Showing posts with label Apartments. Show all posts
Showing posts with label Apartments. Show all posts

Jun 5, 2014

Brewer Writes Mayor to Reject Airbnb's Business Model

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Manhattan Borough President Gale A. Brewer is calling on City Hall to reject Airbnb’s business
model and fight its efforts to legalize the now illegal use of apartments for commercial use.

In a letter to Mayor de Blasio, Brewer warns that using residences as unregulated hotels risks further reducing the number of affordable and rent-regulated apartments in the City – right when they are most needed. The practice also creates unsafe conditions for the renters, neighbors, and visitors, she adds.

"The Administration must not jettison the tenant protections embodied in the current laws and regulations or accept payment on illegal activity that violates tenants’ rights," Brewer writes.

"In addition to the dangers and nuisances posed by Airbnb’s business model, the illegal hotel industry keeps substantial numbers of affordable housing units off the market. Many tenants, seeking additional income, avail themselves of Airbnb’s services and put themselves at risk of eviction." according to Brewer.

In the face of the State Attorney General’s intense investigation and subpoena of their records, Airbnb has recently revealed another strategy: to begin collecting hotel taxes on the transient use of residential apartments. They claim that this revenue will be sufficient to fund the Administration’s plans for the creation of new affordable housing. 

"New Yorkers who have chosen, and by their leases contracted, to live in residential buildings have the right to quiet enjoyment of that condition, and the protection of the laws that define such housing" according to Brewer.


Oct 6, 2013

Cathedral of St John the Divine building Apartments

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Churches sell buildings and parcels to real estate developers

The General Theological Seminary, an episcopal seminary in Chelsea, has sold another building to the Brodsky Organization, a large Manhattan-based residential management and development firm.

The religious organization has been in the process of selling a number of buildings to the developer to convert to luxury condominiums since 2010, when it encountered financial trouble. The seminary just sold 445 West 20th Street, between Ninth and 10th avenues, to Brodsky.

Now The Real Deal reports The Cathedral of St John the Divine in Morningside Heights will be building apartments on its Upper West Side property. 428 residential apartments, at Amsterdam Avenue and 113th Street.  The project would rise 15 stories, or 149 feet.


The two-building project, undertaken to support the cathedral financially, will be constructed under the 80/20 Housing Program (which allows for 80 percent market-rate while requiring 20 percent affordably-priced apartments)

The church signed an agreement last month with Brodsky, to lease the parcel. Brodsky will pay rent for the land, but the religious organization is not co-developing the site nor will it profit directly from the apartment building, 

Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.




Cathedral Church of Saint John the Divine, an awesome landmark in Morningside Heights.
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.

- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.

- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world
- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.

- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf
Located at 1047 Amsterdam Avenue New York, NY 10025 (between West 110th Street, which is also known as "Cathedral Parkway", and 113 Street) in Manhattan's Morningside Heights, the cathedral is claimed to be the largest cathedral and Anglican church and third largest Christian church in the world.

- See more at: http://activerain.com/blogsview/1893458/speechless-sunday-awesome-cathedral-of-saint-john-the-divine#sthash.rh6aj7PL.dpuf

Dec 26, 2011

Riverside Drive - Upper West Side

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Riverside Drive Apartments and Townhouses
The Normandy


Along Riverside Drive on the Upper West Side, there are some grand scale apartment buildings with magnificent river views to match the street's name.

Riverside Drive in the 70s, 80s and 90's have their share of “Classic Six” prewar apartments and “Classic Seven,” apartments two and three bedroom apartments with formal dining rooms and maid's rooms.

Riverside Drive is one of Manhattan's most desirable neighborhoods. Many of the pre-war apartments have direct Hudson River and Riverside Park views.

Riverside Park is widely regarded as Manhattan's most spectacular waterfront park. As one of only 10 officially designated scenic landmarks in the City of New York, it has a long and storied history.
Riverside Drive, Riverside Park, Hudson River
40 Riverside Drive
In 1865 a scenic drive and park was built on Manhattan's Upper West Side.

The development of the park encouraged the construction of mansions along the drive.

Today Riverside Drive is made up of handsome grand prewar buildings, mansions and townhouses.

Current available apartments for sale on Riverside Drive range from small studios in the mid $200,000's to a 4 bedroom 3 bath pre-war coop for $3,450,000 to an Eight bedroom 4742 square foot post war condo asking $10 million.

Current available townhouses for sale on Riverside Drive are a Single family 7500 gross square foot  26' 3" x 54'6 six story home asking $12, 500 to Multi-Family 9400 square foot 32' x55' 5story building with elevator asking $17,000,000.

