Housing Market 2019

The economic outlook for 2019 is looking cloudier than ever.

U.S. stocks took a beating toward the end of 2018. After reaching an all-time high of more than 26,800 in early October, the Dow Jones Industrial Average fell more than 5,000 points by Christmas.

Add to that market miasma a perpetually deadlocked federal government, interest-rate hikes and an escalating trade war, and the economic outlook for 2019 looks cloudier than ever while predictions about a coming recession percolate.

Although the Dow recovered somewhat in January, New York’s real estate industry finds itself navigating some rough waters amid the ongoing backdrop of economic uncertainty. Here’s a look at how some key industry players are responding.

Residential opportunities

As stock market returns become less of a sure thing, some say investors are again turning to tangible investments such as real estate — a potential windfall for the city’s lethargic residential market.

“My clients have pulled substan上海贵族宝贝论坛 上海贵族宝贝tial amounts of money out of the [stock market] and do not want to sit on cash,” said Keller Williams broker Seth Levin. “I’ve had many conversations with them about taking advantage of the low competition and favorable buyers’ market we are experiencing here in New York.”

Of course, in times of indecision, pulling the trigger on a major investment can be hard for buyers as well, perhaps dampening the extent of a potential bounce back.

Warburg Realty agent Mihal Gartenberg said her American clients are often warier during bear markets and need to be persuaded of the benefits of buying property when stocks are volatile. But she noted that her “international clients consider real estate a stronger investment during times of economic uncertainty.”

The shift in buyer sentiment is most noticeable in the luxury residential market, where the slowdown has been the most pronounced, brokers say. The median asking price for Manhattan condos hit a low of $2.1 million in August, but since then it has started to rise, reaching $2.25 million in December, according to StreetEasy data.

And despite recent Federal Reserve hikes, interest rates remain at historically low levels, which should also encourage buyers.

“I think this market could be the perfect storm for a buyer, with rates still relatively low coupled with the fact that sellers are now more inclined to price their homes appropriately with where the market is today,” said Ace Watanasuparp, vice president of residential lending at Citizens Bank.

In fact, long-term fixed mortgage rates have dropped by nearly half a percentage point from their O阿爱上海同城 阿拉爱上海同城ctober peak. Nonetheless, future rate increases could change things quickly and spur more on-the-fence buyers into action.

“You’re not going to see a great sense of urgency until we go up by 1 percent,” Watanasuparp said. “But as rates start to inch up, you’ll see more people feel like they have to make a move if they want to purchase a home and leverage financing.”

Cloudy commercial forecasts

In con[……]

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Greenpoint Landing

Brookfield lands $217M financing for another Greenpoint Landing resi tower ICBC, Scotiabank led quartet of international lenders
上海龙凤论坛 新上海贵族宝贝论坛

A rendering of Two Blue Slip and Brookfield s Ric Clark

Brookfield Property Partners has secured financing for its next residential tower at its Greenpoint Landing megaproject with Park Tower Group.

A group of four international lenders led by Industrial and Commercial Bank of China (I爱上海同城 爱上海CBC) and the Bank of Nova Scotia (Scotiabank) are providing roughly $217 million in financing to Brookfield for construction on 41 Blue Slip (a.k.a. Two Blue Slip ), Commercial Observer reported. The 30-story rental tower will stand right next to Brookfield s One Blue Slip, or 37 Blue Slip, which is now complete.

City records indicate that loan documents for the deal were recorded in December.

The new debt refinances part of a $75 million ICBC loan from 2015, which went towards Brookfield s acquisition of the land for One and Two Blue Slip. Scotiabank represented t上海贵族宝贝 上海千花网龙凤论坛he two other lenders, TD Bank and Intesa Sanpaolo, and the four banks split the $217 million evenly into prorated shares, sources told CO.

Scotiabank assumed a portion of the prior ICBC debt in 2017, when it provided $137 million in financing for One Blue Slip. Last June, ICBC provided Brookfield with a $89 million loan for two other developments in the complex.

