Manhattan, NY Real Estate News

By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
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 some 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...
Comments 16
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
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 lik...
Comments 10
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
You all know by now I love my "job" AND I love New York City.  Perfect combination for me!  Coming out of a consultation one day on the Upper East Side, I decided to walk back to Penn Station for my train home and thought of getting a "dirty dog" along the way  --  Hot Dogs from the carts in New York are called Dirty Dogs, I believe because the water they are in gets so dirty :)  But then you never know what you're going to run into.  I didn't get home until the evening because as I was walking, something caught my eye; and not being one to let anything get past me, I decided to go over and see what was going on.  Thank GOODNESS I had my camera because I can show it!  So what else does a Feng Shui Consultant do?  We run into the best things and have FUN.  I thought I'd share my afternoo...
Comments 18
To sample restaurants in a neighborhood you might be thinking of moving to, take advantage of Restaurant Week In Manhattan 2007  ... The Best Restaurants ... The Best Prices!For ten days in January and ten days in June/July, more than 100 of New York City's top restaurants offers three course lunches for $24.07 and three course dinners for $35.00 (beverage, tax and gratuities are not included.) Dine at the best New York City restaurants with the best chefs! Whether it's at Mario Batali's Del Posto,  Morimoto New York, Patroon, 21 Club, Spice Market,  Daniel Boulud's Café Boulud, 21 Club, One If By Land Two If By Sea, Nobu, Asia de Cuba, Aureole, The River Café, Aqauvit, or Danny Meyer's Gramercy Tavern, Eleven or any of the other restaurants offered, you can't go wrong. You'll not only ...
Comments 0
By Joe Boylan
(SpringsHomes)
N.Y., N.Y. was my college town...and I went to a school that at the time had no dorms! (not uphill both ways but "A-Train" both ways) Our choices were live at the “Y” (the Village People eliminated that option, at least for me) or get out there with the rest of N.Y. and find an apartment. I chose the latter. At the time I was too young to realize how difficult this actually was. I ultimately found an Illegal, Rent Controlled sublet (huge score for a student). The place was in Washington Heights. That experience instilled me with a STRONG interest in NYC Real Estate. I still follow NYC real estate trends and news with regular reads of Curbed, Brownstoner, Matrix and Property Grunt but my favorite NYC Real Estate site is StreetEasy, great site. Street Easy is the first site I’ve seen to a...
Comments 1
July 3, 2007Co-ops Slip, but Condos Lead Rise in Manhattan Apartment Prices By HYPERLINK"http://topics.nytimes.com/top/reference/timestopics/people/h/christine_haughney/index.html?inline=nyt-per"CHRISTINEHAUGHNEYWhile housing prices are falling in many parts of the country, the cost of aHYPERLINK"http://topics.nytimes.com/top/classifieds/realestate/locations/newyork/newyorkcity/manhattan/?inline=nyt-geo"Manhattanapartment is continuing to rise over all. But a stark divide is emerging between theprices of co-ops and condominiums. More buyers are choosing condominiums over co-opsand are paying far more for them, according to studies being released today.The average price of a condo in Manhattan rose by as much as 28 percent in thesecond quarter of this year compared with last year, accord...
Comments 1
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
"Don't it always seem to go that you dont know what you've got til it's gone.... They paved Paradise and they put up a Duane Reade Walgreens  (Joni Mitchell -Big Yellow Taxi - 1970) The other night I called The Malaysia Grill a restaurant at my corner for dinner they told me they were closing. This morning I went to my local Korean produce grocery store right next to The Malaysia Grill where I have been going for at least the past 10 years and the place was gutted. The Korean family that owns the place were packing up. I asked what happened even though I knew. I knew it was a only a matter of time before the whole block would be rented to a big chain and all the little stores would be gone. The landlord had been advertising the corner, block and storefronts for a while. It's the trend. ...
Comments 25
By Michael Drori
(BARAK REALTY)
Navigating the Manhattan Rental MarketRenting an apartment in Manhattan is a unique process unlike anywhere else in the world.  It is important that one be familiar with Manhattan rental requirements prior to beginning one's search, as this will ensure a positive experience from beginning to end. This guide outlines the steps you should take and things you should know when searching for an apartment.1.      Rental RequirementsAs a general rule of thumb, landlords require that rental applicants have an annual salary equal to or higher than 40 times the monthly rent.  For example, if the monthly rent is $1000, than one's salary must be at least $40,000.  If you plan on sharing an apartment with roommates, then your combined income must be at least 40 times the rent.If you are a working pr...
