Owner: nyc BLOG estate URL:http://nycblogestate.com Join Date: Tue, 28 Aug 2007 10:39:24 -0500 Rating:0 Site Description: Manhattan, New York City Residential Real Estate blog. Site statistics:Click here
Conversion Update: Apple Bank Building 2007-08-16 07:16:19 The Apple
Bank Building
2112 Broadway,The landmarked Apple Bank Building on the Upper West Side at West 73rd Street and West 74th Street has been converted into 29 residential condominiums over the building's top four floors. Available units range from Two Bedroom 2.5 baths from $3.5 million to a Three bedroom 3.5 baths for $6,665,000.Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping Read more:Conversion
, Update
New Construction Update: Gramercy 2007-08-15 22:38:15 Gramercy Y00 by Stark340 East 23rd StreetThe 207 unit 21-story glass building is 65% sold as of July according to The Real Deal within 2 months of sales. Anticipated completion date is Summer 2008. Architect Gerner Kronic + Valcarel. Designer Philippe Stark is designing the building's interior designer.Stark designed the interiors for 15 Broad Street, downtown.Building amenities include: An indoor and outdoor lounge custom designed by Stark, a second floor lounge equipped with a screening room and library which will connect to an outdoor terrace, a fitness room and rooftop cabanas.Prices range from mid $600,000 for studios, $800,000 's for 1 bedrooms to $3,460,000 for a three bedroom penthouse.Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping Read more:Construction
, Update
New Construction Update: Soho 2007-08-15 21:19:19 Mulbery Views Condominium180 Hester StreetA seven story 40 unit condo building featuring floor through and duplex apartments with private keyed elevator that opens directly into each apartment will be available late summer for occupany. Prices in the 800's.To join my VIP Manhattan Buyer Profile system and receive listings of new developments click here.Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping Read more:Construction
, Update
Wachovia Upper West Side - Coop Equity 2007-08-09 18:04:13 A new Wachovia Bank Coming Soon to 2330 Broadway on The UpperWest Side
has a sign in the window: CO-OP EQUITY LINE OF CREDITAs low as Prime Minus 1.75% For 3 Months Currently 6.50 APRBonus $100 Visa Gift CardThe bank branch will be opening in the space where The Time Cafe was located. While every vacant retail space in Manhattan seems to be either leased to a drug store chain or a bank these days it is nice to finally see a bank move into the neighborhood that "gets the neighborhood."Most Upper West Siders live in coops. I congratulate Wachovia for offering a viable product that can help NYC coop owners.While many of the new out of town banks do coop loans some of them still do not. Wachovia is the first one that I know of other than Chase and Citi to offer Home Equity
Lines of Credit for Coops.Maybe there are some others lenders but I don't know of them. Washington Mutual has been saying they are planning on offering them. If any one knows of any Banks that offer Home Equity Lines o
Midtown West: Residential Construction Update 2007-08-08 10:46:54 The Platinum247 West 46th Street Sales are underway at The Platinum a 43 story condo being constructed in Midtown
West. Unlike the recently completed The Link at 310 West 52nd Street that marketed the "Hells Kitchen" lifestyle, The Platinum is being marketed as the "cutting edge" building in Midtown West. Hells Kitchen, Midtown West, Clinton, The Theatre District, The Great White Way, Restaurant Row, whatever you want to call it - it is a vibrant hot neighborhood convenient to all. The 43 floors will have 220 apartments. Amenities include "The Zone" a full floor of unique lifestyle amenities including the Q lounge with billiard tables, spa lounge a retreat featuring a water wall, fitness center, golf stimulator , experimental shower, treatment room, outdoor terrace, cabana lounge seating with a misting area for warm days. There is even a dog walk - so you don't have to leave the building to walk your dog.The lobby's floating island surrounded by a moat of moving water also features a Read more:Construction
, Update
