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February 2010

February 19, 2010

How negotiable is that apartment?

Corcoran just released some additional data on the market place in January, to that which I presented in the most recent . A key trend is average deal negotiability from last asking price, and it is shrinking in every price category, compared with a year earlier. In January 2010, our contracts data signed indicated a range of negotiability between 5% to 7%.

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February 8, 2010

Manhattan Residential Market Snapshot January 2010

Marketwide sales activity slowed in January compared to December 2009. However, condominium sales are up 110% and co-op sales are up 118% versus January 2009. As is typical at this time of year, listed available inventory increased slightly this month as sellers relist their apartments in hopes of striking a deal after the holiday season. Available inventory is still far below levels seen a year ago. In January, the pricing disparity between buyers and sellers continued to close. The discounts this month were among the mildest in over a year. Buyers are typically able to obtain larger discounts for more expensive properties.

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February 1, 2010

Tribeca and Lower Manhattan public schools zoned

Months of speculation, controversy and debate ended last Friday as the District 2 Community Education Council voted 6-4 for "Option 2" as the temporary public school zoning for lower Mahhattan including: Tribeca, Battery Park City, The Financial District and Seaport area.

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