark, tells the New York Observer, explaining why he uses a combo of customer feedback and his own memory—instead of techie solutions like IP-address blockers or email tracing—to track the real estate scammers who populate the site. More »

More about:  Internet • technology • fraud • real estate • Craigslist • NYPD • entrepreneurs • New York real estate • online fraud • Craig Newmark

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