According to the latest study from Ariel Property Advisors, the dollar volume of commercial real estate deals is up about 28% year to date over the same period in 2017. Additionally, 4 of the 5 boroughs are showing price increases in multi-family. Manhattan was up 16% price per unit versus last year. Only Brooklyn’s price per unit decreased.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
146 West 121 street, a Harlem SRO building with 13 B rooms and 1 class A apartment is now back in the market after a deal had fallen through. The building comes with the certificate of non harassment, obtained in September of this year and 1 tenant who occupies 2 rooms on the 5th floor. The property is located in the Mount Morris Historic district and is 18′ wide with 5 stories.
Inside rooms have many fireplace mantels waiting for restoration.
The home has air rights and is built 18′ by 50′ according to City records.
Currently, the home is setup with SRO rooms and 1 garden apartment.
The street view of West 121st street looking west.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
In the largest deployment yet, about 20 enforcement officers descended on the Atelier condo on West 42nd street and issued 27 summonses for illegal rentals to 20 different owners, including two members of their condo’s Board of Directors. The City is attempting to crack down on illegal rentals and this is the biggest effort yet but may been an indication of things to come. There is a new law that will force sites such as AirBnB to share the information of their hosts with the City which could go into affect as soon as February.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
24 luxury contracts were signed last week according to the Olshan Report. An 80th floor apartment in One57, Extell’s luxury tower on Billionaire’s Row went into contract after asking $19.9 million. A seller at 150 Charles managed a $4 million profit after buying his condo for just north of $12 million off floor plans back in 2012 as well.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
In the month of October there were 5 sales and 10 new listings. This is a dip from the last month when there were 20 new listings and almost no sales. The most expensive sale of the month was 123 W 120th street which a 4 family 20′ wide sold for $3.25 million down from it’s asking price of $3.75 million.
79 Harlem townhouse listings are available for sale and for the first time the under $2 million price range is seeing an increase. Last month there were only 5 listings under $2 mm and now there are 9 listings in that price range.
< $2 million
9
$2-$2.99million
38
$3.0-$3.99 million
23
> $4 million
9
134 days on the market is average for all Harlem townhouses. The number of months to absorb all of the inventory is 16 currently.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
18 Harlem townhouses will be holding open houses tomorrow on Marathon Sunday with the hopes that not everyone will be looking for the best place to see one of the 50,000 or so runners tomorrow.
Prices range from $2,250,000 for an intact 3 family home to just north of $5mm so there seems to be an offering for all ranges.
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
News about the NYC real estate residential and commercial markets provided and interpreted by an industry veteran licensed since 1999. Brian Silvestry of BSRG Inc. Licensed real estate broker
Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.