High Line Update 2007-08-05 02:34:21 Fujifilm joins Friends of the High Line with Portrait projectHundreds of photographs will be displayed in unique outdoor galleries to raise awareness of High Line park, projected to open in 2008.As the High Line park takes shape above the streets of New York City, construction fencing in the neighborhood will feature improvised outdoor art galleries covered with photographs of High Line supporters from the local community and beyond according to Friends of the High Line. The group will also launch a Web site featuring the portraits, http://www.thehighline.org/portraits. Dubbed "The High Line Portrait Project" and made possible with a $50,000 donation from Fujifilm, the photographs capture the spirit of the inventive new park that is being built atop the High Line elevated rail structure, which runs through the Manhattan neighborhoods of the Meatpacking District, West Chelsea and Clinton/Hell's Kitchen.The High Line Park will be a unique 21st century public space. Plans are underway to Read more:Update
West Chelsea: New Residential Developments 2007-08-05 02:15:47 Chelsea New Construction update:175 Ninth Avenue (No condo towers for Seminary)The General Theological Seminary has reversed course on a plan to build a 15- story condominium tower on its campus after news of the plan met with fierce community opposition as reported in the NY Sun. The seminary wanted to build a 151-foot tower to generate $21 million in revenue for renovation of its existing 19th century buildings. Community activists charged the tower would have been out of place in the neighborhood. Officials are now presenting a plan for a seven-story mixed-use residential building.IMHO tax exempt landmark churches have no business in real estate development. Look for my Upper West Side construction update coming soon where I will tell you about the 21-story residential building ajoining the West-Park Presbyterian Church on West 86th Street.The Caledonia 450 West 17th Street (Sold Out)The 190 condominium units in The Caledonia, the 1st residential tower on the future High Line Park h Read more:Chelsea
Upper West Side Residential Update 2007-08-05 01:58:40 UWS News: Rezoning BattleThe Department of City Planning is proposing the first comprehensive rezoning of the Upper
West Side in almost 50 years. The battle mostly started by the Ariel Condominiums - two 30 plus story towers currently rising on Broadway between 99th and 100th streets. The buildings have led to some neighborhood opposition because of their height. The rezoning calls for height limits on new construction that would see most future developments rise less than half the height of Ariel Towers, the New York Sun and The Real Deal reported.New Construction Update
:165 West 86th St. A 21-story residential building is being erected ajoining the West Park Presbyterian Church. The project will have separate entrances for its 50 affordable studio rentals on floors five through 10, and its 27 market-rate condominiums on floors 11 through 21. Some community members are saying the separate entrances will create "segregation" in the building.215 West 88th St, Merrion CondominiumsSales
Kitchens and Baths: What's Hot and What's Not 2007-08-05 01:53:04 In new luxury condos going up throughout the city, the latest trend is subtelty. Large spaces with quiet, subtle luxury is being seen in the newer condo projects.Designers are creating kitchens that conceal major appliances. Flaunting appliances such as the Sub-Zero, the Viking, the Wolf are out. Today many buyers are looking for kitchens to be more sleek and concealed they don't want to see appliances anymore.Many of the new condos are featuring kitchens that look like a built -in-piece of furniture; dishwashers are covered, refrigerators are covered. Instead of traditional ovens, many condos have flat, sleek oven tops. Sleek (and often smaller) appliances with brand names like Fisher & Paykel, Liebherr, Gaggenau, Miele and Bosch are starting to replace the commercial style appliances like Viking and Wolf.The right appliances or combination of appliances has become the new status symbol. Granite and marble is out, stainless steel is out, quartz resin and glass are in.Out are kitc Read more:Baths
Harlem: New Residential Developments 2007-08-05 01:46:03 The Kalahari 40 West 116th StreetThe Kalahari will be covered in decorations inspired by South African Ndebele tribal designs. Adinkra symbols" and other African designs and markings will adorn the walls.The 12 story building will contain an independent film center, education center and a gym.Nearly half of the 249 planned condos have been set aside for moderate-income buyers.The remaining market priced 129 unit condominium is more than 50% sold. Currently available are 2 and 3 bedroom units ranging from $700,000 to $1,585,000. The two tower building will be completed in early 2008.To receive listings of new developments in Harlem
