Brick Underground

So far, there have been 1,271 contracts signed in Manhattan as of March 26—nearly double the amount in March 2020. Manhattan has already seen more deals than any other March since 2007, when 1,624 contracts were signed, according to a new report from UrbanDigs.

The plans and specifications should be drawn up by an architect and break down the proposed work according to the different elements, such as demolition, roof repair, lintel replacement or facade work.

Here at Brick Underground we love answering your New York City real estate questions and in this episode of the podcast we do exactly that. 

Lease signings have been rising for five consecutive months to record highs, according to the Elliman Report for Manhattan, Brooklyn, and Queens rentals. Last month saw an increase of 112.4 percent in new leases compared to February 2020.

Inaccurate property tax valuations give the least expensive residential properties in New York City an effective tax rate that is three times higher than the most expensive homes, according to a new article from Bloomberg.

Manhattan trailed the region in contract activity since the summer, the report says, but appears to be catching up in the new year. The increase in signed contracts was strongest for co-ops—there were 601 new signed contracts last month, compared to 321 in February 2020.