News
THE PRICE IS RIGHT
April 25, 2011
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| Multifamily’s movin’ on up, with George and Louise more likely to close on that apartment above the seller’s asking price. Nearly three quarters of residential real estate brokers surveyed by REBNY report that they expect Q2 to be better than Q1—and 67% of them believed that Q1 had beaten the previous quarter. Quarter-over-quarter results:7% report that sales closed above sellers’ asking price (up from 4%) and 15% say sales closed at the asking price (up from 12%). Similar findings were reported in the rental market. |
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| Steve Friedman |
| That gives REBNY prez Steve Spinola (center, with ATCO Properties’ Dale Hemmerdinger and Tishman Speyer’s Jerry Cohen) two things to smile about—he was recently honored during the Realty Foundation of New York’s 57th annual luncheon at the Waldorf. A well-deserved honor—not only has he been serving in the position since 1986, but he was on the New York State Real Estate Board panel from 1996 to 2010, advising on regulating the real estate profession. Before REBNY, he was president of the NYC Public Development Corp, the principal instrument for spurring large-scale commercial and industrial development and rehab programs in New York. As Realty Foundation chair Jerry points out: “Clearly Steve Spinola is one of New York City’s most valued, widely known, andrespected real estate figures.” Congrats! |
