Tuesday, February 16, 2016
Manhattan Market Temperature from UrbanDigs
Two things that stand out to me and have always been part of the conversation when I speak with clients, " Each building is an Island,price correctly and let the market work". Sales spiels from Glenngary Glenn Ross don't have a place in todays high tech, transparent marketplace. Honesty, knowledge and transparency have taken the place of the classic, old school sales pitch. The NYC buyer is highly educated and wants an informed broker partnering with him/her to assist with a sound strategy and assessment of valuation. Seeing what is right with the deal is easy, we work hard to identify what is wrong with the property/deal. Perhaps it is a bit naive to say we don't ever sell, however we certainly resist the urge and seek to provide clear insight and information to assist the client with drawing sound conclusions. "Our index current stands at 143.31. It pins the peak of the market back in June 2015, with a value of 154.89. So, the UD index currently thinks today’s Manhattan market is -7.4% from the peak hit in mid 2015."