http://online.wsj.com/video/news-hub-bonuses-fuel-apartment-sales/7323F708-E85C-4569-B7E4-1605C085DD45.html

The Fairchild condominium development in lower Manhattan opened for sale in December 2008, just after the collapse of Lehman Brothers rippled across the financial sector and paralyzed the Big Apple's real-estate market.

Gerard Longo, principal of Atlantic Walk Vestry, which developed the 21-unit building, saw just two sales in the first six months. It took cutting the asking prices by some 15%, a three-bedroom unit that was to go on the market for $3.6 million sold for $3.1 million, to generate activity.

Gerard Longo is featured on CNBC's "Squak Box" to discuss the residential real estate outlook for 2010.

In spite of the global financial and economic challenges of the current market, Madison Estates can look back on a successful year with continued growth expanding market share. Madison Estates, Brooklyn’s leading provider of high quality real estate services for residential, commercial and rental properties, is pleased to announce the opening of a new Brooklyn office. Located at 53 Douglass Street (off Smith Street), Brooklyn, NY, the expansion was necessary to accommodate the company’s growth in recent months. Driven by ever-growing new customer volume, Madison Estates has applied substantial resources in the expansion of the downtown Brooklyn area.

“We found a gem on 61st Street [in Sunset Park, Brooklyn] that we made an offer on,” says Peter Ahn, who’s been looking with Madison Estates for a two-family house with his wife and newborn daughter. The Ahns had focused on Sunset Park and Bay Ridge, and were hoping to spend between $700,000 and $850,000. The house on 61st Street was $695,000. “But the place got something like five or six offers.”

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A new, multi-million dollar clocktower condo hit the market this week as realtors across Brooklyn prepare for what could be a real estate comeback. NY1's Jeanine Ramirez filed the following report.

The architectural firm that will redesign a former firehouse, above, to serve as the new home of the Brooklyn Philharmonic has unveiled its plans, the real estate Web site GlobeSt.com reported. The firm, HOK, said that its plan would preserve the exterior of the decommissioned firehouse of Engine 204, at 299 DeGraw Street in Cobble Hill, and include a gut renovation of the building’s two-story, 4,250-square-foot interior.