Noho whose borders run from Houston to E 8 street between Bowery and Mercer, is having its’ moment now according to NYT. According to data, prices have appreciated substantially in the last 4 years with 3 bedroom apartments appreciating the most at 140% over their 2010 numbers. Two bedrooms increased 59% in the last 4 years. These numbers though are skewed because most of what gets sold in the 2-3 bedroom range is new construction. Continue reading Noho NYC neighborhood profile
Lower East Side goes high end
According to the NYT, buyers prices out of Manhattan’s Noho,Soho, and NoLita are now turning their attention to the Lower East side. Once a very gritty neighborhood, that grit is being replaced by new condo developments. Additionally, the area is changing as well due to the purchase of resale apartments where according to data, a NYC condo can be bought for the mid 800’s. This is a substantial discount from the price of over $1 million for one bedroom pretty much throughout Manhattan below 96 street. Continue reading Lower East Side goes high end
457 FDR apt A-1102 Listing preview
Here is a first look at the 1 bedroom/1 bath exclusive I have in Manhattan’s best kept secret-The East River Co-op. The apartment has a low monthly maintenance of $605. The apartment has northern and western exposures and is located in a building with a gym, laundry and 24 hour attended lobby.
Manhattan Real estate prices continue to increase
Basially, in Manhattan’s real estate market, there are two markets- the world’s elite led by high net worth individuals both domestic and abroad and the affordable luxury purchasers. New construction is really only being built with the former market in mind. Many of the shiny midtown towers inlcuding 432 and 520 Park avenue, 157 W 57 street, 220 CPS as well as their downtown counterparts are focusing still on the large luxury apartments with scant offerings under even 2000 sqft.
Continue reading Manhattan Real estate prices continue to increase
Co-op asked to interview child
Apparently, a co-op Board in Tudor City requested a potential purchaser to bring in their minor child for the Board interview. The buyer balked and got out of it by writing a convincing letter to the Board underscoring why she didn’t think this was a good idea. The Board smartly gave in and later on approved the buyer’s purchase of a $250k pied-a-terre at the Woodstock Tower. The buyer has since made a complaint with the Attorney General and is hoping to stop other Co-op Boards from doing the same practice.
I once had a co-op on Lower Fifth avenue that was going to interview the dog. Well, actually, they would have taken him for a walk and there would have been a 2 week grace period where the new purchaser would have to remove the dog if there was an incident. Thanksfully, the buyer chose a condo instead…
Read the DNAInfo article below.
Memorial Day weekend downtown,NYC
Memorial Day weekend, I found myself walking around downtown in the Village and on the Highline.
60 secs guide to Manhattan real estate-Contract to closing
http://youtu.be/m3Ys7actY2A
457 FDR Apt-A-1102 Listing preview
457 FDR also known as East River Co-op sits on the corner on Grand street and the FDR directly across the street from the East River Park which has a jogging path, river promenade, tennis courts, and amphitheater. This 1 bedroom one bathroom apartment has a low maintenance of only $479 per month without any assessment. The building has a renovated lobby as well as hallways, plus laundry as well as a gym.
The least expensive 1 bedroom in this building is in contract and the asking price was $525,000. The asking price for this one will be $450,000.
Pictures and video to come. First showing in about 2 weeks.
Citibike expansion for Upper West side
On the Community Board 7 site, there is an interactive map and a plan showing the expansion for the Upper West side from 59th street to 110th street. Community feedback is being solicited until June 1st by emailing [email protected]. See the full draft of potential sites which are part of the attempt to double the number of NYC bike stations by 2017.
522 West 142 street Harlem SRO Just listed
A 15 foot townhouse SRO will be sold without the certificate of no harassment. It is currently vacant and the asking price is $1.3 million. The property needs a complete gut renovation but considering the recent asking prices in and around the Hamilton Heights Historict district, this is a tremendous discount. The property is owned by a bank and as such will be conveyed subject to the buyer assuming responsibility for all violations, liens and their monetary fines as well as the NYS and NYC transfer taxes.
Lila Maron and myself Brian Silvestry of BSRG Inc. are handling this listing. Lila has set up open houses already and bidding will be competitive and it is anticipated the property will be transferred at or above asking price.