NY Observer > Miller Samuel Inc. http://www.observer.com/taxonomy/term/29775/feed Articles from Observer.com en Mutual Assured Construction http://www.observer.com/node/37128 In the first quarter of 2007, the Manhattan housing market notched a record number of apartment sale  read more »]]> http://www.observer.com/node/37128#comments Real Estate Jonathan Miller Manhattan Miller Samuel Inc. Wall Street Sun, 15 Apr 2007 20:00:00 -0400 Tom Acitelli 37128 at http://www.observer.com Quarterly Figures Defy Dour Predictions http://www.observer.com/node/37073 If you’re a buyer looking for a good deal in the Manhattan housing market, consider condominiu  read more »]]> http://www.observer.com/node/37073#comments Real Estate Manhattan Miller Samuel Inc. Prudential Douglas Elliman Real Estate Wall Street Sun, 08 Apr 2007 20:00:00 -0400 Tom Acitelli 37073 at http://www.observer.com Vacancy! High-End Renters Flee to Buy http://www.observer.com/node/37041 Could the suddenly busy sales market be draining Manhattan’s luxury rentals?    read more »]]> http://www.observer.com/node/37041#comments Real Estate Barak Dunayer Barak Realty Manhattan Miller Samuel Inc. Sun, 01 Apr 2007 20:00:00 -0400 Tom Acitelli 37041 at http://www.observer.com Manhattan Apartment Prices Up 200 Percent; In '97, $225,000 Got You a One-Bedroom http://www.observer.com/node/35881 How far Manhattan's come. A new report says that the average sales price for a condo or a co-op in the borough has increased more than 200 percent in the last 10 years. The average price in 1997 was $430,927, and, in 2006, it was $1,295,445, according to the report from appraisal firm Miller Samuel and brokerage Prudential Douglas Elliman.

The titanic upswings in housing prices shouldn't surprise any halfway sentient New Yorker. But some stats in the report did startle The Real Estate.

The median sales price for a Manhattan co-op apparently jumped 244.4 percent from 1997 through 2006, traveling from what now seems a very affordable $196,000 to the decidedly less so $675,000. The median price for Manhattan studio co-ops was under $100,000; now, it's nearly three times that.

The prices-per-square-foot for Manhattan apartments in the late 1990's seemed especially quaint. An Upper East Side co-op sold for an average of $315 a foot 10 years ago, and for $988 a foot now. Along Central Park West a decade back, co-ops went for an average of $524 a foot; now, $1,548. Chelsea condos in 1997 sold for an average of $319 a foot--just about one-third of what condos there sell for now. In Harlem and East Harlem, the price per foot increased 340 percent, from $145 a foot to $639.

And, despite such price increases, the number of Manhattan home sales stayed steady year to year over the last decade, going from a valley of 7,316 in 1997 to a peak of 9,522 in 1999.

Miller Samuel CEO Jonathan Miller assured The Real Estate on Monday that a link to the full report would be up on his firm's Web site by early Tuesday.

UPDATE: The link is up (PDF). - Tom Acitelli]]> http://www.observer.com/node/35881#comments Real Estate Jonathan Miller Manhattan Miller Samuel Inc. Prudential Douglas Elliman Real Estate Tue, 20 Mar 2007 03:50:00 -0400 Observer Staff 35881 at http://www.observer.com The Afternoon Wrap: Monday http://www.observer.com/node/35879
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  • The Upper East Side zip code 10021 is getting chopped up three different ways by the U.S. Postal Service. Something tells us the two new codes will become just as adverse to Aby Rosen as the original one.
    • [NY Sun]
  • The Shake Shack opened two days early. Take that, lingering winter!
    • [Eater]
  • Daily Reminder That More Than 6 Million New Yorkers Don't Put Up With High Costs of Manhattan Housing: Out in Flushing, Queens, a five-bedroom Colonial with a five-car driveway and a pool recently sold for $620,000. The median sales price for a one-bedroom apartment in Manhattan was $649,000 in the fourth quarter of 2006, according to Miller Samuel.
    • [OuterB]
  • The Real Deal's hosting its third annual New Development Forum on Tuesday night at Lincoln Center. You don't have tickets? God, you're pathetic.
    • [Real Deal] - Tom Acitelli]]> http://www.observer.com/node/35879#comments Real Estate Flushing (New York) Manhattan Miller Samuel Inc. U.S. Postal Service Mon, 19 Mar 2007 13:34:53 -0400 Observer Staff 35879 at http://www.observer.com Edgy Brokers Get Big Whiff of Spring http://www.observer.com/node/36959 Neil Binder has been in New York real estate since 1979, and this is the first year that a reason es  read more »]]> http://www.observer.com/node/36959#comments Real Estate Manhattan Mike Simon Miller Samuel Inc. Scott Aaron Sun, 18 Mar 2007 20:00:00 -0400 Tom Acitelli 36959 at http://www.observer.com Brooklyn Still A Manhattan Alternative http://www.observer.com/node/35809 Brooklyn remaims a home-buying alternative to Manhattan, according to a new report from the powerful Real Estate Board of New York.

