Brick Underground

Bolster, a design-build firm, discusses how the novel coronavirus (Covid-19) pandemic could effect NYC homeowners who are in the process or planning a renovation.

A new report from UrbanDigs, a Manhattan real estate analytics platform, notes an increase in listings comes after five weeks of sharp declines.

“Some of the issues buildings may need to consider in the current crisis would be premises liabilities, like warning the building community about a resident’s Covid-19 exposure, or where one or more shareholders did not pay their common charges due to financial hardship,” says Ian Brandt, a partner at the Manhattan real estate law firm Wagner, Berkow & Brandt.

Inventory dropped to a record low for Long Island, and fell significantly for the other two markets, according to Douglas Elliman’s first quarter market report.

New listings are down 78 percent for the third week of April compared to the same week a year ago, according to UrbanDigs' weekly report on total new listings, contracts signed, and listings being taken off the market for Manhattan.

The number of new listings is falling at a faster pace than new deals, according to UrbanDigs' weekly report on total new listings, contracts signed, and off-market listings for Manhattan for the second week of April compared to the year-ago week.