2006

In recent years, thousands of condominiums have been built throughout the country. From New York to Texas to Florida, new submarkets have emerged with a seemingly perpetual demand for units that range from tiny to spacious.

To determine where the market is headed, we first must look at how and why it got so hot in the first place. Real estate prices are a function of supply and demand. From third-quarter 2002 to fourth-quarter 2005, the largest influences on demand came from interest rates hitting historic lows.

In recent years, thousands of condominiums have been built throughout the country. From New York to Texas to Florida, new submarkets have emerged with a seemingly perpetual demand for units that range from tiny to spacious.

To determine where the market is headed, we first must look at how and why it got so hot in the first place. Real estate prices are a function of supply and demand. From third-quarter 2002 to fourth-quarter 2005, the largest influences on demand came from interest rates hitting historic lows.

Park Slope’s Pavilion multiplex theater may have been sold, but it’s not a wrap for the popular neighborhood movie house. In fact, it’s the theater’s popularity – as well as a lease which runs through 2022 – that will ensure that in the future, the show will go on.

This summer, Jill Schwartzman decided to move out of her shared Williamsburg apartment and find a place of her own. She initially searched in Windsor Terrace, the neighborhood bordering Park Slope, but found it too expensive. Her broker suggested Kensington, immediately to the south.

“At first I thought it was too far away, but I ended up really liking it,” said Schwartzman, 31, an editor at Random House. “Most importantly, there was no fee.”

Relative affordability varied housing stock and a burgeoning artistic community makes once-overlooked Kensington the Brooklyn neighborhood of the moment.

Featuring Abraham Hidary on Hidrock’s Pavilion Movie Theater

With housing prices in brownstone Brooklyn at lofty levels, patrons of the Park Slope Pavilion movie theater often ask anxiously if it will be converted to condominiums.

The new owner has a reassuring answer, at least for the short term.

“It would be a great condo conversion at some point,” says Abraham J. Hidary, president of Manhattan-based Hidrock Realty Inc. “[But] it is a movie theater, and is going to remain that way for a long time.”