Is the record flow of Wall Street bonus money impacting the Manhattan real estate market? Miller Samuel market savant Jonathan Miller notes an uptick so far this month, but can't yet say: "We are seeing an elevated level of sales activity across the board, not just at the high end. Its not clear if this is a short term blip or not."
Of course, uncertainty isn't stopping at least one unidentified NYC brokerage from marketing to the newly moneyed class. A Curbed tipster reports from bonusland:
Maybe its a sign of desperation and I did not stop to find out the company name, but brokers are a' hawkin on Wall Street. They are out in front of 11 Madison hawking to Credit Suisse employees with flyers and a speech: "five reasons to buy an apartment." Guess they know more about when the bonuses are paid than we do. Do you think they are out in front of Morgan Stanley too?Points for resourcefulness! Anyone catch the company name, or grab a flyer? Do share. And Wall Streeters among us (we're looking at you, gs.com domain visitors), how much of your bonus money is heading to the real estate sector?
· Its No Secret, But Now Its Official: Wall Street Bonus Money Sets Record [Matrix]