Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

“Physical Cliff” May Paralyze Manhattan Housing Market

Published : , on

The Marketing Directors Warns of Short Supply of New Homes in NYC in 2013

Six Month Supply Will Not Be Replenished Fast Enough to Meet Demand

NEW YORK, Jan. 7, 2013 /PRNewswire/ — Now that Congress has settled the “Fiscal Cliff” crisis, real estate developers in New York City might instead want to take a look at the looming “Physical Cliff” in the new condominium arena. So warns Adrienne Albert, founder and CEO of The Marketing Directors, a development advisory and master property marketing and sales force.

The new development supply and absorption numbers are tracked and analyzed in The Marketing Directors “New Product Supply” report that is provided exclusively to clients. The report tracks the number of current active listings (inventory), new listings, every property under development, listings under contract, absorption rates, and average number of closings per market per month.

http://www.ereleases.com/pic/TheMarketingDirectors-NewProductSupply.pdf

According to the report, there is only a six month supply of new condominium homes scheduled to meet the market in 2013. At 2012 absorption rates, there is not enough inventory to satisfy market demand, concluded Ms. Albert.

“There is a very limited supply of new homes coming to the market in the next year, and as existing inventory is absorbed, prices will increase,” she said. “We are advising our clients on ways to meet this market to achieve their pricing and absorption goals.”

The Marketing Directors report notes that some neighborhoods are closer to the “cliff” than others. The Upper West Side, with just 329 homes in inventory, with 53 new home listings and an absorption rate of 33.4% is likely to run out of supply in just five months. Midtown East, which has a larger inventory (473 homes, with 51 new listings) and a lower absorption rate (19.0%) has a nine-month supply of new homes for sale.

“We think our clients need to be aware of this looming ‘Physical Cliff’ as they plan developments that will bring new homes to the New York City market,” Ms. Albert said. “Demand will definitely outpace supply, and this will have a real impact on how developers approach the market – from site acquisition all the way through to pricing and sales.”

To get a one-page summary of The Marketing Directors’ New Product Supply report, please visit the company’s web site at:www.themarketingdirectors.com

About The Marketing Directors
The Marketing Directors is a development advisory and master property marketing and sales force that works exclusively on behalf of owners and builders of new homes. Headquartered in New York, with offices and sales teams active around North America, The Marketing Directors is known for its success in selling and leasing homes at prices that help its clients achieve their goals for each development. In its 30+ year history, The Marketing Directors has helped its clients successfully sell-out more than 1,000 new developments across the country – more than any other marketing firm. It is headed by founder Adrienne Albert and Jacqueline Urgo.

Contact: Great Ink – 212-741-2977
Roxanne Donovan/Jimmy Lappas/Lindsay Church

[email protected]/Jimmy@greatink.com/[email protected]

This press release was issued through eReleases® Press Release Distribution. For more information, visithttp://www.ereleases.com.

 

 

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post