Understanding the New Condo Development Market 2019 - a podcast by Vince Rocco

We came out of 2018 in reset mode for NYC sales including new condo development sales. The pace of sales has already slowed this year with homes spending more time on market prior to going into contract.
More than 20,000 new apartments in New York, both for sale and for rent, will open their doors this year and likely just a fraction will find residents by year end.Sharp pricing and developer incentives seem to be the only way to get these units in contract.
Also at this Hour: Hudson Yards has entered the list of most expensive NYC neighborhoods with a median sales price of $3.86 million. Tribeca remains the priciest neighborhood with a median sales price of $4.34 million, but Hudson Yards, the new luxury neighborhood on Manhattan's Far West Side, which opened in March this year, comes in a close second.
Other neighborhoods that saw median price increases included Little Italy, Cobble Hill and Prospect Park South, where prices more than doubled year over year.

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