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  1. J

    2021 $ volume off the charts (literally!)

    Check this out - the dollar volume of signed contracts in the 2Q of 2021 is a record by far. Moreover, look at the slope from q1 to q2 - it's also the mot intense on record..... it's nuts out there, right now.... BUT since 2004, only 3 years have seen $ vol increase from q2 to q3. One of those...
  2. J

    Missing the deals...

    We just did a piece on this - while there is more supply now vs last year, the demand is just outstripping it, leading to the impression that there's nothing there. There's plenty there, but the good stuff goes fast! Also, notice studios are the weak link.... size matters!
  3. J

    Weekly deal volume nearing 350!

    If Manhattan real estate is accelerating to ludicrous speed, Brooklyn must be pure plaid!
  4. J

    Are buyers coming up or are sellers coming down?

    A look a the # of price cuts suggests it's the sellers who are budging first....
  5. J

    Return of Aspirational Pricing ?

    Some great wisdom here :) “Despite fluctuations in market conditions, it appears the one constant to selling fast and at the highest price in Manhattan is pricing a property ‘right’ and meeting the market.”
  6. J

    Manhattan Contracts Soar, But Off-Market Remains Stubborn

    Interesting take! 2014 was a hot market getting hotter and while it emerged out of a recovery story similar to 2021, 2014 was defined by a lack of inventory. Mid-March 2014 saw ~3700 actives vs ~7000 today. So I'm not surprised that today's off market is higher: there is more on the market. If...
  7. J

    Commercial real estate will never be the same again ...

    Gotta think the bottom is in for malls. The recovery may not be vertical, but I would guess we've already seen the worst.
  8. J

    Top 5 Tells

    Ha - you're exactly right!
  9. J

    Brooklyn Agents: what does townhome price action feel like currently?

    A couple of quick thoughts: The Brooklyn market is firing on all cylinders right now. Buyers are paying premiums for renovations because post-covid they tend to take longer and cost more. With that in mind, I'm not surprised you're seeing some higher prices for turnkey, renovated units.
  10. J

    Spread Between Renovated vs Unrenovated Units

    Got some emails about why the renovated line is much smoother: low volume. There are just more renovated units on the market at any given time compared to unrenovated units.
  11. J

    Is Compass the next WeWork?

    Clelia Peters nails it: Compass Is Funded Like A Tech Company. Is It One, Though?
  12. J

    Are developers playing "chicken" with the market?

    Must be measured to the outside wall ...
  13. J

    No Peeking

    Can't put a number on a walkup penthouse! ;)
  14. J

    Spread Between Renovated vs Unrenovated Units

    Sneak peek of Monday's new report for our Pro Full subscribers: The spread between renovated and unrenovated units appears to be blowing out. With all the new logistical and hurdles imposed at most buildings, buyers appear to be actively repricing the work involved...
  15. J

    Upheaval For Agents

    Post-ipo Compass will be able to issue shares, so buying production will be even easier. So if you're Elliman, BHS, or Corcoran - how do you counter the combination of "newer-is-better" + $? Tough place to be...
  16. J

    Is the rental market going to crash?

    It's a fragile balance - actvity only increased because rents were low. A lot of landlords seem to be warehousing units at the moment. Perhaps not for better prices but for supply management. Only list what you can lease. Rents will likely remain low simply because there is a lot of supply...
  17. J

    Are developers playing "chicken" with the market?

    This was pretty clever, although it would be great if the inventiveness that made this possible could be turned to more mundane affairs like keeping the sidewalks and streets clean or figuring out how to handle garbage without stacking it up on the curb...
  18. J

    Is Compass the next WeWork?

    It will be fun while the chart looks like EXPI but what happens when it turns into RLGY?
  19. J

    New Dev 2021 & Beyond

    Noah and I had a great webinar on new development yesterday with Stephen Kliegerman, Shlomi Reuveni, and Ryan Schleis. The focus was viewer questions. While we got to a bunch, there were several we couldn't get to, so feel free to ask or comment here! If you missed the show, here's a link:
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