condo vs co-op appreciation

Irene Sarri

New member
My buyer is asking this straight forward question: "condo appreciation vs co-op appreciation". Any data to educate myself and back up my answer would be highly appreciated it.
Iren Sarri
 

David Goldsmith

All Powerful Moderator
Staff member
This isn't really an answer to your question, but...

I suspect you're going to have to get more granular because certain subsections of the Coop market - like land lease buildings and those with high cash requirements without "cachet" - are seeing some non-insignificant price declines. Same too for the Condo market - look at the losses at the not-too-long-ago king-of-the-hill:
Ultra high-end New Dev is taking some beatings.

OTOH there seem to be "boring" middle class Coops which have shed little to no value (yet).
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
My buyer is asking this straight forward question: "condo appreciation vs co-op appreciation". Any data to educate myself and back up my answer would be highly appreciated it.
Iren Sarri
Ok so, few things:
1. Pricing trends will be whacky for late 2020 and early 2021 due to the low volume nature of our slowdown, which will lead to volatile pricing trends, especially when getting granular
2. Pricing trends are lagging, representing a market 4-6+ months ago when considering when that deal was signed. So its a rear view mirror look at the market
3. Condo is best represented in PPSF, coops do not have size data for the most part so Coops are best repr in Med Sales Price

If you want to compare them both together, try Med Sale price trend first, here is what that chart looks like - https://www.urbandigs.com/marketwide-charts/median-sale-price/all-manhattan/condo+coop/?agentid=58

1611585992954.png
 

Irene Sarri

New member
My buyer is asking this straight forward question: "ondo appreciation vs co-op appreciation". Any data to educate myself and back up my answer would be highly appreciated it.
Iren Sarri

Ok so, few things:
1. Pricing trends will be whacky for late 2020 and early 2021 due to the low volume nature of our slowdown, which will lead to volatile pricing trends, especially when getting granular
2. Pricing trends are lagging, representing a market 4-6+ months ago when considering when that deal was signed. So its a rear view mirror look at the market
3. Condo is best represented in PPSF, coops do not have size data for the most part so Coops are best repr in Med Sales Price

If you want to compare them both together, try Med Sale price trend first, here is what that chart looks like - https://www.urbandigs.com/marketwide-charts/median-sale-price/all-manhattan/condo+coop/?agentid=58

View attachment 165

Ok so, few things:
1. Pricing trends will be whacky for late 2020 and early 2021 due to the low volume nature of our slowdown, which will lead to volatile pricing trends, especially when getting granular
2. Pricing trends are lagging, representing a market 4-6+ months ago when considering when that deal was signed. So its a rear view mirror look at the market
3. Condo is best represented in PPSF, coops do not have size data for the most part so Coops are best repr in Med Sales Price

If you want to compare them both together, try Med Sale price trend first, here is what that chart looks like - https://www.urbandigs.com/marketwide-charts/median-sale-price/all-manhattan/condo+coop/?agentid=58

View attachment 165
Noah, I cannot thank you enough for taking the time to guide me. I will go ahead and tailor my search to client's criteria which is Lenox Hill, 1 bed and I will do is Lenox Hill, 1 bed condo vs Lenox Hill, 1 bed coop.
1)Do you advise go back from 2008 or the last three years?
@)How do I SHARE the report with the client. First, I would love to send to myself.
I am grateful for Talking Manhattan series as the news shared has enabled me to bring my work to another level. Now, I need to start using the charts! Again, thank you for taking the time to respond and guide me.
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
Noah, I cannot thank you enough for taking the time to guide me. I will go ahead and tailor my search to client's criteria which is Lenox Hill, 1 bed and I will do is Lenox Hill, 1 bed condo vs Lenox Hill, 1 bed coop.
1)Do you advise go back from 2008 or the last three years?
@)How do I SHARE the report with the client. First, I would love to send to myself.
I am grateful for Talking Manhattan series as the news shared has enabled me to bring my work to another level. Now, I need to start using the charts! Again, thank you for taking the time to respond and guide me.
Love hearing it Irene and your very welcome. A few answers

1. I would do both. Its nice to see a historical where are we now chart and at the same time, the 3yr is a good indication of relative pulse/demand that we are all feeling in the streets lately

2. We have a Contacts icon at the top of UD where you can add Clients - I would let them know first its coming. Your fully protected with clients you add. We then have a Share This tool on every report, next to the Export PDF feature. It looks like this and when pressed, shows all clients you added to the system for sharing reports. This way, all reports are saved in your REPORTS section

1611601001847.png
 

Mark

Member
@Irene Sarri -- what was the simple verdict for your client's submarket (Lenox Hill, 1 bedrooms)? And how did the info affect your client's behavior? This was a really fun thread to read through.
 

Irene Sarri

New member
Thank you for raising the question. I am sure my buyer appreciated the reports that I was able to create with the UrbanDigs Charts as he loves numbers and evidence. The 10 year comparison of condo vs co-op appreciation was of a historical value and the 3 year was more indicative of the pulse of the market. Grateful to Noah for his guidance today and thankful to UrbanDigs for constantly educating the brokerage world.
 
Noah, I cannot thank you enough for taking the time to guide me. I will go ahead and tailor my search to client's criteria which is Lenox Hill, 1 bed and I will do is Lenox Hill, 1 bed condo vs Lenox Hill, 1 bed coop.
1)Do you advise go back from 2008 or the last three years?
@)How do I SHARE the report with the client. First, I would love to send to myself.
I am grateful for Talking Manhattan series as the news shared has enabled me to bring my work to another level. Now, I need to start using the charts! Again, thank you for taking the time to respond and guide me.
Great thread. I am never disappointed by the dialogue in this forum or Talking Manhattan.
 
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