Slaying the Land Cost Dragon

DEVELOPMENT ON A GROUND LEASE By Dennis M. Sughrue Developers in New York now confront a stark, new reality. In established Manhattan and Brooklyn neighborhoods, for the first time in memory, land prices exceed construction costs. This calculus shapes the development landscape in profound ways….

Developer Round-Up

As the market heats up heading into 2014, the questions on everyone’s minds are “can the market sustain some of the high land and building prices we are witnessing across all asset classes?” and “where are the best neighborhoods to invest?”.  So we went to…

Brooklyn’s Micro-Cconomy

How the borough will look in five years  If Brooklyn was not a borough of NYC, it would be the fourth largest city in the United States. As the borough of Kings slips out of Manhattan’s shadow, we see that the pillars that most define…

Transportation Drives Development

As real estate investors and developers, one question we should always be circulating is, “How can we create more desirable inventory?” While the city took right action in rezoning Greenpoint to accommodate the residential needs of a growing community, it hasn’t taken off with the…

Looking Ahead to 2013

 Coming out of 2012, the strong rental market continues to drive up the value of development sites. How is this actually playing out? An investor signs a contract on a deal and he can flip it for a few percent more a few months later. We’re…

Tale of the Tape: Brooklyn vs. Manhattan (Condos vs. Rentals)

The How: We compared the rental prices and sale prices in eight neighborhoods. The Topline:  When it comes to Manhattan and Brooklyn rental prices, in the A-List neighborhood’s high-end buildings, there’s not a dramatic difference in price. However, when we look at condos in these…

Brooklyn: America’s Good Food Capital

Stretches of Brooklyn once underserved by basic amenities are now teeming with innovative restaurants, artisanal food producers, gourmet trucks and, now, branded food fairs. It’s a winning combination that has attracted the attention of New Yorkers from all boro’s as well as visitors from around…

No End in Sight for Brooklyn

SEASONED investors have been developing in Brooklyn for years, but with development sites in top neighborhoods like Williamsburg and Brooklyn Heights reaching (and exceeding) $200 per buildable square foot, double the average for the rest of Brooklyn, market watchers wonder, how high can it get?…

Bringing Perspective to Brooklyn’s Rental Market

At MNS, we love to do deals that make news, like the $9.5M transaction last week for 310 North 7th Street in North Williamsburg (http://www.brownstoner.com/blog/2012/06/310-north-7th-street-sells-for-9-5-million/), but it’s also very flattering when our favorite media outlets like The Real Deal (http://therealdeal.com/blog/2012/05/01/with-new-division-mns-gets-into-investment-sales-game/) and the May 29th issue of…