Rendering by Foster+Partners via Bauhouse Group Gamma Real Estate has already filed plans to build a 67-story residential building at 3 Sutton Place, only weeks after purchasing the site for about $98 million.

Photo: Luxury Real Estate Manhattan's view from downtown overlooking Brooklyn Innovative office space startup extends their business strategy to living spaces, representing a shift in lifestyle needs for New York buyers.

Photo: Living Room at 37 Great Jones Street, a luxury rental building in NoHo. We all know moving is a huge stressor, and even if you are financially well off, the monetary burden of moving can be quite significant. Two leading factors that make buying a home in the long term seem the better choice than renting are cutting back on the number of times one needs to move, along with the perceived investment opportunity.

Thinking of making an investment in real estate? If so, be sure not to dive in headfirst. As it turns out, it is not as simple as it appears. Although you may have done all your homework, don’t assume you are in the clear just yet. Below is a list of mistakes that new real estate investors commonly make. Check out the list to make sure you don’t fall for these traps too.  

The newest numbers are in, and it’s no surprise to see that overall Manhattan and Brooklyn rental prices are still up from 2012, but some of the month-to-month numbers might surprise you.

As always, The Elliman Report released earlier this month provided a wealth of data on the state of the Manhattan real estate market. In many cases, the overall trends were not particularly surprising, with average prices maintaining their upward trajectory and vacancy rates remaining low. Still, when breaking down the numbers by specific neighborhoods, there are some interesting fluctuations from last year’s numbers worth noting.

Well, don’t say we didn’t warn you: the latest rental market report from Elliman says that rents in Manhattan and Brooklyn have been steadily rising since the beginning of 2013. Increases in rental prices have been seen across all apartment sizes in the city, with the average rents in Manhattan and Brooklyn coming up to $3,930 and $2,971, respectively, in March.

Winter is on its way out in Manhattan, and accompanying the rise in temperatures is a corresponding increase in the rental prices for apartments in the city. The latest rental market report from MNS says that rents rose by 0.92 per cent in February, which is the first indication of the market reversing the downward slump that it has been experiencing over the past few months. Vacancy rates in Manhattan continue to remain low, and these could serve as a reason for rents to shoot up further in the coming summer months.

After finding it difficult to find a Manhattan rental that fit both their budget and their specifications, it was rather commonplace in the past for New Yorkers to take their apartment hunt to Brooklyn instead. However, these days, a reversal of this trend is happening—recent rental reports suggest that with apartments in Kings County seeing a surge in rents, many apartment hunters are realizing that they may be getting better deals by renting homes in Manhattan itself.