Brick Underground

“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.

UrbanDigs’ latest report looks at price reductions and contracts signed by neighborhood, price range, and bedroom since March 22, when New York’s shutdown order went into effect.

Noise complaints to NYC's 311 were up in all five boroughs, and show a significant daytime increase, indicating that New Yorkers are home during work hours, in compliance with the state's stay-at-home order.