Citi Habitats NY Real Estate News

Rent City

Fri, 19 Mar 2010 12:01:01 EST

Rent City

Fri, 19 Mar 2010 12:01:01 EST

Rent City

Fri, 19 Mar 2010 12:01:01 EST

In The Papers

Fri, 19 Mar 2010 12:01:01 EST

Host Pat Kiernan discusses an article about Citi Habitats which appeared in that morning's New York Daily News. This clip ran on March 19, 2010.

Apartment Vacancy Starting to Tighten

Wed, 17 Mar 2010 12:01:01 EST

Party's Winding Down Renters!

Tue, 16 Mar 2010 12:01:01 EST

Party's Winding Down Renters!

Manhattan rents rise in Feb. (more ...)

Residential rents inch up from earlier in year, but drop from last year: Citi Habitats

Mon, 15 Mar 2010 12:01:01 EST

Residential rents inch up from earlier in year, but drop from last year: Citi Habitats

By Candice Taylor

The Real Deal

Just Sold!

Thu, 11 Mar 2010 12:01:01 EST

Just Sold!

The latest info about recent sales - in your back yard and beyond

EAST VILLAGE $680,000 (more ...)

Favorite Things - Massage Makes It All Better

Thu, 11 Mar 2010 12:01:01 EST

Rents Continue Their Slow Climb As Vacancy Rates Fall

Thu, 11 Mar 2010 12:01:01 EST

Rents Continue Their Slow Climb As Vacancy Rates Fall

Citi Habitats Report Finds 10,355 Apartments Were Available for Rent in February '10

Better Off Unwed

By Julie Satow

The New York Post

March 11, 2010

Rajni Narasi and John Cryan had spent a blissful year together and were growing more confident with every passing day that "this could be it. (more ...)

Favorite Things - Massage Makes It All Better

Wed, 10 Mar 2010 12:01:01 EST

Gary Malin - On the State of the Rental Market

Wed, 10 Mar 2010 12:01:01 EST

Gary Malin, President of Citi Habitats, speaks to ABC 7's Sade Baderinwa regarding the state of the NYC rental market. This segment aired on the 5:30 PM newscast on March 10, 2010.

New Listings

Wed, 10 Mar 2010 12:01:01 EST

New Listings

Wed, 10 Mar 2010 12:01:01 EST

Designing Woman

Wed, 10 Mar 2010 12:01:01 EST

Doormen Get Ready to Rumble

Sun, 07 Mar 2010 12:01:01 EST

Doormen Get Ready to Rumble

By Daniel Massey

Crain's New York

March 7, 2010

Against the backdrop of a sputtering economy, and with a new chief nego (more ...)

Really Different Digs

Thu, 04 Mar 2010 12:01:01 EST

Just Sold!

Thu, 04 Mar 2010 12:01:01 EST

Stealing Deals Before It's Too Late

Thu, 04 Mar 2010 12:01:01 EST

Really Different Digs

Thu, 04 Mar 2010 12:01:01 EST

Really Different Digs

Thu, 04 Mar 2010 12:01:01 EST

Slew of New Rentals Coming to Market

Tue, 02 Mar 2010 12:01:01 EST

Slew of New Rentals Coming to Market

By Candace Taylor

The Real Deal

On the Market:

212 Bennett Condominiums Hit the Market, Buyers Respond

By Daniel P. Bader

Balancing Budgets With Extras

Co-op and condo boards rent roof decks, build storage spaces to keep monthly charges in line

By Vanessa Weiman

The Real Deal

March 01, 2010

(more ...)

The End of Free Lunches?

Mon, 01 Mar 2010 12:01:01 EST

The Real Deal - March Market Story

The End of Free Lunches?

By Candice Taylor

The Real Deal

March 1, 2010

Wed, 24 Feb 2010 12:01:01 EST

The Gallery - "Citi Habitats 2009 Awards Ceremony"

Wed, 24 Feb 2010 12:01:01 EST

The Gallery - "Citi Habitats 2009 Awards Ceremony"

Wed, 24 Feb 2010 12:01:01 EST

The Gallery - "Citi Habitats 2009 Awards Ceremony"

Wed, 24 Feb 2010 12:01:01 EST

The Gallery - "Citi Habitats 2009 Awards Ceremony"

Wed, 24 Feb 2010 12:01:01 EST

The Gallery - "Citi Habitats 2009 Awards Ceremony"

Wed, 24 Feb 2010 12:01:01 EST

Affordable Living for Post-Post Grads

Wed, 24 Feb 2010 12:01:01 EST

Affordable Living for Post-Post Grads

By Shira Levine

Manhattan Real Estate Agent Reveals the City's Market Secrets

Interview by Armen Hareyan

Huliq. (more ...)