    The median apartment price in Brooklyn rose 6 percent from 2005 through 2006 to $343,000. That's less than half the Manhattan median sale price, which ended 2006 at $799,000, according to appraisal firm Miller Samuel. The median for one-, two-, and three-family homes in Brooklyn increased 16 percent in 2006 to $570,000. Try getting a Manhattan townhouse for that price.

    Brooklyn condo prices, according to the REBNY report, increased 9 percent to a median of $477,000. The median sale price for Manhattan condos by the end of 2006 was $1.03 million. The median for a Brooklyn co-op at the end of last year was $253,000; in Manhattan, it was $650,000.

    You get the picture.  read more »

    Full REBNY release after the jump. - Tom Acitelli ]]>     http://www.observer.com/node/35809#comments Real Estate Brooklyn Brooklyn Heights Manhattan Miller Samuel Inc. Mon, 05 Mar 2007 05:43:28 -0500 Observer Staff 35809 at http://www.observer.com     The Money’s Still Good, But Selling Today Is a Long Haul http://www.observer.com/node/36699 At the dawn of 2000, when the idea that the average sales price for a Manhattan apartment could top  read more »]]> http://www.observer.com/node/36699#comments Real Estate Bellmarc Companies Lew Goodman Manhattan Miller Samuel Inc. Sun, 11 Feb 2007 19:00:00 -0500 Tom Acitelli 36699 at http://www.observer.com Co-op and Condo Buildings Win City’s Valuation Game http://www.observer.com/node/36656 When is a luxury condo not a luxury condo?    read more »]]> http://www.observer.com/node/36656#comments Real Estate Brooklyn Independent Budget Office Miller Samuel Inc. The Corcoran Group Inc. Sun, 04 Feb 2007 19:00:00 -0500 Tom Acitelli 36656 at http://www.observer.com Prices, Sales Down In Queens, Report Says http://www.observer.com/node/35675 For those fleeing Manhattan's pricey housing, Queens may be the answer. Or maybe not.

    A new report from appraisal firm Miller Samuel for mega-brokerage Prudential Douglas Elliman pegs the average sales price of a Queens home at $492,117 in the fourth quarter of 2006, down 1.5 percent from the quarter before, but up 1.2 percent from the same time in 2005. The median sales price was $485,000 in the fourth quarter, also a slight quarterly decline, but year-over-year increase.

    Both the Queens median and the Queens average sales prices are about half of Manhattan's. Which might help explain why it takes around half as long in Queens (83 days) to sell a home as it does in Manhattan (149), according to Miller Samuel.

    Still, sales were down in the fourth quarter 12.6 percent from the quarter before, the new report states. Maybe, then, while Queens is cheaper than Manhattan (and Brooklyn, for that matter), it's still... well, Queens. (We kid, of course. Kind of.)

    - Tom Acitelli]]>     http://www.observer.com/node/35675#comments Real Estate Brooklyn Manhattan Miller Samuel Inc. Prudential Douglas Elliman Real Estate Thu, 01 Feb 2007 06:19:45 -0500 Observer Staff 35675 at http://www.observer.com