click here.Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping
"Market Data" on Website 2007-07-21 18:15:22 How many Manhattan condos were sold in the fourth quarter last year?What is the percentage increase in average apartment price in the 10022 zip code over the past five years?These questions can easily be answered on my CBHK website, which now boasts a "Market
Data" button with extensive information about the Manhattan and New York City real estate markets.The Market Data on my website consists of an overview of the entire New York City market, including average sales prices from the past 5-10 years, median prices, prices per room and average prices per zip code.In addition, prices for Manhattan co-ops, condos, lofts, townhouses and luxury real estate are broken down.Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping
$225,000 Parking Spot: If you're lucky 2007-07-15 15:01:55 In many markets throughout the country $225,000 gets you a three bedroom house with perhaps a nice back yard.There have been many new developments in Manhattan the last several years. Many do not have garages which can be a deal breaker for many new condo buyers.Many buildings that do have garages usually have an outside vendor running the garage and anyone can rent a spot if they are available. A parking spot can cost any where from $350 to $600/month or more depending on the location. Some coops own garages and the spaces are for residents only. New York Towers where I currently have an exclusive listing charges $250/month for residents. 2 Fifth Avenue a prestigeous coop in Greenwich Village has parking spots available for shareholders at discount rates.Some of the new developments such as The Onyx Chelsea, a new 52-unit condo at 28th Street and Eighth Avenue, is selling parking spots. The first two spots sold for $165,000, the third for $175,000 and the last two for $195,000. Each s Read more:lucky
, Parking
Quiet in NYC: New quiet rules effective today 2007-07-14 10:15:08 For the first time in 30 years the noise code in New York City has been changed. Effective today July, 1 2007 there are new rules regarding noise in the city.According to an interactive survey on The Call Live Wire:http://ny1.com/ the other night, the three top noises that annoy city residents are:TrafficDogs BarkingMr. Softee (Ice Cream Truck)For some time now the city has had a special phone number 311 set up for all kinds of complaints and consumer/public non emergency service. By calling this number to complain about noises the offenders can be fined $175.Mayor Bloomberg has been a great manager for the city with many creative ideas. I wonder how these new rules can be enforced and where do you draw the line? Can someone be fined because their baby is crying?Having lived in the city for many years you get used to certain city noises. Sometimes when I go to the country or the beach I have to adjust to the quiet. The first night the crickets usually keep me up all night.Under the new Read more:effective
Manhattan Market Still Rising: 2Q-07 Update 2007-07-08 05:11:40 This week Manhattan
brokers released their 2Q-07 market reports. While the numbers are always a little different from each report the consensus seems to be condo prices rose while coops prices declined slightly and overall apartment average prices are up and inventory is down.According to a report by Miller Samuel, a leading appraisal company the average sales price of Manhattan condos and co-ops dropped from $1.39 million in second-quarter 2006 to $1.33 million in second-quarter 2007, and the median sales price rose from $880,000 in second-quarter 2006 to $895,000 in second-quarter 2007.The average price per square foot was $1,139 in the second quarter, up 5 percent compared to second-quarter 2006, and the for-sale inventory declined 31.5 percent, to 5,237 units.Price per square foot increased 10.7 percent among uptown for-sale units, to $630; 7.2 percent for downtown units, to $1,099; 4.3 percent for west side units, to $1,153; and declined 4 percent for east side units, to $1,134.Co Read more:Market
, Rising
, Update
