Calling anyone with cash: There’s never going to be a better time to buy a piece of NYC. “Values have come down a lot and stabilized in 2024 — and now present an opportunity,” said Ariel Prop…
Deutsche Bank picked up the massive Essex Crossing development along Delancey St. for a mere $236.9 million. It will likely be resold.“Values have come down a lot and stabilized in 2024 — and now present an opportunity,” said Ariel Property Advisors’ Shimon Shkury of the market for both office and multi-family buildings.
One of the priciest homes in the US just listed for sale — and ultra-wealthy buyers are already interested‘Home Alone’ house sells for $5.5M after a 7-month contract allowed owners one last Christmas there “The people buying for sub-$300 per foot or sub-$200 per foot are taking a chance … the city is perceived as a safe haven and it’s hard to go wrong.”High-net-worth individuals, family offices and international groups are also kicking bricks and buoying the market.
“The market is bouncing off the bottom and has created a foundation for the recovery,” noted Douglas Harmon of Newmark. “There will be new opportunities at significantly reduced prices.” He and Adam Spies marketed the office portion of Morgan Stanley’s 500 Park Ave., which is being sold to SL Green for $130 million; and 2 Park Ave. being purchased by Haddad Brands for $360 million — that seller paid $519 million in 2007.
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