“Unless land prices come down,” said HPDM President Stephen Kliegerman, “expect the trend to continue to lean towards condo development in the future.”
“This is a healthy sign for the market as sellers need to come back down to reality,” said Robin Schneiderman, director of business development at Halstead Property Development Marketing
These days, about 75% of parents investing in apartments for their children are domestic buyers, and 25% are foreign, said Stephen Kliegerman, president of Halstead Property Development Marketing.
Stephen G. Kliegerman, president of Halstead Property Development Marketing, said his research showed that the overall numbers of new-development contracts were up, despite the lull in closings.
The report also shows a “solidification of the marketplace in Brooklyn,” Stephen Kliegerman, president of Halstead Property Development Marketing, told The Real Deal during a phone interview Tuesday.
To stand out, developers are focusing on architecture, interior design and craftsmanship. “Everybody is designing to a very high level,” saidStephen G. Kliegerman, the president of Terra Development Marketing, “which I think is much different than what we saw pre-2008, where developers were kind of building to what they believed their marketplace was, instead of building to attract new buyers to their marketplace.” Terra Development Marketing advises Halstead Property and Brown Harris Stevens.
Read More: http://www.nytimes.com/2015/01/04/realestate/year-of-the-condo-in-new-york-city.html?_r=0
“The average price per square foot is getting high, so in order to assuage that, given the fact that land is so expensive and the cost of construction is expensive, we’re advising our clients to make more efficient apartments,” said Stephen Kliegerman, president of Halstead Property Development Marketing. – See more at: http://therealdeal.com/blog/2014/11/14/developers-packing-more-space-into-smaller-luxury-homes/#sthash.7y93xSKF.dpuf