StreetEasy's 2017 New York Housing Market Predictions

January 9, 2017 | by Streeteasy Team
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Every year, StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. A year ago, we predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and a greater rent burden for Brooklynites. Heading into the New Year, we dusted off our crystal ball – that is, our extensive market data – to forecast some of the leading trends that will shape the city’s sales and rental markets in 2017. Manhattan Sales Market Will Have Slowest Growth of All Boroughs Where high demand and high-priced inventory kept Manhattan resale prices soaring over the past few years, luxury is now what’s dragging the marke... Read More

NYC Real Estate Experts Offer Their 2017 Predictions

January 9, 2017 | by Emily Nonko
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CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, renters can look forward to more apartment concessions from landlords coming next year. President Donald Trump will have big effects on NYC real estate Stephen DeNardo, CEO of RiverOak Investment Corp. The day after the election, Crain’s New York Business ran the headline: “President-elect Trump unlikely to hurt real estate industry that made him.” Th... Read More