Text: On several occasions brokers at Mercedes Berk found themselves in situations which reminded them of times at the height of the market. New listings which fit our clients’ needs must be visited as soon as possible. Special apartments are being bid on at the first showings. Even with an accepted offer, selling brokers continue to receive additional offers and <READ MORE>
Manhattan rental prices have climbed 3% from a year ago, striking an all-time high. The average Manhattan apartment rented for $3,429 last month. The vacancy rate is down to 1.16% from March’s 1.25%. The supply of apartments is low, making it likely that rents will climb as the vacancy rate decreases in the coming months. Leasing agents are advising apartment <READ MORE>
Most buyers and sellers of New York City real estate understand the bidding and buying/selling process well enough. What most of these people usually don’t know or understand are what closing costs will be incurred in order to make the deal happen. The costs will vary between buyers and sellers and between co-ops and condos. Closing Costs: Co-operative & Condominium <READ MORE>
The New York City Department of Buildings has reported a 169% increase in new building permits in the first four months of 2012 as compared to the same period in 2011, having issued 35 permits for construction. Demolition permits, also issued by the DOB, were also abundant, with 74 issued through April, more than doubling the five-year low of 35 <READ MORE>
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