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Columbia, NYU; Apartments - Real Estate Empires
2007-08-26 19:16:00
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 wit...
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Manhattan Real Estate Market and Mortgage Update
2007-08-25 02:34:00
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 th...
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Real Estate "Queen" Leona Helmsley Dies
2007-08-20 10:59:00
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 wo...
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Conversion Update: Apple Bank Building
2007-08-19 04:54:00
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
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New Construction Update: Gramercy by Stark
2007-08-18 04:22:00
Gramercy Y00 by Stark 340 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
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New Construction Update: Soho
2007-08-17 04:02:00
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
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New York Real Estate TV
2007-08-15 22:52:00
Manhattan Real Estate Blog - nyc BLOG estate http://rpc.technorati.com/rpc/ping
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Wachovia Upper West Side - Coop Equity
2007-08-09 23:40:00
A new Wachovia Bank Coming Soon to 2330 Broadway on The Upper West 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 Side rs 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 Coop s.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 Line...

Midtown West: Residential Construction Update
2007-08-08 04:34:00
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 feature...
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The Ansonia - 2109 Broadway
2007-07-22 05:13:00
The Ansonia - 2109 Broad way - Upper West SideWhen The Ansonia opened in 1904 it was called:"the most technologically advanced apartment house in the world"Loaded with towers, mansard roofs, ornate balconies, balustrades, and bay windows, the Ansonia is easily Broadway's most opulent structure. When it opened in 1904, this extraordinary, eighteen story Beaux Arts building provided tenants with such luxuries as electric stoves, hot and cold filtered water, freezers, a pneumatic -tube system to deliver messages, and even an early form of central air conditioning. The building also had incredibly thick walls installed to protect against fire, which meant Ansonia suites were among the most soundproof in the city. This is the reason many famous musicians took up residence in the building. The building has a plaza in the lobby with two entrances on west 73rd and west 74th streets. A swimming pool and garage are in the basement. The building is located on a curve in Broadway and is visible...

"Market Data" on Website
2007-07-18 14:30:00
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
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Harlem: New Residential Developments
2007-07-17 21:39:00
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
More About: Residential , Develop , Resident

Kitchens and Baths: What's Hot and What's Not
2007-07-15 19:49:00
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 k...
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$225,000 Parking Spot: If you're lucky
2007-07-14 20:07:00
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. Eac...
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Manhattan Market Still Rising: 2Q-07 Update
2007-07-07 06:56:00
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...
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Quiet in NYC: New quiet rules effective today
2007-07-01 18:57:00
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 ...
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New Manhattan Avenue Historic District
2007-06-29 13:42:00
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 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 histor...
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NYC Property Tax rate Reduced for 2008
2007-06-29 04:45:00
City to Reduce Prop erty 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
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In the ZONE: "congestion pricing"
2007-06-26 06:21:00
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 Manhatta...
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Coop Rights Bill: Update
2007-06-23 22:15:00
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...
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High Line Update
2007-06-22 06:35:00
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...
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