Thunder Bay's second condo
development, Boulevard Park Place, is a joint effort of Robert Zanette and A.
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inventory helped sellers get a greater share of their initial asking price as buyers competed for an even smaller pool of available units.
Still, Rosenblatt and others cautioned that the increased number of condo
fee defaults could be just a temporary blip and should not be used to gauge the overall health of New York City real estate.
In June alone, the number of condos
put on sale in the metropolitan area rose 20.
supply in the form of conversions and new construction carries two types of supply risk:
In the West, existing condo
and co-op sales declined 2.
3 percent from December, representing 310 condos
that went into contract last month.
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The worst increase I've seen has upped a condo
budget about 15 percent," he said of a building on the Upper West Side.
The proposed ordinances would cap condo
conversions at 734 units per year.
Companies are likely to continue to unload their landholdings in the metropolitan area, so we expect new condo
offerings in 2005 to remain at high levels'' with the condo
builders expected to buy the released land, an institute analyst said.