High Rents Make A Comeback; Migratory Midwestern Lovebirds Nest in Manhattan

1.)    A doting Midwestern couple endured a five-year journey to upgrade from their sunny but staid one-bedroom Yorkville co-op to a hotter downtown nabe. Besieged by a slew of budget-busters, the fatigued Missourians finally settled on 1,000 square feet of black-walled Barrow Street garage conversion goodness – rent-to-own style – for $899k while taking a $25k loss to dump their dowdy Yorkville digs. Natch, the Middle America duo embraces the excitement of the West Village, save the “psychics and sex-stuff.” [The Hunt/’A Condo in The Thick of Things’]

2.)    Manhattan’s shape-shifting rental market returns to its pre-recession form: higher rents and fewer incentives. Landlords to renters via the Times: “the short answer to ‘What can I get for $1,000?’ is: Go to Queens. Or even Brooklyn.” Good to know. [‘In Manhattan, Rents Are Creeping Back Up’]

3.)    1 World Trade Center (the Freedom Tower) manages to rise above it all. Not just the terra firma, ladies and gents. Long the object of derision, the flinty little sliver of glass has won the hearts of at least four developers now competing for a minority stake. But this little love pentagon will be short-lived: the Port Authority will select a single winning bid come June 2010.  [‘Once Derided, Freedom Tower is Now Desired’]

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  1. […] Manhattan rents aren’t the only things making moves in New York real estate. Word has come from the Curbed inbox that Prudential Douglas Elliman’s Managing Director and head of Development Marketing, Andrew Gerringer, has departed for new development marketing giant, The Marketing Directors. With Douglas Elliman representing a lion’s share of new development across the city, this sudden regime change will surely have the brokerage houses roaring. […]



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