In the ZONE: "congestion pricing" 2007-07-01 13:04:57 I just saw a piece on Fox 5 with Arnold Diaz uncovering a parking scam on the Upper West Side at The Landmark Beacon Theatre on Broadway. My office is on Columbus Avenue between 75th and 76th Street two blocks away.There was a Stealy Dan concert a couple of weeks ago. Parking is tight so employees of the Avis rent a car at the corner were selling parking spaces in the street for $25. The reporter went undercover and caught them on tape moving the Avis cars from the spots on the street and charging concert goers for the spots.It is illegal to sell street parking, scalping tickets at concerts is illegal too. I'm not condoning it but the concert goers didn't seem to be complaining about the Valet Parking.Traffic and parking in Manhattan is a major issue. Mayor Michael R. Bloomberg has a plan to charge motorists to drive below 86th Street in Manhattan.If approved, many real estate brokers are already saying it may do more than simply reduce traffic, noise and pollution in the Manhattan b
New Manhattan Avenue Historic District 2007-06-30 08:21:56 The Landmarks Preservation Commission recently created a new historic district in Morningside Heights on the Upper West Side. The newly created historic district is comprised of 40 buildings on ManhattanAvenue
between 104th and 106th Streets. Unlike many of Manhattan's earlier row houses, which were primarily built with brownstone facades in the classical style, the structures in the new Manhattan Avenue district combine Gothic, Queen Anne and Romanesque features.Originally called "New" Avenue when it was created in 1868, Manhattan Avenue starts at 100th Street and continues to 125th street where it merges with St. Nicholas Avenue.Manhattan Avenue irregularly divides Morningside Heights and West Harlem. Morningside is West of Manhattan Ave including Columbia University, Saint John the Divine and Morningside Park. To the East of Manhattan Ave but west of Frederick Douglas Boulevard (AKA Central Park West below 110th Street.) is considered West Harlem.New York City now has 87 historic Read more:District
NYC Property Tax rate Reduced for 2008 2007-06-28 22:12:21 City to Reduce Property Tax Rate and Continue Property Tax Rebate Program for Homeowners Mayor Bloomberg and the City Council announced an agreement on the Fiscal Year (FY) 2008 New York City Budget. The $59 billion budget includes $1.3 billion in property, sales, and small-business tax cuts, including a property tax rate cut rate of 7% for the coming year. These tax cuts come in addition to the $256 million in $400-per-homeowner tax rebates requested by the City and approved by the State Legislature last week.Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping
Blog Roll 2007-06-24 01:11:31 nyc BLOG estateGreat web-blogs from around the country.America's Most Opinionated Mortgage BrokerCleveland Real Estate NewsSacramento Real Estate VoiceLuxury Home DigestHenderson Real EstateManhattan Beach Real EstateDenver Real EstateSt Paul Real EstateEastern Connecticut Real EstateCharlotte Real Estate VoiceVirginia Real Estate HomesMichigan Real EstateColumbus Best BlogLong Beach Real Estate-Downtown Long Beach CondosSellsius BlogThe Mortgage PorterSound Bite BlogManhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping
Coop Rights Bill: Update 2007-06-24 01:02:01 The NY Sun reported about the bill that would affect coop boards that has long been stalled is now getting support from law professors.The proposed law would require coops boards to put in writing their reason for rejecting a purchaser applicant from their coop. There is still opposition saying the law goes to far. I was quoted in the article.They called me about the board interview process and how I prepare a buyer for the interview.It's best to really keep your mouth shut, only answer questions, and not elaborate on things," a broker with Coldwell Banker Hunt Kennedy, Mitchell Hall, said. One client once talked with a board about making alterations to her apartment and barbecuing, Mr. Hall said, two things sure to turn off her interviewers.In that example the coop had a valid reason "quality of life" issue for other shareholders in the building. Major renovations can be of concern, barbequing while practiced and condoned it is actually illegal in Manhattan buildings.Richard Nixon an Read more:Rights
, Update
Manhattan Landmark: Grand Central Terminal 2007-06-23 00:18:55 Originally "GrandCentral
Depot" Reborn "Grand Central Station" Re built "Grand Central Terminal"In 1913 Grand Central Terminal opened and became an anchor for the real estate development in the midtown Manhattan
