From the category archives:

New Developments

Predictions already playing out so soon? Williamsburg market as prime example

by Red Delicious February 16, 2012

If you recall, less than a month ago, we published our 2012 predictions for NYC Real Estate. We knew we were on to something but didn’t realize just how quickly some of these predictions would be playing out. Just today we read in the Wall Street Journal about the plight of would-be buyers stranded by [...]

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2012 in NYC real estate: The year of “eh” with pockets of “wow”

by Honeycrisp January 24, 2012

Interest rates will hit their historical lows in mid-2012:  Yes, the interest rates have been lower for longer than anyone had expected.  When is the bottom going to come?  We’re calling it for mid-2012.  We anticipate that the first half of the year will be dominated by worries of Europe’s and the Euro’s fate, increased [...]

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When should you buy in a new development for the best deal?

by Red Delicious July 18, 2011

With tax abated properties getting absorbed with each passing week and the inventory of spanking new properties dwindling, fresh new developments coming to market are attracting many interested buyers.  Generally, they are frustrated by the feeling of seeing properties 80%+ sold and having few options from which to choose.  They are also feeling the pressure [...]

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A complete pre-closing walk-through in under 45 minutes: the chronological check-list

by Honeycrisp April 21, 2011

We’re often asked for help in the walk-through process.  “What should I look for?” and “How long should it take?” are questions often asked.  We have therefore compiled what we believe to be not only a complete check-list of items, but a chronological tour of the walk-through so that it proceeds smoothly, with no step [...]

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As new developments mature, buyers need to adjust expectations

by Honeycrisp March 29, 2011

As we ride the credit cycle of the last three years, it’s not surprising that fresh new development inventory is not coming online soon.  Even as previously frozen projects thaw, their units are not likely to come on the market for at least another 12-18 months.  This means that the oldies but goodies that have [...]

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Top 5 Trends for NYC in 2011

by Honeycrisp January 28, 2011

With 2011 off to a good start, we thought we would put a stake in the ground and make some calls about the trends that NYC is likely to see this year.  None are particularly controversial or earth-shattering (we’re not about blowing your hats off) … but definitely some food for thought for you real [...]

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The worst apartment in the best building or the best apartment in an “eh” building?

by Red Delicious December 17, 2010

New development purchases have definitely been on the uptick for the last few quarters, a resurgence of sorts.  For buyers who are looking at these shiny new properties, it can be tough choosing among so many options, particularly when a building first comes to market.  Further, everybody and their mothers seem to have a point [...]

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The loss leader strategy of new developments and how to recognize it

by Red Delicious September 2, 2010

One strategy effectively used by developers to move otherwise stagnant inventory is that of the “loss leader”.  They price one or two units in a building below market to generate interest, traffic and press, all of which can help in the selling of the remaining units in the development.  As a result, buyers attracted by [...]

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FHA Concession Limits Halved: How will developers adjust?

by Red Delicious June 23, 2010

At some point this summer, the FHA is going to cut maximum “seller concessions” from 6% of the home price to 3%.   Such concessions mean that the sellers (generally the sponsors of new developments) pay for costs associated with the sale of an apartment, including loan origination, transfer taxes, or entire closing costs altogether.   When [...]

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Which neighborhoods are likely continue experiencing downward pricing pressure?

by Honeycrisp March 21, 2010

Perusing The Real Deal’s Data Book is always an interesting experience, and this was no different for the 2010 issue.  Piquing our interest was the section outlining neighborhood inventory versus sales numbers.  Arguably, we should see a correlation between the inventory/sales ratio and the degree of pricing distress per neighborhood. As an example, the ratio [...]

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