The Real Deal Magazine is relentless in its coverage of the New York City real estate economy (and other markets), warts and all – one of those areas is getting a lot of attention lately is the new development market. We are seeing new types of selling techniques.
One of the significant issues is shadow inventory and the change in plans that many developers are forced to initiate/accept with the fall off in demand and increased difficulty in obtaining mortgages.
Here are a series of maps which shows the status of a number of new developments in New York City.
The federal government might be a good suitor – apparently they have no qualms about overpaying for assets.