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  1. David Goldsmith

    Big Tech Falls Short On Housing Promises

    https://therealdeal.com/2022/01/07/tech-firms-housing-pledges-come-up-short/ Tech firms’ housing pledges coming up short Two years after vowing to build tens of thousands of new homes, Apple, Google and Meta have made little progress so far Two years after Apple, Google, and Meta vowed to...
  2. David Goldsmith

    1990s Style Sponsor Issues Return To Coops

    In the 1990s many Coops were plagued by Sponsor issues as overleveraged developers defaulted on obligations and left Coops holding the bag. As some developers are cracking (HFZ, All Year, etc) we start to see the ramifications as the Coops they converted are feeling the pinch...
  3. David Goldsmith

    Changing Horses Midstream

    New development condominium projects changing their marketing teams isn't big news. Some projects are on their 3rd teams. But changing the name of the project is much more rare. The others escape me, but from memory this is at least the second time a project has changed it's name when the...
  4. David Goldsmith

    Private Island Easily Commutable From Manhattan

    In a somewhat know gated community in New Rochelle. https://nypost.com/2022/01/17/escape-nyc-with-your-very-own-private-island-30-minutes-away/ Escape from NYC with your very own private island, just 30 minutes away The Mediterranean-style estate is listed for $4.9 million.realtor.com You can...
  5. David Goldsmith

    1760 Acres More For Manhattan

    This is an interesting proposal which could potentially solve multiple problems at once. I wish the financial figures were better/more fleshed out https://www.nytimes.com/2022/01/14/opinion/eric-adams-manhattan-expand.html 1,760 Acres. That’s How Much More of Manhattan We Need. Mr. Barr is the...
  6. David Goldsmith

    Where Is Everybody

    NYC has been unexpectedly lifeless this week. Where is everyone? https://fb.watch/awSMm8dqXD/
  7. David Goldsmith

    Predictions For 2022 Sales Market

    https://therealdeal.com/2021/12/29/nyc-home-sales-slowdown-coming-in-2022-brown-harris-stevens-ceo-says/ NYC home sales slowdown coming in 2022, Brown Harris Stevens CEO says Bess Freedman cited higher interest rates, diminishing supply After 2021 marked a banner year for housing markets...
  8. David Goldsmith

    Rate Hikes For 2022?

    To fight inflation Fed Chair Jerome Powell has announced tapering asset purchases and potential rate hikes. Last time this was tried "taper tantrums" in the market quickly put an end to it. How many rate hikes will we actually see in 2022?
  9. David Goldsmith

    Mayor Elect Adams Taps Nassau Chief of Detectives as First Female NYC Police Commissioner

    Adams breaks recent tradition and goes outside NYPD for top role. Speculation is that he wants more control coming from City Hall over department decisions...
  10. David Goldsmith

    Can NYCHA Be Saved?

    Things got so bad at NYCHA that a Federal monitor was appointed for oversight. There have been moves to bring in various private entities through programs like RAD (Rental Assistance Demonstration). Now The Related Companies is taking its shot...
  11. David Goldsmith

    Virtual Real Estate

    I confess that at this point it still looks to me like some large scale scam, but perhaps someone will explain it here in some meaningful way. https://therealdeal.com/2021/12/01/virtual-real-estate-speculators-notch-another-record-deal/ Virtual real estate speculators notch another record deal...
  12. David Goldsmith

    Housing Bubble?

    This thread is dedicated to articles on both sides of the argument about housing bubbles. https://www.zerohedge.com/markets/upshots-new-housing-bubble-fiasco The Upshots Of The New Housing Bubble Fiasco , House Prices Go Vertical The epic housing bubble and bust in the mid-to-late-2000s was...
  13. David Goldsmith

    Bonus Season and the NYC Market

    Historically the New York City Real Estate Market starts to gain steam earlier than the Spring season in the rest of the country because there is a big push from several industries (Wall Street, Big Law, etc) where a significant portion of annual compensation is year end bonuses. From everything...
  14. David Goldsmith

    Spike in "budget" West Village townhouse sales

    I just saw an announcement that 34 Barrow St is in contract. https://streeteasy.com/sale/1553415 It seemed to me we have seen a number of sub $6 million townhouses in the area sold this year. It looks like this makes the 8th such sale this year: 79 Christopher St...
  15. David Goldsmith

    Investors smash record with 18% of home purchases

    A lot has been made recently on both sides of the "Wall Street buying up SFR" argument. One side says that hedge funds still represent less than one percent. But they aren't then only investors. Whether good or bad, there seems little question that the percentage of homes being bought by...
  16. David Goldsmith

    Are Foreign Buyers Returning?

    The country has just opened back up and from all reports we are about to experience a giant wave of pent up COVID demand for trips to NYC and elsewhere throughout the US. But as buyers of NYC properties we had seen a huge dip in foreign buying well before the pandemic halted travel. What level...
  17. David Goldsmith

    Appraisals Falling Short

    https://www-wsj-com.cdn.ampproject.org/c/s/www.wsj.com/amp/articles/soaring-home-prices-are-roiling-appraisals-and-upending-sales-11633858381 Soaring Home Prices Are Roiling Appraisals and Upending Sales More properties are being valued below their agreed-upon sales prices, causing deals to...
  18. David Goldsmith

    Making Dining Sheds Permanent - What Could Go Wrong?

    https://www.nytimes.com/2021/09/20/nyregion/making-streetside-dining-permanent.html Making Streetside Dining Permanent The coronavirus pandemic moved New York City’s restaurants onto the sidewalks and into the streets. Now the city is moving to make a variation of its Open Restaurants program...
  19. David Goldsmith

    Expected vs Unexpected Inventory Change Post Labor Day

    I think most people expected this week to be big for new listings with people coming back from Summer and the Fall selling season kicking off. But did anyone expect this to be an even bigger week for units being taken off the market?
  20. David Goldsmith

    A Lesson From Tokyo

    For a while I have been warning about dates infrastructure in NYC. Overnight we saw one of the possible consequences in the mass flooding throughout the city. Tokyo has suffered flooding episodes for a long time and has undertaken projects to remediate...
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