Hello and welcome to our Manhattan luxury real estate blog. Halstead Property, LLC is one of the most visible and fastest growing residential real estate brokerage firms in New York. Headquartered at 770 Lexington Avenue, the firm has more than 600 sales and rental agents throughout eleven prime retail offices in New York City including six in Manhattan.
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Buying New Condos, Fear Free
The “Fear Market” has buyers questioning whether to buy now or wait and see what happens. In the new condo world where the closing date may be up to 12 months away, the uncertainty plays an even greater role.
To combat this issue, some developers have turned to price protection guarantees. Such clauses in sales contracts essentially guarantee that a purchaser will pay only the lowest price available at the closing, regardless of the amount originally agreed to months before.
For more information, read the New York Times article.
Several new developments represented by Halstead Property are currently offering this program:
Williamsburg, Brooklyn
halsteadpdm.com/detail/?id=64307&lprice=&hprice
halsteadpdm.com/detail/?id=68282&lprice=&hprice
Chelsea, Manhattan
halsteadpdm.com/detail/?id=68222&lprice=&hprice
Riverdale, The Bronx
halsteadpdm.com/detail/?id=62141&lprice=&hprice
Harlem, Manhattan
halsteadpdm.com/detail/?id=60732&lprice=&hprice
halsteadpdm.com/detail/?id=40755&lprice=&hprice
Upper West Side, Manhattan
halsteadpdm.com/detail/?id=42651&lprice=&hprice
Posted By: 
Sharon Michnay
Comments »
John D'Ambrogio said,
November 29th, 2008 at 10:54 PM
Price protection guarantees sound pretty appealing, although it's hard to believe you're not somehow paying a premium for that guarnatee. For instance, our mortgage joint venture with Rubloff and Wells Fargo http://rubloff.com/RWF_Mortgage/ offers a two year lock on loans, but applicants pay a premium, and it's all disclosed up front. Interesting idea, however, and I hope some Chicago developers consider it.