• English
  • 中文 (中国)
  • JMA Property Services

    • Home
    • About JMA
      • About JMA
      • Career Opportunities
      • Testimonials
      • News
    • Property Management
      • Pre-Occupancy
      • Leasing
      • During The Tenancy
      • Tax Returns & Accountancy
      • Owner Communication
      • Acquisition & Re-Sale
    • Portfolio
      • New York Area
      • New Jersey Area
      • Chicago Area
    • Residents
    • Contact Us

    Market Update and New Opportunity in the East Village

    Home
    /
    Newsletters
    /
    Market Update and New Opportunity in the East Village
    May 29, 2013

    NEW YORK MARKET UPDATE

    When analysing the market in the first quarter of this year, it is very clear to see how the Manhattan market has moved from being tilted in the favour of the buyer 18 months ago, to now leaning towards being more of a seller’s market.

    Inventory has continued to decline at a dramatic pace, with the amount of property listed now 35% lower than in Q1 2012. At the same time sales of residential condos have increased and median sales prices have also risen, up by 13.8%. Added to this the number of days properties have been on the market before selling has reduced and additionally the difference between list price and actual sales price has become much tighter.

    In the New Development market, which makes up the majority of the real estate sold and managed by JMA, prices have increased by as much as 35%, which in part has been driven by a number of luxury projects being launched over the last 12 months like One 57 in Midtown and 56 Leonard in Tribeca.

    However, with precious little brand new construction having been undertaken in the years immediately after the woes of 2008, developers are now closer to launching a number of new projects that they started once the housing market recovery was underway.

    This is good news for buyers as in the second half of this year we expect to see some very attractive developments in some excellent locations in Manhattan become available. The first one JMA has secured is The Jefferson, in the East Village, details below.

    While pricing has increased, mortgage rates continue to be offered at very low interest rates and monthly rents are now at their highest ever levels, ensuring Manhattan continues to attract considerable attention. However, unlike residential real estate in some other global cities, Manhattan continues to be driven local buyers, who make up around 75% of the market.

    View Florida Market Update

    NEW OPPORTUNITIES IN NEW YORK & FLORIDA


    The Jefferson, East Village (New York, New York)

    Eighty-one brand new residences, that will be complete in Spring 2014, located in the East Village at 211 East 13th Street, just two blocks from Union Square Park and multiple subway and transportation options. (A five minute ride to Grand Central Station).

    The East Village is well known for its arts and music roots, with Andy Warhol a previous resident. Now it is a highly desirable neighbourhood home to unique theatres, restaurants and shopping. It is also just a short walk to NYU.

    Designed by BKSK Architects, with interiors by Kara Mann Design, The Jefferson will offer modern luxurious living, a full range of amenities, including doorman as well as roof garden offering views over the neighbourhood. Sales are now underway with a number already sold. Pricing from $850k to over $3m.



    Santa Barbara Villas (Pompano Beach, Florida)

    The final 4 town homes at Santa Barbara have just been released, in this brand new development of 10 properties, located in the heart of beautiful Pompano Beach. Being part of the Miami metropolitan area and a popular vacation hot spot, this part of Florida has, and continues to attract well-heeled vacationers who pay a premium to stay in good quality accommodation.

    Located less than a mile from the beach and even closer to the intracostal waterway, main dining and shopping centre, Santa Barbara is the only new development opportunity in Pompano Beach.

    Each home has 3 bedrooms, 2.5 bathrooms, a private garden plus garage parking. There will also be a common resort style swimming pool plus whirlpool and cabana.

    Pompano Beach has benefited from a multi-million dollar program of regeneration, which is now almost complete. Pricing is still considerably lower than Ft. Lauderdale, its immediate neighbour to the south, and the potential for price appreciation, while still benefiting from excellent annual returns, makes Santa Barbara particularly attractive.

    A deposit of 25%, the balance on completion in early 2014, financing available and pricing from $309k.



    For more details on market news or new opportunities please contact Alistair Auty, info@jmaprop.com.

    Market Update and New Opportunity in Pompano Beach
    Latest NY Area Market & Opportunity Update

    Related Posts

    • Latest NY Area Market & Opportunity Update

      NEW YORK AREA MARKET UPDATE The news from the NY market continues to be positive,
    • Market Reflections at the Start of 2017

      Welcome to the first Newsletter of 2017. I hope everyone had an enjoyable Christmas, and my best wishes to all for a prosperous New Year! As many clients know, our main areas of operation are in New York, the Jersey Gold Shore and Chicago. In this Newsletter, I’ll share some news from each of these markets.
    • New Opportunity on Manhattan’s Park Avenue

      1399 Park Avenue – from $680k – Located 2 blocks from Central Park in Upper Carnegie Hill (the neighborhood immediately north of the UES), 1399 Park is a brand new construction opportunity with prices starting below $1,200 per sq ft.
    • Latest NY Area Market Newsletter

      NY area Market update, current NY market insight, example NY new development projects and more!
    JMA Property Services © 2018 • Privacy Policy
    Web Development by Thunder Media Group