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“L'immobilier géolocalisé efficace” |
Les ventes d'apartement à Manhattan au plus bas des 10 dernières années
Par scoubidou 
, le 7 janvier 2006
voilà les dernière news sur le marché de Manhattan, article encore en anglais...
Manhattan Apartment Sales Drop to a 10-Year Low as Rates Rise
2006-01-04 00:07 (New York)
By Kathleen M. Howley
Jan. 4 (Bloomberg) -- Apartment sales in Manhattan, the
priciest urban neighborhood in the U.S., toppled 27 percent to a
10-year low in the final three months of 2005 as rising mortgage
rates muted a four-year boom. The cooperatives and condominiums
that did sell generally went for higher prices as bonus-rich
Wall Street executives spent lavishly on luxury units.
The number of units sold fell to 1,574 from 2,161 a year
earlier, according to a report today by appraiser Miller Samuel
Inc. and brokerage Prudential Douglas Elliman. That's the fewest
since the second quarter of 1996, the end of a six-year slump
that cut values by 26 percent. The average sales price was $1.19
million, up 20 percent.
New Yorkers who marveled when the average price of all
apartments sold hit a record $1.32 million in June are now
talking about how far values may fall in the largest U.S. city,
says Paul Purcell, a partner at real estate consultants Braddock
& Purcell LLC in New York.
``Real estate comes before sex as the No. 1 topic at any
Manhattan cocktail party,'' Purcell says. Yesterday, he sold his
own one-bedroom apartment on the 41st floor of Olympic Tower on
Fifth Avenue for $1.7 million after cutting the asking price 8
percent in December. ``Now everyone is talking about prices
dropping.''
Prices of luxury apartments, the top 10 percent of
transactions, rose 13 percent from a year earlier to an average
$4.14 million, the third-highest ever, according to the report.
The gain came as sales dropped 21 percent to 157 units from 199.
``The driving engine in the fourth quarter of 2005 was the
sale of luxury condominiums,'' says Pamela Liebman, chief
executive officer of Corcoran Group, a Manhattan brokerage.
Bonuses
That engine was fueled by bonus money, with executives at
New York-based securities firms such as Morgan Stanley, Merrill
Lynch & Co. and Goldman Sachs Group Inc. getting the bulk of
their annual compensation at year's end based on their firms'
profits, says Jonathan Miller, president of Miller Samuel.
``The support we're seeing from bonus money probably will
last at least through the current quarter as more of those
transactions close,'' Miller, 44, says.
Earnings of people in finance, the city's highest-paid
workers, rose 8.1 percent to $85.9 billion from $79.5 billion in
2004 as securities firms reported the best year since 2000,
according to a Securities Industry Association estimate.
The average price per square foot of luxury units was
$1,610, 9 percent more than the third quarter and 18 percent
more than the year before. Luxury sales helped boost the average
price per square foot of the entire Manhattan market to $1,002,
the first time it exceeded $1,000, Miller says.
Longer to Sell
The time it took to sell an apartment increased 43 percent
from the year before to 137 days. The so-called discount, the
difference between listing and selling prices, was 2.5 percent,
compared with 1.5 percent a year earlier and 2.2 percent in the
third quarter.
The average price for a one-bedroom unit, 37 percent of the
sales in the quarter, was $694,601, a gain of 27 percent from
the final three months of 2004, Miller says. Two-bedroom
apartments, 39 percent of the market, gained 30 percent to $1.56
million. Three-bedroom units fell 9.2 percent to $2.79 million,
and four-bedroom apartments rose 15 percent to $6.75 million.
Units with three or more bedrooms were 6 percent of the
quarter's sales, Miller says.
Studios, 18 percent of transactions, had an average price
of $406,920, 23 percent above the year before.
Mortgage Payments
The mortgage bill for a Manhattan apartment that sold at
the fourth quarter's average price, after making a 10 percent
down payment of $119,000, would be $6,557 a month at 6.22
percent, last week's average U.S. rate for a 30-year fixed home
loan as measured by mortgage financier Freddie Mac. In July, the
rate was at a 14-month low of 5.53 percent, which would have
shaved $471 off the bill.
The mortgage payment would be $5,834 a month for buyers
using a 30-year loan that adjusts annually, at last week's 5.15
percent average U.S. rate. Buyers who financed their purchase a
year earlier, when the rate was at a 2005 low of 4.1 percent,
would have saved $671.
San Francisco is the second-most expensive U.S. city for
condominiums, with a median price of $699,000 in November,
according to DataQuick Information Systems, a real estate data
service based in San Diego. In the metropolitan Los Angeles
area, the median price was $407,000.
In Boston, November's median condominium price was
$395,000, according to Listing Information Network, a real
estate data company. The median price in metropolitan Chicago
was $208,000, according to the Illinois Association of Realtors.
--Editors: Edelman (cfw/scc).
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