Contact me at 917-312-0924 if you're interested in purchasing an apartment or townhouse on Riverside Drive or if you are thinking about selling your home on Riverside Drive.

Nov 26, 2011

Awesome Apthorp Apartments - 'Tis the Season!

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The Apthorp390 West End Avenue - West 78th and Broadway 
The elegant full-block apartment complex built by the Astor family for the New York elite.

The History

• Built in 1908
• The vision of William Waldorf Astor, executed by architects Clinton and Russell
• Listed on the National Register of Historic Places
• Italian Renaissance Revival architecture
• Richly ornamented limestone fa├žade
• Iconic iron entry gates
• One of four private courtyard drive pre-war buildings
• 163 condominium residences

Active Today

Current available condo apartments: One, two, three, four and five bedroom apartments range from a 1031 square foot one bedroom one bath asking $2,100,000 to a 5 bedroom 5.5 bath 6,128 square foot residence asking $14,950,000
Contact me @ 917-312-0924 to schedule showings or click here to receive listings via email at Apthorp or any other Manhattan New Development or conversion.

Sep 18, 2011

Apartments on Central Park West

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Views fromCentral Park West Apartments
View from 25th Floor San Remo Tower Penhouse

Central Park West runs along Central Park from west 59th street to West 110th street. The 8th Avenue subway B & C trains run along Central Park West.

Upper West Side zoning does not permit buildings to be taller than approximately 20 stories between 72nd and 96th Streets except the Art Deco Twin Tower buildings from the 1930's on Central Park West. The set back towers can go up to 30 floors.

 San Remo Towers, Brownstones

The buildings are mostly pre war buildings. The Upper West Side's Central Park West is home to some extraordinary buildings. Landmarks of Art Deco, Beaux Arts, or Gothic Revival architecture, the great celebrity apartment buildings of Central Park West have many famous residents and the side streets are lined with trees and 19th century townhouse mansions and brownstones.

The Upper West Side is populated with some of Manhattan's most famous and desirable residential buildings, many are located on Central Park WestThe Dakota, El Dorado, The San Remo Apartments,  The Oliver Cromwell, The Langham, The Kenilworth, Hotel Des Artistes, The Beresford, The Ardsley and the new post-modern 15 Central Park West feature spectacular apartments may with breathtaking stunning Central Park views.

The Ardsley
The Ardsley 


iPhone photos courtesy of:

Nov 4, 2010

All Square Footage in Manhattan is Just an Estimate

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I've been asked if there are any rules in determining square footage in apartments and townhouses.
We all know that buyers of apartments and townhouses in New York City often look to the approximate square footage of a property as a measurement for a property’s value. Indeed, often one of the key factors for a buyer in their decision to purchase is a calculation of the cost or price-per-square foot of an apartment or townhouse.

It is important to keep in mind, however, that the approximate square footage of an apartment is often just that – an approximation. Different appraisers or professionals may use different methods or standards in coming up with their square footage figures. Some will determine square footage of an apartment by measuring the space between the interior walls, including bathrooms, closets and foyers, while others may use exterior walls or other benchmarks. Some will include unusable floor area such as columns, mechanical pipe shafts and chases in their calculations. Moreover, many Manhattan apartments, including pre-war buildings, often have hard-to-measure elements like oddly shaped rooms, removed walls, or even turrets or alcoves. This is especially true for many of New York City’s oldest and most prestigious residences.

In addition, while many cooperative apartment buildings may have filed floor plans with the Attorney General’s office as part of their offering plans, those floor plans may not be up to date. Condominium offering plans also include floor plans and measurements, but developers often use different methods for measuring the square footage of their respective units. For example, some will include hallways or foyers or bathrooms in their square footage figures, others will not. Offering plans will only tell you the approximate square footage and the method used to measure it by the developer at the time of construction or conversion. Plans will not tell you how the square footage is measured at the time of a resale.

All potential purchasers should be made aware that all square footage measurements that are provided by brokers are usually just estimates, and are not certified or deemed reliable by either the listing firm or a participating co-broker. In addition, a buyer determined to have a square footage measurement should consult or retain their own professional, and have that professional explain the methodology for the measurement.

Oct 6, 2010

Price per Floor in Manhattan Condos and Coops

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A buyer and seller recently asked what is the price differential for each floor of the same line in a Manhattan apartment?

In Manhattan there are many variables in determining the price differential for each floor. A beautifully renovated apartment on a lower floor can easily sell for a higher price than an "original condition" apartment on a higher floor. The parlor floor in a townhouse may be worth more than the 4th floor if it's a walk-up.

