Tag: New York Times

Pros and Cons of Each Apartment – Vivian S. Toy’s Take

Pros and Cons of Each Apartment – Vivian S. Toy’s Take Graphic (adjusted to fit this page) courtesy of The New York Times - Published Dec 2, 2011 accompanying "The Apartment Critic" article by Vivian S. Toy

I really liked Vivian S. Toy’s recent article “The Apartment Critic” in the New York Times, and wanted to share it with you. Vivian has visited over 600 Manhattan apartments in the last five years for her “On The Market” page in the NYT’s Real Estate Section. Being required her to narrow down each apartment she’s viewed to highlight the Pro’s and Con’s has provided her with a unique perspective on Manhattan real estate. She makes some key takeaways: 1) Be upfront about both the pros and the cons about an apartment with a client – that builds trust between a broker and buyer. 2) Design choices can minimize a con, but sometimes too customized a design choice can become a con and lead to lowered value and longer time on the market 3) and the important acceptance of “To live in New York is to embrace compromise, how else could we live as we do, cheek by jowl and in such limited spaces?”

I think that’s one of the hardest mental hurdles first-time Manhattan buyers need to embrace – Read more…

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1 World Trade Center Rises – A View from the Top

1 World Trade Center Rises – A View from the Top Ironworker delicately maneuvers on a beam high above Manhattan at the 1 World Trade Center site - Photo: Damon Winter for the NYT

The New York Times published the most amazing moving video-photo montage (Click Link To Watch It) of the men who are the faces behind the structure that is rising so rapidly downtown, 1 World Trade Center. Look up New York! While we hurry to work, take our children to school and type texts as we walk past 900 feet below, where once two stood now rises this One.

As Labor Day and the 10th Anniversary of 9/11 approaches, I wanted to pay homage to those who are working every day to re-build (or should I say build) the World Trade Center. Read more…

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Huffington Post Surpasses The New York Times as Top News Website

In an article written for guardian.co.uk on June 14th, Roy Greenslade reveals that per Comscore, The Huffington Post beat The New York Times as the most viewed news website in the US in May 2011. With 35.6 Million unique visitors vs. the NYTimes.com’s 33.6 Million visitors, the six year old web-site founded by Arianna Huffington has broken a new benchmark. While the NYTimes site saw an 11% drop in visitors after it erected a pay wall in March, limiting visitors to the site to 20 free articles a month, that does not explain the increase of visitors to the Huffington Post by 14%. Acquired by AOL, it has recently benefitted from re-directed traffic to it from AOLNews.

I found this article interesting because I think it reveals the changes that have been evolving in all industries over the last ten years, due to the emergence of online business technology and mobile media devices and portals. On-line presence has become not only an adjunct to a business model, but as shown by this example, it is the business model.

How does that translate to the Real Estate business? Read more…

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New Developments. Why will apartments cost more?

New Developments. Why will apartments cost more? Carnegie 57 to open in 2013 - Photo: Marylinn K Yee/NYT

A recent article in The New York Times by Vivian Toy discusses the state of New Residential Developemts in Manhattan in 2010 and currently. To her point, applications for new construction fell off a cliff in 2009 and 2010 which may result in a shortage of inventory in the market in 2012 and 2013. Combined effects of the recession, harder to come by financing for both buyers and developers stalled the new construction of residential units, both for rent and for sale. Stall is the right word as there was a drop of 95% in the number of units applied for in 2010 vs. 2008 (approx. 500 vs. 9,500).

NYT housing Permit Graph Jan 141 16cover-graphic-popup

NY real estate NYT housing Permit Graph Jan 141 16cover-graphic-popup

Many new developments that were under way stalled during the recession but some have slowly re-emerged and have been selling, Read more…

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