09 November 2008

NYC real estate and its relationship to my bottom line

A Downturn Begins - NYTimes.com
The neighborhoods that fared the best through the third quarter included Fifth Avenue and Park Avenue from 59th to 96th Streets, where median prices went up 35 percent. In Lincoln Square, an area between 57th and 72nd Streets from Central Park West to the Hudson River that is home to high-priced apartments in 15 Central Park West and the Time Warner Center, median co-op prices went up 18.6 percent and median condo prices went up 25 percent.
Seems that I bought in the right neighborhood back in the day. And I don't think that I paid an inflated price; if anything, I paid a little less than market. It was a FSBO, so without a brokers fee, both the seller and I benefited.

And once I finish the renovation out on LI, I might be in the market to buy something else here in Manhattan. Have to see how things are in the spring, when I get back from sea.

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