Views tend to be better on higher floors but that is not always the case. Unless the building owns the air rights over neighboring buildings views change in Manhattan. Higher floors usually have a premium as do views. Both premiums can often be separate. When pricing or determining value in Manhattan it is crucial to compare apples to apples.

All coops and condos in Manhattan have an offering plan. In the original offering plan whether new construction or conversion, the developer/sponsor put a price differential for each floor and unit in the building. The sponsor determined premiums for each unit. Since all offering plans are from different years and during different market conditions, I like to think in terms of percentages rather than an exact number.

For example, if you're considering purchasing or selling in a building that was built or converted in the 80's, you can figure out the approximate percent of the premium. If the same apartment, line, and square footage was selling in the $200,000 range originally and today the same apartments are selling in the $800,000 range, the apartment today is worth 4x more. If they're in the million dollar range 5x.

The premium for floor differential is 4x more whatever it was in the offering plan. If it was $2000 per floor in the offering plan, than it would be around $8000 per floor today providing the comparable apartments are otherwise the same. Million dollar range $10,000 range per floor.

In today's transparent information age there are many online tools designed for automated instant home values. Take them all with a grain of salt.  In Manhattan pricing is as much an art form as a science. Pricing is a function of marketing, the price you get is a function of the marketing you choose.


Jan 3, 2009

Tips for Greening Your Manhattan Apartment

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In spite of the cold weather, "Be Cool" Go Green!
Here are some simple ideas that will help the environment and might actually save you money.
  1. Recycle according to your building's guidelines.
  2. Upgrade appliances. Modern appliances are more efficient than older ones.
  3. Unplug chargers and appliances such as VCR or a coffee maker when you're not using them. Believe it or not, left plugged, these appliances take up energy. You'll actually save on your electric bill. And when buying appliances, look for the "Energy Star" label.
  4. Switch to a green energy provider: http://www.askpsc.com/ or call 866-GRN-POWR
  5. Switch to ENERGY-STAR - qualified compact flouresent light bulbs (CFLs)
  6. Bring a cloth or canvas bag to the supermarket
  7. Switch to paperless bank statements
  8. Recycle unwanted electronics, computers monitors and printers through one of the retailer or manufacturer-sponsored, take-back programs below. Beginning July 2009 NYC law will require all electronics manufacturers to adopt e-recycling programs.
Manufactures Take - Back Programs:
  • Cannon: 800-385-2155
For home renovations, go to www.environmentalhomecenter.com, where you can purchase green building materials such as paint, countertops, flooring, cleaning supplies, etc. The www.thegreenguide.com has useful, practical everyday living information.
And finally if you're ready to live in a new green (LEED) certified condo recently built or currently under construction in Manhattan - go to my new developments page on my website fill out the buyer form and write green in the comment section. I will send you email listings of green condos that match your buying criteria.
Courtesy of: New York State Assemblymember Linda B. Rosenthal: 212-873-6368 - Rosenthal@assembly.state.ny.us

Aug 26, 2007

Columbia, NYU; Apartments - Real Estate Empires

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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 phase 1 to be completed by 2015.
The new campus will utilize and convert some existing manufacturing plants in the Manhattanville industrial section including the old Studebaker plant. Open public roads and spaces through the Manhattanville campus will connect West Harlem to the Hudson river waterfront.

While there has been growing community opposition both school's strategy is to build prestige by buying up real estate in an effort to recruit top faculty and students from around the world by offering apartment housing perks in Manhattan.

Many community leaders feel both these private non profit institutions are benefiting at tax payers expense by reducing the city tax revenue by taking so many buildings off the city's tax rolls.

There is no doubt that Columbia and NYU bring cultural, scientific and intellectual prestige to NYC. Many graduates will choose to live in NYC as their careers will be here. They will pay city and state income tax. They might even start whole new industries. They will buy real estate.

Manhattan attracts graduates from top schools from all over the country and abroad. More than 50% of Wharton Business School's class of 2007 have moved to Manhattan.

To all the new students entering NYU, Columbia and all the other fine undergraduate, graduate, law schools and med schools throughout NYC, I wish you all much success.

Parents from all over the country are investing in Manhattan real estate while their children are attending schools here. Many parents are buying condos for their adult children and for themselves and other family members.

For many it is a great investment. Children get housing while in school and starting their careers, the parents get a great asset and a pied-a-terre in Manhattan.

To search Manhattan MLS listings ~ To receive ALL Available Apartment listings emailed.
 
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This blog site is designed and published as a consumer service by local real estate broker to help Manhattan, New York City buyers, sellers and renters make informed real estate decisions. This site and its feeds are owned and operated by Mitchell J Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.

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