"Flipped In Florida" - For Sale Sign On Almost Every Other Home

Dude, you are clueless whats going on in NYC. Stop listening to all of the BS and gloom and doom crap. Read the article from the NYTIMES a few weeks ago,,

http://www.nytimes.com/2007/02/19/nyregion/19market.html?ex=1175054400&en=2259e798a63a668a&ei=5070

 

I am not saying they will all go up and everything is great. Prices might drop a bit even in places like Manhattan. But the talk of total crash and doom and gloom is BS. This is unlikely to happen in solid areas, where people want to live in.

 

....and WHERE do you see $2k/sq ft?!?

I can't find those prices in $60,000,000 condos in the most desirable upper east side locations.

 

Do you just "figure" that? Or do you have solid reasoning?

 

Avg high end new construction in manhattan sells for 2k per sq ft. A 2000 sq ft apt. sells for $4-5mil. Call up a nyc elliman or corcoran broker.

 

I've been looking at used/new/upgraded/redesigned and they're $1,200k per sq. ft. max. I see $500k-60M places...nothing is 2k sq. ft.

Will pick up the thread again in the mornig. If you have a link that'd be great...thanks.

 

Average price in Manhattan are around 1k per square foot (which is only about 300% above where it was in 2000).

That's one perk of living in a place like Miami. You can be on waterfront high rise for $450-$500 a square foot (and a lot less, if you build the development yourself ).

 

All high end new condo 2br+ in prime location are avg. for 2k per sq ft. Call up there sales offices and ask where 2-3 beds are selling for.. Maybe the one on the lower floors with no view and heavy noise will go for like $1500 per sq ft at least.

http://www.thelucida.com/

http://www.therushmoreriverside.com/

http://www.corcoran.com/agents/listings.aspx?Region=NYC&userid=101WARREN

 

We do not normally quote from analyst’s reports but the following caught our eye from today’s edition of the London based Daily Telegraph.


"America’s housing slump is more serious than widely believed and risks setting off a full-scale global crisis, Morgan Stanley has warned in a note to clients. The US bank said the sudden deterioration in the sub-prime sector knocked away the "cornerstone" of US household consumption and threatened contagion to a broader nexus of complex derivatives.


"US sub-prime has the potential to turn into a real financial crisis. We do not make this assertion lightly," said Teun Draaisma and Graham Secker, the bank’s two chief equity strategists for Europe.


It is not common to find a large investment bank issuing such a stark warning.


.....from Clive Corcoran. Didn't MS just dump the 2.5 bill it took from New Century?

 

Those are some of the few and far above properties that people with no care for money spend...you can look at any other variation. At first you said condos, then you added the word "new" and I didn't catch it.

One of the properties you showed had a mixed use property with a Whole Foods and B&N. Of course they can pinch rich people for more money.

Average people are NOT paying $2k/sq ft. by any means...look at the majority of realtors in the city and classifieds.