Favorite Things - Designer Dudes

Wed, 24 Feb 2010 12:01:01 EST

Favorite Things - Designer Dudes

Wed, 24 Feb 2010 12:01:01 EST

Favorite Things - Designer Dudes

Wed, 24 Feb 2010 12:01:01 EST

Ratner Kicks Off Citi Awards Ceremony

Thu, 18 Feb 2010 12:01:01 EST

Ratner Kicks Off Citi Awards Ceremony

The Real Deal

February 18, 2010

Citi Habitats held its 2009 company awards ceremony this week, honoring its top-producing employees, with a keynote address provided by Atlantic Yards developer Bruce Ratner (see additional photos from the ceremony below). Ratner Kicks Off Citi Awards Ceremony

The Real Deal

February 18, 2010

The Real Deal

February 18, 2010

By Coryn Brown

February 18, 2010

Paying rent in the West Village can be a cash-hemorrhaging experience, and this Ratner Kicks Off Citi Awards Ceremony

The Real Deal

February 18, 2010

Columbus Square Arrives

Mon, 01 Feb 2010 12:01:01 EST

It's away from the heart of the Upper West Side. Its rents are up to 30 percent higher than the competition's. And its shops more closely resemble strip-mall offerings than what's typically found on city blocks.

But Columbus Square, a mega mixed-use complex that spans six blocks from West 97th to 100th streets between Amsterdam and Columbus avenues, is posting enviable rental and retail numbers in a down market, according to brokers familiar with the project and the neighborhood. (more ...)

2010: The Year of the Renter?

Thu, 21 Jan 2010 12:01:01 EST

SCORES of stalled construction projects can be found scattered around New York City, but one category of building that doesn't seem to have been sidetracked by the recession is the luxury apartment rental.

At least 16 new rental buildings are expected to open in Manhattan in coming months, ranging from small buildings to 500-unit high-rises, for a total of more than 3,500 apartments. Brooklyn will get an additional 3,500 new apartments as well, including units in some buildings that opened in late 2009.

While 7,000 new apartments is a relatively small number for a city where 70 percent of 8 million residents live in rentals, many of the new buildings are concentrated in just three neighborhoods: Manhattan's Hudson Yards area, downtown Brooklyn and Williamsburg. (more ...)

Awesome Digs For Bankers To Spend Their Bonus Bucks On

Wed, 20 Jan 2010 12:01:01 EST

Bankers are flush again.

Wall Street is set to pay an estimated $64.2 billion in bonuses this year, up from $57 billion in 2009, according to a recent analysis by New York State.

So what to do with all the moolah?

The classic answer is: New York City luxury real estate.

It's still a buyers' market, and there are plenty of stunning new developments in or near Manhattan that promise not only exceptional living but a potentially lucrative investment. Heck, you might even be neighbors with Goldman Sachs CEO Lloyd Blankfein or ex-Citi leader Sandy Weill (see a certain Central Park West address, pictured here).

"There is an opportunity now because prices are still depressed," says Jay Molishever, a VP and broker with Citi Habitats, noting that the New York City market is off 15% to 25% and demand is strong relative to residential listings. "It's a very interesting arbitrage to play... (more ...)

Upper East Side Apartments Get Cheaper

Mon, 18 Jan 2010 12:01:01 EST

Manhattan Apartment Rents Drop 9.4% as City Job Losses Mount

Thu, 14 Jan 2010 12:01:01 EST

Jan. 14 (Bloomberg) - Manhattan apartment rents dropped 9.4 percent in the fourth quarter of 2009 from a year earlier as Wall Street jobs vanished in the recession.

The median rent fell for all apartment sizes except two- bedrooms, which were little changed, according to a report today by broker Prudential Douglas Elliman Real Estate and appraiser Miller Samuel Inc. A separate tally by broker Citi-Habitats Inc. showed the average apartment price declined 7.3 percent for the year. The company didn't report medians.