Toronto-based Brookfield is constructing four projects at Greenpoint Landing with Park Tower, which holds an undisclosed minority stake in the projects. L+M Development Partners is building three affordable housing projects at the complex as well.

In total, Greenpoint Landing is expected上海夜网论坛 上海夜网 to feature around 5,500 apartment units, 25 percent of which will be affordable. There will also be retail offerings, public park space and a school. Two Blue Slip will comprise 420 units, while One Blue Slip has 373. 爱上海同城手机版 新爱上海同城对对碰论坛[CO] –Kevin Sun

Tags: Brookfield Property Partners, greenpoint landing, Real Estate Finance
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Manhattan Luxury Residential Market

There were 25 deals last week in Manhattan’s luxury market: Olshan Priciest deal was a roughly $16M condo at 45 East 22nd Street

45 East 22nd Street and 215 East 61st Street

Manhattan’s luxury market saw 25 contracts signed last week for a total of about $167 million, according to the latest report from Olshan Realty.

The contracts signed at $4 million or above included 14 condos and eight co-ops, as well as three townhouses.

While total sales st爱上海同城 爱上海ayed flat, dollar volume was down from the week before, when 25 contracts were signed for about $187 million.

The top contract last week was for a 56th-floor sponsor unit at Bruce Eichner s 45 East 22nd Street, which was asking $16.995 million, down from the original $20.75 million asking price when it was listed in 2015. The four-bedroom unit span新爱上海同城对对碰论坛 上海同城对对碰交友社区s 4,665 square feet and comes with 360-degree views from the East River to the Hudson River.

The secon爱上海同城手机版 新爱上海同城对对碰论坛d priciest deal was for a brownstone at 215 East 61st Street, which was asking for $11.95 million, down from $13.99 million when it hit the market last July. The 18-foot-wide house was sold for $5.9 million in新爱上海同城对对碰论坛 上海同城对对碰交友社区 2015 and was then gut renovated. The five-bedroom 上海千花社区 上海千花网交友home spans 5,900 square feet and includes a large kitchen that opens to a garden

Other contracts signed last week included a $11.75 million condo at 275 West 10th Street and a $9.995 million co-op at 1115 Fifth Avenue. The properties spent an average of 510 days on the market last week and had an average discount of 12 percent from the original to the final asking price. [Olshan] — Kevin Sun

Tags: olshan realty, Residential Real Estate
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” antediluvian reel OL ” will roll out new material piece include dragon of new enemy of region of new developed area

Before ” antediluvian reel OL ” official forum has a netizen to explode makings, this making will roll out new material piece ” Elsweyr ” , data piece have the soul of a deceased person of Elsweyr of region of new developed area, new occupation the content such as dragon of rabbi, new enemy. This netizen weighs new material piece will roll out in June 2019, this version advocate hit characteristic to fight with dragon namely, he still gave off picture of a few game. Subsequently ” antediluvian reel OL ” official hair is pushed express, will on January 15 afternoon at 5 o’clock (time of American the eastpart part) undertake game direct seeding, can be announced probably and new material piece concerned message. [……]

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” ultimate contest fast: Horizontal 4 ” update FF15 Leijialiya Type

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Game evening paper

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” sea thief king: World searcher ” scheme of new paragraphic cut reveals DLC Suo Long

2019 Chinese game grand ceremony — the social responsibility construction of game business

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[company of growl racoon dog] semifinal of MMC2019-Top8 winner group: Straight face just can end Bao Kemeng you are thinking fart to eat. . . . .

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Employee information discloses Microsoft to grinding lead plane of generation Xbox sport of hair

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” psychological gauger: ? Brandish wakes ≡ Song male armpit! Does Fei  sweep past home of cochlea square counterfeit shine?

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” psychological gauger: ? Brandish wakes ≡ Song male armpit! Square  ? lands North America area 13 days month. Besides PS4 and PSV platform, this game still will land PC.

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