Category Archives: Upperwestside

CentralParkWest, Condos, Listings, Upperwestside

382 Central Park west 4Y Just listed

A convertible 1 bedroom has been listed in the Olmstead condominium at 382 Central Park west. The apartment is a north facing 648 sqft, with a renovated kitchen and bathroom. The monthly charges are very low at $910 for a full service building with a gym, parking(waitlist), and an exercise studio which features classes for residents. See VR Tour below.

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.

 

Amenities, Harlem, Investment, Manhattan, Marketreports, Rentals, Upperwestside

Most sought after and least supplied amenity in a Manhattan rental is?

Apartmentlist.com did nationwide research to see what amenities were most sought after by renters and compared that to what is most supplied by landlords. Interestingly enough in the NYC market, 39% of the renters were looking for an in-unit laundry while only 10% of the apartments had it. This coincides with the on the ground data of my past rentals where many tenants ask if the unit has an washer/dryer in the apartment and most do not.

When you do a search on streeteasy.com for 1 bedrooms for rent on Manhattan’s upper west side, you find 204 listings but when you check the box for washer/dryer, the number goes down to only 8!

In Central Harlem, under $2,500 per month, you find 59 listings with at least 2 bedrooms and when you only look at apartments with washer/dryers the number goes down to 7!

Full coverage from Apartmentlist.com

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every Manhattan market from Battery Park City to Washington Heights.

Upperwestside

Lincoln Square AMC Movie theater evacuated Friday night

Last night, the Lincoln Square AMC on Manhattan’s upper west side evacuated at about 7:30pm. As we entered the Imax on the top floor at about 6:30pm, there was a smell of smoke but the ticket taker seemed confused when we pointed it out to her and thought it was the food concession.

About 45 minutes into the movie, there was a voice that asked everyone to calmly leave the theater. On the way out there was smoke coming from that concession. We went down the stairs and left. Numerous fire trucks arrived quickly on the scene and one firefighter climbed up the ladder towards the terrace facing Broadway, that is one floor the Imax theater.

 

Highline, Luxury, Upperwestside

5000 new apartments coming to the market in new development in 2018

According to the latest reports, about 4600 new condo units will be listed this year in NYC. That is in addition to over 3000 that came online in 2017. Given that new development without an amazing location, is selling slowly that sounds like a lot of choices for buyers and anxiety for developers.

Ziel Feldman is bringing to market $3.4 billion in inventory within two projects. One is the Upper West side conversion of the Belnord with large units over 2000 square feet and another is the twisting condo towers known as XI on the Highline. Both projects come with starchitect pedigrees with Robert A.M. Stern redesigning the Belnord and Bjarke Ingels handling the designing of the new construction Highline condo.

More details on Belnord and XI

Previous luxury market coverage

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.

 

Buying tips for your NYC apartment, Upperwestside

Thinking of buying in a Manhattan building with a tax abatement expiring soon?

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I am constantly searching for apartments for clients and occasionally come across buildings that are tax abated. Generally speaking apartments above 96th street had 20-25 year tax abatements and below 96th street the length of the abatement was only 10 years. As a result, in the last several years, the abatement is phased out, and the taxes go up substantially.

When the monthly numbers are lower, buyers will pay more for the apartment which helps developers of new condos make more profits. But how do you analyze the value of a condo with a tax abatement expiring shortly and how much time is enough that is left on a tax abatement?

Continue reading Thinking of buying in a Manhattan building with a tax abatement expiring soon? →

New Developments, Upperwestside

61 West 104 street construction update Upper West Side

A new building is rising at 61 West 104th street. The previous building was a 10 unit building which was demolished. The new building will have 7 stories, 34 apartments and just over 23k of residential square footage.

Previous building housed 10 units while the new building will house 34 units.
BuyingtipsforManhattanproperty, Harlem, Investment, Townhouse, Upperwestside

Why are the taxes so high in some Manhattan buildings but not so in others?

Understanding NYC’s archaic and often inequitable system of real estate taxes might be a life long pursuit but for the purposes of this blog, let’s take a look at a couple of the items that influence your real estate taxes of a Manhattan townhouse.

One of the influencing factors is how recently the property transferred. You have some long time owners in Manhattan whose properties are now worth several million dollars yet their assessed values are artificially low due to the lack of a recent sale. However, once the property changes hands, the Department of Finance might be right there adjusting the value and raising your taxes.

Continue reading Why are the taxes so high in some Manhattan buildings but not so in others? →

BuyingtipsforManhattanproperty, Townhouse, Upperwestside

Upper West side townhouse report

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In the month of April, 9 new listings for townhouses on the Manhattan’s Upper West side came on the market.

331 W 78th street 5.3 million
52 W 85th street 9.95 million
248 CPW $29 million
42 W 70th street $14.2 milllion
49 W 94th street $6.288 million
22 W 90th street $8.150 million
129 Manhattan ave $5.25 million
164 W 81 street $5.35 million
305 W 78th street $7.95 million

Overall, there are 55 townhouses in the market on Manhattan’s Upper west side ranging from $4.35 million to $29 million for a high end renovation at 248 Central Park west.

Two contracts were signed in April for townhouses on the Upper West side. At this rate, it would take more than 2 years to sell all of the supply that currently exists in the market.

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.

Buying tips for your NYC apartment, CentralParkWest, Marketreports, Selling tips, Upperwestside

Park West Village on Manhattan’s Upper west side inventory low

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Here is the update on the market conditions in Park West Village, the 4 building condo complex that runs from West 97th street to West 100th street between Columbus and Central Park west. Inventory is low with each building having no more than 3 units available for sale. Considering that each building has over 400 units, that’s a minuscule amount of inventory available. Interestingly, there are no 2 bedroom/2bathroom apartments available right now in the Upper West side complex.

The table below shows the number of active listings, contracts signed this year that have not closed and closed sale since the beginning of the year.

 

Building # listings contracts sold
400 3 1 3
392 2 1 3
382 3 4 3
372 2 1 5

 

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.

Soho, Store Openings, Upperwestside

Trader Joe’s Upper West announces opening date

The Upper West Side Trader Joe’s, located between 92nd and 93rd street on Columbus avenue will be opening on May 4th at 10am according to NBC.

A Soho Trader Joe’s is not far behind as they recently held a job fair for the store on Spring street.

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.