neighborhood.Today Grand Central is completely restored back to it's 1913 splendor, Grand Central has become a Manhattan destination for it's 5 star restaurants including the Oyster Bar & Restaurant the Landmark
seafood restaurant on the lower level.The Campbell Apartment has been fully restored to its original splendor -- and reborn as a chic cocktail lounge, formerly the private office and salon of 1920's tycoon, John W. Campbell.Cipriani Dolci, Charlie Palmer's Métrazur, and Michael Jordan's The Steak House N.Y.C. are among the restaurants, cocktail lounges and shops. Casual Dining international eateries are in the lower level Dining Concourse. Gourmet foods from the Food Halls of Grand Central Market include Zaro's Bread Basket, Wild Edibles, Pescatore Seafood Compa
Google Goes Ga Ga for Mayor Mike 2007-06-22 10:19:27 First Yahoo donates 12 Hybrid taxis to NYC and the next thing you know Mayor
Bloomberg is being interviewed at the Google
plex. You think he's running for President? Hillary, Rudy and Mike that would be some subway series.The googlers appreciate that the Mayor is a "geek" with an engineering degree from John Hopkins and founded one of the world's most succsesful media information companies prior to becoming Mayor.New York City certainly has a great website nyc.gov and the once secret coop sales prices are now public information.He's a, "guy who knows firsthand about using technology to make information more available," says Pablo Chavez, Google's 'policy counsel' from a podcast on the new Google Public Policy blog.Bloomberg made himself available at "the Googleplex" yesterday to "talk to Googlers," including ceo Eric Schmidt, "about a broad range of issues". For the complete interview check out the new Google Public Policy blog Manhattan Real Estate Blog - nyc BLOG estate
http://r
Hot Town, Summer in the City: Residential Market Report 2007-06-20 18:28:32 Summer is here and the Manhattan Residential market has not cooled down. Sales activity remains strong, especially among the priciest properties reports The Real Deal.While new condos hit the market, co-ops are in short supply. Listing inventory is up, but less than last year and the upper end of the market is thriving.On May 15th I posted the REBNY Residential city wide sales report that reported a 23% increase in apartment sale prices in NYC for the 1st quarter of 07 compared to 06. According to the REBNY report the average first quarter sale price rose to $1,107,000.Jonathan Miller, president of Miller Samuel appraisal firm says prices rose 5.4% to $1,290,000. There is high level activity across the market and upper-end pricey properties areharder to find.I've been very busy the last several months. Actually it's been really busy since Thanksgiving. The market has been busy there are bidding wars. Some apartments in bidding wars are selling for 20% above ask.I really thought after Read more:Market
, Summer
"Green- Up" NYC Streets 2007-06-11 21:22:46 Street trees beautify NYC streets and make them "green."Any property owner may request a street tree. Visit the Parks Web site to request a street tree, learn about planting one on your own, and to view a list of approved tree species. Learn more Manhattan Real Estate Blog - nyc BLOG estate
http://rpc.technorati.com/rpc/ping Read more:Green
West Village - New Construction - 166 Perry Street 2007-08-28 17:17:00 A new 24 unit residential condominium is being constructed at 166 PerryStreet
in the West Village
.Apartment prices at 166 Perry Street range from an 1,126 square foot one bedroom, one-and-a-half bath starting at $1,195,000 to $11,500,000 for a three-bedroom, three-and-a-half bath duplex penthouse with two fireplaces, 3,415 square feet of interior space, and 1,225 square feet of terraces including a 109-square-foot lap pool.The 8-story building at 166 Perry Street will have a setback at the 6th floor and the glass cornice drops down two stories at the building's east and west sides. All apartments are corner apartments. The building has a fitness center, 24-hour doorman and concierge services, private storage facilities, and room service and pantry stocking services provided by Jean-George Vongerichten's Perry Street restaurant. The buildings glass facade will have cascading, alternately angled windows and its street entrance features perforated metal scrim and mechanized single-pane Read more:Construction
