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Tuesday, March 6, 2007

the downtown download

Loft 66 Crosby Street 514 Broadway One Fifth Avenue meatpacking district

market reportthe downtown report (324 kb .pdf) Excerpted from the 2006 year end corcoran report, it shows a landscape of modestly increased value in homes of +5% on average. Individual results are somewhat mixed, depending on the size and type of property. New condo developments, a generally pricier product, help to boost the averages as high as +18% in that category.

report_image.gifThe NYC loft market is highly concentrated downtown in areas such as Tribeca, Soho, Chelsea and the Village actually saw an average price decline of -14%. Yet the news is not quite as bad as it might appear at first glance, as this includes more transactions of smaller properties, at higher prices. A fact which is also reflected in a overall median price decline of -17%. Median price is the amount that most people pay for an apartment in any given category. When you look at the loft numbers for each size of home, they appear anywhere from flat to an increase of up to 14%. None entered negative territory. You can see all the numbers, in every category, by downloading the complete report, and of course you can leave a comment or contact me to answer any questions you may have.

download the downtown report
other recent reports:
the uptown west report (338 kb .pdf)
the uptown east report (338 kb .pdf)
the brooklyn report (532 kb .pdf)
the corcoran report: forth quarter 2006 (1.1 mb .pdf)
the corcoran report: third quarter 2006 (3.9 mb .pdf)