"Commercial Observer" declare : Why a Softening in New York City's Condo Market Could Spell Big Trouble for Lenders and Builders

And that could mean trouble for lenders, investors and builders without the patience or wherewithal to ride out the cycle. New York City's condominium market is far from silent, but (to perhaps overextend the metaphor) the volume has gone down of late. "There's been no big catalyst that would necessarily cause a dramatic shift in the market," said Michael Lefkowitz, a real estate attorney with firm Rosenberg & Estis. "The developers who are able to ride out the cycle wind up with their names on buildings that they've donated. Pricing has stabilized."There is a distinction to be made between developments hampered by general market conditions and those with project-specific issues, he suggested.


As it stated in The housing market, in other words, is seeing some indicators move back to levels last seen before the market crashed. Headlines in recent months have indicated a major softening in the New York City apartment rental market. On Tuesday, economics analyst Bill McBride, who runs the blog Calculated Risk and is a leading voice on housing market trends, said that we've likely seen "peak renter" in the US apartment market. There is also, as Toll said Wednesday, a bigger demographic structural tailwind ready to benefit the housing market: millennials. Overall, however, the US housing market appears quite strong.


As it stated in

New York City's Drone Film Festival: State of the art

But we do have the next-best thing: Two separate tickets to the New York City Drone Film Festival 3. It's coming – and soon: The third New York City Drone Film Festival, also known as the NYCDFF 3. We're a drone film festival. "But the reality is we're not an aerial cinematography film festival. Because many of the films entered in this festival bear little resemblance to the standard drone fare on YouTube.