Columbia, NYU; Apartments - Real Estate Empires 2007-08-26 12:16:00 Summer is almost over as evidenced today by the crowds of NYU students in Greenwich Village. With a little help from their parents they moved into dorms and apartments in Greenwich Village. Today is NYU "move-in-day."A similar scenario takes place in Morningside Heights as Columbia
University students begin moving in to their dorms and luxury apartments that Columbia owns.Both NYU and Columbia have been building real estate empires in their respective Manhattan neighborhoods. Both private non profit institutions have real estate holdings worth more than half a billion dollars. Columbia ownes more than 7,000 apartments and it's real estate is worth approximately $635 million. This number excludes the value of wharehoused property it has not yet converted to educational use.Columbia has ambitious plans to expand the campus from Morningside Heights to include 18 acres from 129th St. to 133rd Street in the Manhattanville section of West Harlem. The expansion plan will take 25 years with p Read more:Apartments
, Estate
, Real Estate
Manhattan Real Estate Market and Mortgage Update 2007-08-24 19:34:00 It has been a busy year and summer. The busiest August I can remember. Manhattan
has been very fortunate this year compared to the rest of the country. Our market continues to be very strong.The fall out from the sub prime mortgage meltdown during the last several weeks is now affecting the mortgage, credit and financial services industries. The stock market has been volatile the feds added liquidity to the markets and lowered the prime rate.It remains to be seen what affect this will have on the real estate market in Manhattan. We still have low inventory. Most of the inventory is in new construction and there seems to be plenty of buyers interested in new development condos.However, borrowing will become harder for many buyers as lenders are tightening their criteria for loans. The mortgage industry will have layoffs, consolidation, mergers, take-overs and bankruptcies.It is now more important than ever for buyers to be pre-approved and to have a commitment from a lender before they Read more:Estate
, Market
, Mortgage
, Update
Real Estate "Queen" Leona Helmsley Dies 2007-08-20 03:59:00 Leona Helmsley, The New York hotel and real estate "Queen
" died of heart failure today at age 87. Leona was a successful residential real estate agent before her marriage to Harry Helmsley the NY real estate magnate. Leona helped her husband run a $5 billion empire that included managing the Empire State Building. Helmsley became known as the "queen of mean" when a former housekeeper testified that she heard Helmsley say: "We don't pay taxes. Only the little people pay taxes," during testimony at a trial where they were being charged with tax-evasion.In 1980 Leona became president of Helmsley Hotels, a subsidiary which including the Park Lane, St. Moritz and Palace in New York and the Harley Hotels. While I've never had any dealings with Leona in real estate, I did in a previous life in advertising. During most of the 80's Leona Helmsley was featured smiling in glamorous magazine ads dressed in luxurious gowns and tiara, advertising the Helmsley Palace as the only hotel in the world Read more:Estate
, Leona
, Real Estate
"Closing Costs" A real Manhattan real estate novel 2007-09-21 11:23:00 Last year at one of our weekly sales meetings we had a special guest Seth Margolis who gave a reading from his latest novel
"Closing Costs
"."Closing Costs" is a novel about today's Manhattan
real estate market through the rise and fall of the character's fortunes. Real estate turns out to be their only real asset."Closing Costs" recently came out in paperback by St. Martins Press. In the current issue of The Real Deal Linden Lim gives "Closing Costs" a rave review and reports that the novel has generated interest with filmakers. I can't wait for the movie.Margolis, a long-time Manhattanite is married to an agent in my office Carole Zelner. The lead character Lucinda Wells, one of Manhatttan's most successful and ruthless agents is not based on his wife Carole. Although Carole is a successful agent, she is way too nice to be ruthless. Besides Carole was not even in real estate when Seth began writing the novel.One of the characters Peggy Gimmel decides to sell her classic seven apar
Recommend Site To A Friend
