Spring Is Here: Here Come the Luxury Condos!

April 17, 2015 — Just a few weeks ago, StreetEasy analyst Alan Lightfeldt mentioned, when discussing February condo sales figures, that sellers would begin to flood the market with new units come spring. Well, spring's finally here and the New York Daily News reports that, according to Corcoran Sunshine, approximately 5,377 new condo units are expected to hit the market this year, including 1,900 this spring alone. The "stream of uber-luxe new condos is coming to market in some of the city’s priciest locales, finally putting an end to the enduring inventory shortage that’s been pushing up prices." Well, that's good news for the super wealthy, but Andy Gerringer of the Marketing Directors, which specializes in marketing new condos and rentals, warns that it can create backlog in the market. We'll be following, but in the meantime, do check out the eye candy hitting the market soon.