Moving On Up...

In addition to my focus on residential sales in Lower West Manhattan, I also work with the investment team at Metropolitan Residential to market and sell investment buildings.  Currently,  we are marketing a short sale investment opportunity for a new construction condo building (with an elevator!) .  The property is located in on West 126th Street within 2 blocks of the express stop on the A/C/E line.  Here's a picture of the building. 

Now, this got me wondering....how many condos and other new construction projects are currently underway in Manhattan?  Read after the jump to see what I learned...

According to their website..."The Real Estate Finance Bureau of the NYS Attorney General's Office reviews all offering plans for the offer and sale of real estate securities in or from the State of New York, including interests in cooperatives, condominiums, homeowners associations and timeshares, to ensure that they provide disclosure of all material terms of the offer."

The Real Deal recently published their Data Book 2011, which compiles data on "all the biggest deals and players in New York City real estate together in one place."  It is a handy reference guide for use throughout the year....and for those of us that love research and data, its a smorgasbord (or cornucopia) of real estate information.  

This first post is for you, savvy buyer...a summary of new condo project submitted in 2010:  

• Harlem/Uptown - 103 units
• Upper West Side - 91 units
• Upper East Side - 35 units
• Midtown (including Chelsea, Flatiron, Murray Hill, Gramercy Park) - 165 units
• Downtown (including Greenwich/West/East Village, Lower East Side) - 36 units
• Lower Manhattan (including Tribeca and Soho) - 132 units

Although new condo units submitted to the AG's office overall dropped 28% citywide in 2010 from the year prior, there are 12 projects submitted for approval to being sales in Harlem.  With proximity to the express subway lines, continued development and commercial investment in the neighborhood (think Columbia expansion), and attractive pricing, this section of Manhattan offers many opportunities for the savvy buyer.  

View New Condos in Harlem in a larger map

If you're interested in learning more about these projects than what a quick online search turns up, please contact me.  I'll put my knowledge and research skills to work for you!

Happy Hunting...