We tried to hide from the market report mania yesterday, but against the onslaught, we are mere mortals. So, before opening the floor to your comments on the state of the NYC market as the New Year dawns, let's take stock of the market reports recently crossing our transom:
1) The Douglas Elliman market report, by way of Miller Samuel, spurred headlines a plenty, ranging from the careful (WSJ: "New York Condo, Co-op Sales Slow") to the terrifying (NYPost: "Apartments in Fast Fall") to the, uh, bubbleicious (NYDailyNews: "Manhattan apartment prices inch up.") Curbed's takeaway: The market is what you think it is. Resistance is futile.
2) A Post sidebar (apparently not online) featuring examples of PriceChopped apartments included our report of a pricechop at 70 Washington. Following that, we heard from the Mayor of Dumbo, David Walentas, who told us, "It's just not true." Hmmm. Curbed's takeaway: don't blame Two Trees for the flippers amongst us. Also: hi David!!
3) Among Elliman brokers Leonard Steinberg and Hervé Senequier's 2006 predictions for the Manhattan luxury market, in this month's edition of their Luxury Letter, there's this: "MEGA-LUXURY: We have warned of the coming of an entirely new level of luxury, and it has arrived. Highly advanced technology combined with hyper-refined aesthetics will re-define luxury and make it affordable to only those with extreme wealth." Curbed's takeaway: Jesus, has anyone told Balazs about this?
So, what does it all mean? We leave that for to you to tell us, and each other.
· Manhattan Q4 Market Report Chain Links [Matrix]
· Luxury Letter, January 2006 [LuxuryLoft.com]