Connor Reider Real Estate

05/17/2021

APRIL 2021 RENTAL MARKET REPORT!

The highest number of Manhattan lease signings on record, spurred on by continued price declines. Month over month net effective median rent declined for the first time in five months and at the highest annual rate in a decade. Landlord concessions rose to their second-highest level, falling just short of the record set back in January. Both doorman and non-doorman rentals saw their largest year-over-year declines in nearly a decade of tracking. Existing rentals saw their largest annual decline in six and a half years and fell at twice the rate of new development rentals. Consistent with new development, the market share of luxury market concessions continued to be less than the remainder of the market.

The Brooklyn market saw record new lease signings combined with a record annual decline in net effective median rent. Landlord concessions rose to their second-highest level, falling just short of the record set back in January. While median rent for all apartment sizes fell year over year, one-bedrooms and two-bedrooms fell annually at record rates.

04/23/2021

Thinking about buying your first home? Get the most crucial piece done first - prep your finances!

Here's how to take the leap.

04/22/2021

Attn Outdoor BBQ & Grill Lovers in NYC:
Wonder what the rules are for grilling on your balcony? It's not as straightforward you may think!

04/12/2021

MARCH RENTAL HIGHLIGHTS:
In MANHATTAN, net effective median rent began to show month to month stability in the new year. New leasing signings for a March reached their highest level since tracking began in 2008. The dollar amount of rental concessions rose to the third-highest level since 2008. Doorman new lease signings continued to rise by about twice the rate as non-doorman lease signings, while existing new lease signings increased by more than twice the rate as new development lease signings. Landlord concessions market share for the luxury market was nearly half that of the non-luxury market. Lower price tranches continued to see a larger percentage decline in median rent than higher tranches.

New lease signings in BROOKLYN have continued to rise sharply since the fall, up sharply year over year for the seventh consecutive month. The net effective median rent fell year over year for the ninth straight month. Lower price tranches continued to see a larger percentage decline in median rent than higher price tranches.

04/12/2021

Q1 SALES REPORT:
Manhattan sales exceed year-ago levels for the first time in four quarters. The market share of bidding wars fell to its second-lowest level in nearly thirteen years of tracking. Listing inventory continued to see annual increases skewed towards smaller apartments while median sales price for co-ops and condos individually declined year over year. Co-op sales more than doubled since the end of the spring lockdown, and condos saw the highest market share of financed sales in seven years of tracking. All luxury price trend indicators fell short of year-ago levels, seeing larger declines than non-luxury. New development sales below the $3 million threshold surged year over year.

04/10/2021

In recent months, discounts are dwindling on Ask v. Accepted Offer price points in Manhattan. Contact me for more details if you're curious about what's happening in the NYC market!

02/25/2021

Looking to buy in 2021? These neighborhoods in particular have seen some stellar deals (and are forecasted to continue through the remainder of the year)!

Here's where you can find deals.

02/11/2021

Drool.

Carrie C ChiangLICENSED ASSOCIATE RE BROKERLICENSED AS CARRIE CHIANGOffice: (212) 836-1088ccc@corcoran.comLei ChenLICENSED ASSOCIATE RE BROKERLICENSED AS LEI...

02/07/2021

Manhattan West v Hudson Yards - this is the first time I’m seeing Brookfield’s video for Manhattan West, and it’s insane. Having lived so close to this development for the past few years, it’s exciting to see this vision slowly coming to fruition!

01/22/2021

Considering buying or selling your home? While these trends are on a national scale, consult your local real estate expert on what's happening in your neck of the woods (a la Al Roker)

Real estate trends affect us all, so it’s smart to keep an eye on them. Whether you’re selling, buying or staying put, here are the top trends you need to know!

11/17/2020

A beautiful reminder of the power of perseverance. http://ow.ly/5k5W30rkpxo

Nikic, 21, became the first person with Down syndrome to conquer the grueling endurance race, offering lessons in perseverance and hope.

11/12/2020

What's happening in the Manhattan Rental Market?!
New leases in Manhattan surged to the HIGHEST October total in twelve years, as falling rents are beginning to pull tenants back to the city. New leases surged year over year after seeing no gains for the previous fourteen months. The market share of landlord concessions set new records. Net effective median rent fell to its lowest level in nine and a half years. Landlord concessions for non-luxury properties were substantially higher than for luxury properties as the median rental price declined at a larger annual rate in the lower price segments.