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It's been no secret that super luxury Manhattan sales have been the hardest hit segment of the market since 2014. The slowdown is related to the oversupply of new development created from the vast amounts of capital looking for a home since the financial crisis. Perhaps the most famous representation of the super-luxury market has been "Billionaires Row" centered on 57th Street in the heart of Manhattan's central business district in Midtown Manhattan.
When a family member passes away, his or her relatives can be overwhelmed quickly. Not only are they grieving, but they must also take care of the legal obligations and paperwork necessary to settle the deceased’s estate. And because real estate properties are usually the most significant financial asset of the deceased, establishing their fair market value is a priority.
When going through the process of a divorce, you need a well-supported, expert appraisal that will stand up in court. We work with attorneys to ease the process and get the appraisal documents completed in a timely manner. In many cases a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of the divorce. We have the expertise and professionalism to work with everyone involved and are ready to assist with your needs.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Moving may top the list of stressful experiences that can feel like a bad dream - one that can easily come true unless you take precautionary measures. Problems can occur at every stage of the relocation process, but the most common moving nightmares fall into three categories. Here’s how they typically play out - and how to avoid them. Poor organization.
Ever see the AT&T commercial where the surgeon walks in and he says ” I Just got reinstated, Nervous? Thats ok so am I “ If not see here: [link]. Or the late 1986 commercial with Peter Bergman that states ” I’m not really a doctor but I play one on TV” If not see here [link]. Well get ready Consumers because the person that is about to visit your home IS NOT an appraiser or just pretends to play one without the proper training.
Ever see the AT&T commercial where the surgeon walks in and he says ” I Just got reinstated, Nervous? Thats ok so am I “ If not see here: [link]. Or the late 1986 commercial with Peter Bergman that states ” I’m not really a doctor but I play one on TV” If not see here [link]. Well get ready Consumers because the person that is about to visit your home IS NOT an appraiser or just pretends to play one without the proper training.
Michael Kolomatsky of the Calculator column in the New York Times real estate section crafted a cool infographic for this weekend using data from the Douglas Elliman 's Hamptons Sales report that I author. The gist of it is that sellers are slowly pricing closer to market causing days on market and the listing discount to compress somewhat. This faster moving pattern is in sharp contrast to sliding price trends, declining sales, and rising inventory.
Real estate brokerage firm Cushman & Wakefield wrote a research piece on the prime Fifth Avenue retail corridor from 49th Street to 60th Street that was covered in a widely read Wall Street Journal article called Fifth Avenue Losing Luster as Vacancies Climb, Rents Fall. The following chart was in the WSJ article. Luxury real estate here peaked at about the same time.
There is a cool graphic from the New York Times Calculator column by Michael Kolomatsky in this Sunday's print edition of the Real Estate section that illustrates Manhattan's dependence on high-end real estate. Using the data from a chart I began right after 9/11 and we continue to update, he illustrates this point: Almost half the money spent by New York City home buyers in the first quarter of 2019 went toward the most expensive properties.
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