It Happened One Weekend: All Hell Breaks Loose Edition - NBC New York

It Happened One Weekend: All Hell Breaks Loose Edition

    processing...

    NEWSLETTERS

    It Happened One Weekend: All Hell Breaks Loose Edition

    1) Brokers, analysts and the occasional Curbed celebrity (Jonathan Miller, we're looking at you!) reminisce about the NYCreal estate collapse of the early '90s, and then cross their fingers and explain why that won't happen again. [Big Deal/'Main Street Pauses']

    2)Harlem, oy. Josh Barbanel reports that "well-finished apartments in good locations continue to sell so far, brokers say," but condo inventory is piling up, townhouses and brownstones are (egads!) listed at losses and some projects—such as the forever troubled Lenox Grand (right)—seem screwed. A "flattening out" of the Harlem market, as some suggest, or is this something more? [Big Deal/'Harlem Holds On']

    3) What will these troubled times mean for Jersey City, where thousands of condos are coming to market in a series of huge new developments? Its a little tough to say right now, but the 55-story Trump Plaza Jersey City has sold less than half of its 440 units, despite the presence of a rainforest simulator. [In the Region/'Meltdown Ripples Across Hudson']

    4) At least the trophy property market is immune, right? Well, the $50 million Pierre duplex that's been listed for about a year is currently tangled up in a legal fight amongst the incapacitated owner's heirs and consorts. According to one affidavit in the case, "We understand that the market for very high-end apartments thus far has been largely unaffected by the downturn in the real estate market. It is not at all clear how long that will continue." [Big Deal/'A Royal Ruckus']

    5) One industry not feeling the hurt in these topsy-turvy times is that of the credit coach. With mortgages getting harder and harder to get, buyers are hiring these credit experts to get their FICO scores up in a hurry. Hmm...wonder if they take credit cards? ['For Buyers, Many Roadblocks']