Comments 0
By Michael Drori
(BARAK REALTY)
Seller's GuideIf you want to Sell your Property:Selling your home can be as stressful as it can be exciting, but the right agent with the right personal touch and the right amount of experience can make it fun and lucrative to find the right buyer. If you choose to give an exclusive to BARAK Realty, you'll not only get the agent you prefer, you'll also get the support of our whole team of brokers. At BARAK we have a way of working that benefits you more than the average realtor can. With teamwork. But no matter what broker you choose, be sure the company is legitimately licensed, experienced and a member of REBNY (Real Estate Board of NY). We take pride in our personal service and 24/7 accessibility. Our goal is to sell your property for the highest price in the shortest time, and with ...
Comments 0
By Michael Drori
(BARAK REALTY)
 Buyer's GuideWhether you are in the market for a co-op, condo, or investment property, we're your team. BARAK Realty works as other real estate companies do not: we dedicate all of our brokers and all of their varying talents to your goals. Our method of teamwork has gotten dreams to come true for a growing number of satisfied clients. BARAK Realty has access to a large and updated database of listings through our own exclusives and through our co-brokerage system with all of Manhattan's licensed brokerage firms. We are always attentive to your specific needs and will show you only properties that fit your guidelines. Once you find your dream apartment, we will guide you through your contract, financing, and board approval process. We will make the perfect board package for you to pass...
Comments 0
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
New NYC quiet law begins today. 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: Traffic Dogs Barking Mr. 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 b...
Comments 19
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
NYC 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 are in addition to the $256 million in $400-per-homeowner tax rebates requested by the City and approved by the State Legislature last week. The city has been sending $400 reebate checks to homeowners for the last few years.
Comments 0
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
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 Manhattan Avenue 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 t...
Comments 5
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
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 reason "qualit...
Comments 3
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
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 in Manhattan.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 ...
Comments 4
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
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 business districts. They are saying that it could add an extra sense of exclusivity to what is already some of the most expensive residential real estate in the country.Mayor Bloomberg's plan for what he calls "congestion pricing" would impose fees of up to $8 a day for cars and $21 a day for trucks driving below 86th Street between 6 a.m. and 6 p.m. on weekdays. Instead of setting the boundaries at the entrance to midtown Manhattan at 59th Street or at the bridges and tunnels entering Manhattan the bounda...
Comments 2
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
Let me say first that I have to get personal with my clients.  Sometimes VERY personal.  If I don't know what their particular issues are, I am not going to be able to help them as best I can.  Most of my clients fully understand this and I am always careful to be two things:  HONEST (as I see things) and MINDFUL.  Sometimes achieving both is a difficult balance.I am also a Sagittarius.  Which means in most cases we suffer from "Hoof and Mouth Disease" or always putting our foot in our mouths.  So I'm careful to try the best I can to work around that as well....it's a fineline.  About two months ago I did Feng Shui Consultation for a lovely couple in New York City, right in Midtown Manhattan.  And I ask questions:  The history of the home/apartment and if they knew why the former occupa...
Comments 18
By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
I received a call tonight from an old friend who now lives in Syosset.  A friend from Junior High School, we had spent all of our High School years together and I recalled a wonderful post I had just read by Jo-Anne Smith Who Are The 'Forever' People in Your Life?   Although I did not know it at the time, Donna was to become one of my few treasured "Forever People."  She called because she had just dressed and sent her daughter off to her Prom which made her nostalgic; she said she was thinking of US and the prom we had gone to with our old dates and the fun we'd had that night.  We spoke at length, first reliving the old days and catching up with the new.  She is in a good place in her life right now and I realized, so was I.  Although we followed vastly different paths and both had ou...
Comments 6
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
Fujifilm joins Friends of the High Line with Portrait project Hundreds 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 structu...
Comments 2
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
 1871 Originally Grand Central Depot Reborn "Grand Central Station" Constructed of glass and steel, it rivaled the Eiffel Tower and Crystal Palace as one of the most dramatic engineering achievement of the 19th century. When the steam locomotive era ended the existing station was demolished to create a new double level terminal for electric trains. 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. During the 1920's, hotels and apartment buildings began to rise on Park Avenue, skyscrapers simultaneously were erected along East 42nd Street. On Lexington Avenue, the Hotel Commodore opened  and the Graybar Building and Chrysler building each with a passageway connection to Grand...
Comments 20