Brooklyn, Queens gain market share in up-and-down year for new condos – Robert Khodadadian

, Brooklyn, Queens gain market share in up-and-down year for new condos – Robert Khodadadian, Robert Khodadadian

New York condo developers were riding high in the first half of last year as the city’s flourishing housing market, boosted by historically low mortgage rates, carried over from 2021. As the calendar flipped from June to July, everything changed. Booming sales through the first half of the year — when two-thirds of all deals for new development condos took place — succumbed to interest-rate hikes, and activity fell back below pre-pandemic levels. “The sugar

 New York condo developers were riding high in the first half of last year as the city’s flourishing housing market, boosted by historically low mortgage rates, carried over from 2021. As the calendar flipped from June to July, everything changed. Booming sales through the first half of the year — when two-thirds of all deals for new development condos took place — succumbed to interest-rate hikes, and activity fell back below pre-pandemic levels. “The sugar
The post Brooklyn, Queens gain market share in up-and-down year for new condos appeared first on New York.  Development, Home Page, CIM Group, Extell Development, NYC Luxury Market, Related Companies The Real Deal New York 

Lead by real estate veteran Robert Khodadadian, has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

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