New York City lost 25,200 finance jobs in the 12 months ended Nov. 30 and the unemployment rate climbed to 10 percent, curbing tenants' appetite for bigger and more expensive apartments. Joblessness also forced landlords across the U.S. to cut prices as the nationwide vacancy rate reached a record 8 percent in the fourth quarter, New York-based research firm Reis Inc. said Jan. 7. (more ...)

Manhattan rental deals up in 4Q: reports

Thu, 14 Jan 2010 12:01:01 EST

Manhattan rental transactions surged in the fourth quarter of 2009, according to market reports released by two large city brokerages today (see full reports below).

A marketwide report released by Prudential Douglas Elliman estimated that the number of rental deals in Manhattan leaped 47.6 percent to 2,456 in the fourth quarter, from 1,665 in the same period of 2008. Citi Habitats, the city's largest rental brokerage, said it did more than 2,600 transactions in the fourth quarter, an increase of 30 percent from roughly 1,800 in the prior-year-quarter.

(In a market where rental data is notoriously difficult to obtain, firms use different data to compile their reports.) Moreover, listing inventory dropped 21 percent to 5,255 units, from 6,640 during the fourth quarter of 2008, according to the Elliman report, which was prepared by appraiser Jonathan Miller, president and CEO of real estate appraisal firm Miller Samuel. (more ...)

News eblast-Average Manhattan rents dropped 4% last year

Thu, 14 Jan 2010 12:01:01 EST

News eblast-Average Manhattan rents dropped 4% last year

Audio Clip: Joe Connolly- Wall Street Journal

Thu, 14 Jan 2010 12:01:01 EST

Audio Clip: Joe Connolly- Wall Street Journal cites CitiHabitats 4Q Rental Report

Manhattan apartment rents and vacancies off in '09

Wed, 13 Jan 2010 12:01:01 EST

NEW YORK, Jan 13 (Reuters) - Vacancy rates for apartments in New York City's borough of Manhattan, the largest U.S. apartment market, declined in 2009, as lower rents and better landlord incentives attracted tenants, according to a quarterly brokerage report.

Average Manhattan rents fell about 7 percent last year from 2008. And when incentives like a free month's rent are factored in, effective prices were down as much as 14 percent, said the report by CitiHabitats, a residential New York City broker that closed on about 13,000 rental deals during the year.

Large apartment landlords such as Equity Residential (EQR.N), AvalonBay Communities Inc (AVB.N), Essex Property Trust Inc (ESS.N), UDR Inc (UDR.N) and Post Properties Inc (PPS.N) have reduced rents and offered perks to retain and attract tenants.

The average Manhattan rent for a studio apartment was $1,800 in the fourth quarter of 2009. (more ...)

Corcoran joins Web sales push

Wed, 13 Jan 2010 12:01:01 EST

The Corcoran Group, one of the city's largest residential brokerages, has decided to add its exclusive listings to ResidentialNYC.com, a free real estate Web site operated by industry trade organization The Real Estate Board of New York. In addition, the city's largest rental brokerage, CitiHabitats, also a Corcoran subsidiary, has agreed to add its listings to the site.

The decision, announced Wednesday, comes two and a half years after ResidentialNYC.com launched. Adding Corcoran's listings to the site will double the number of listings that are publicly viewable, bringing the total to 10,000 properties, according to REBNY. Currently, the site represents about 75% of all the property listings in the city, according to Steven Spinola, REBNY's president.

"It's always beneficial to be exposed in as many different areas as possible," said Gary Malin, president of CitiHabitats, noting that the firm waited to see how ResidentialNYC. (more ...)

Corcoran joins REBNY listings site

Wed, 13 Jan 2010 12:01:01 EST

Listing Web site Residential NYC has doubled its listings with the Corcoran Group joining its ranks.

The site, operated by the Real Estate Board of New York, will now maintain an average of 10,000 property listings at any given time, said Steven Spinola, president of REBNY. Corcoran rental subsidiary Citi Habitats, he added, will also add its listings to the site.

Residential NYC allows brokers to display their New York rental and sales listings. All participating firms are REBNY members.

Spinola said that the site's more than two years on the scene has convinced many firms to join in recent months. The site, which launched September 2007, has drawn in hundreds of brokers.

"We've demonstrated that Residential NYC was in it for the long haul," Spinola told The Real Deal. He estimated that approximately 75 percent of sales listings in New York City are now on the site. (more ...)

NYC's Narrowest House Now a $10,000/Month Rental

Wed, 13 Jan 2010 12:01:01 EST

NYC's Narrowest House Now a $10,000/Month Rental

Manhattan apartment rents and vacancies off in '09

Tue, 12 Jan 2010 12:01:01 EST

NEW YORK (Reuters) - Vacancy rates for apartments in New York City's borough of Manhattan, the largest U.S. apartment market, declined in 2009, as lower rents and better landlord incentives attracted tenants, according to a quarterly brokerage report.

Average Manhattan rents fell about 7 percent last year from 2008. And when incentives like a free month's rent are factored in, effective prices were down as much as 14 percent, said the report by CitiHabitats, a residential New York City broker that closed on about 13,000 rental deals during the year.

Large apartment landlords such as Equity Residential, AvalonBay Communities Inc, Essex Property Trust Inc, UDR Inc and Post Properties Inc have reduced rents and offered perks to retain and attract tenants.

The average Manhattan rent for a studio apartment was $1,800 in the fourth quarter of 2009. (more ...)

The Closer

Fri, 08 Jan 2010 12:01:01 EST

Brokers say that despite their popularity, net effective rents are something of a gamble for landlords: Lower the initial sticker prices, fill apartments and pray that the market rebounds and tenants stay after their lease expires. (more ...)

Binn Shot

Fri, 01 Jan 2010 12:01:01 EST

Binn Shot

Ranking the top rentals

Fri, 01 Jan 2010 12:01:01 EST

Ranking the top rentals

A look at the most expensive apartment leases on the market in Manhattan
January 01, 2010 By Candace Taylor

It's no secret that many top-notch New York City sales brokers took on pricey rentals last year because high-end apartments were slow to sell. (more ...)

In the Loftiest of Buildings, High Art Still Finds a Home

Tue, 29 Dec 2009 12:01:01 EST

SQUARE FEET
In the Loftiest of Buildings, High Art Still Finds a Home

A 29-foot-long playground sculpture by Tom Otterness in a new park adjacent to two apartment developments on West 42nd Street.
December 29, 2009

By JANE L. LEVERE

The practice of adorning New York real estate with major sculptures and other artwork stretches back at least as far as the 1930s. And even during today's tough economic times, the tradition is holding up. A number of major works of art have been installed in Midtown Manhattan in the last few months.
In October, for example, the Cohen Brothers Realty Corporation hung a 5,000-pound rotating sculpture from the ceiling of the atrium of 805 Third Avenue. On the other side of Manhattan, Silverstein Properties has bought a 29-foot-long playground sculpture by Tom Otterness for a new park adjacent to two of its apartment developments on West 42nd Street. (more ...)

Riverside Drive Condos Receive Approval of Fannie Mae

Tue, 29 Dec 2009 12:01:01 EST

Riverside Drive Condos Receive Approval of Fannie Mae

By Daniel P. (more ...)

Residential Sales Around the Region

Sun, 27 Dec 2009 12:01:01 EST

Residential Sales Around the Region

Partying through the downturn

Thu, 24 Dec 2009 12:01:01 EST

Partying through the downturn

In bad market, brokerages find party-planning a fraught issue, but they still celebrate

Happy--with a Chance of Satisfaction?

I was browsing through some more apartments on citi-habitats.com this morning when I came across something nearly indescribable. Yes, I find many of the apartments lovely, but what I came across wasn't really a tangible thing; it was a feeling.

As I clicked through the pictures of tiny, cheap Manhattan studios, I was overcome by a very complicated feeling. To start, I was happy--I was overjoyed to see how cute some of the lower-priced apartments where. I was happy because I knew I would be there someday. However, I was also filled with longing. I sat at my work desk surrounded by files and paperwork and could not think of anywhere I wanted to be less. (more ...)

Happy--with a Chance of Satisfaction?

Sun, 20 Dec 2009 12:01:01 EST

Made For Manhattan Happy--with a Chance of Satisfaction?

Who will you give to this holiday season?

Wed, 16 Dec 2009 12:01:01 EST