Showing posts with label new construction. Show all posts
Showing posts with label new construction. Show all posts

Sep 12, 2014

New Construction: UWS | 210 West 77th Street

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210 West 77th Street
 210 West 77th Street

An 18 story, 25 unit 1/2 floor and full floor condominium residences are being designed by Thomas Juul-Hansen for developer The Naftali Group.

Units range in price from $4.9 million to $12 million from 2,058 square feet, for 1/2 floor unit to a  4,919-square-foot 5BR/5.5BA "townhouse" duplex with a 1,280-square-foot terrace. 

There will also be a $10 million full-floor 4BR and a $7.05 million half-floor unit on the 10th floor. 

Building amenities will include a 24-hour doorman, roof terrace, fitness center, party room, and bike storage. The kitchen features Miele appliances, Everest Grey quartzite countertops and backsplashes, white lacquer cabinetry, 2 sinks, a separate wine cooler and a vented overhead fan. All units also have Whirlpool washer/dryers and 5" white oak floors.




 
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Aug 20, 2014

New Construction Update: UWS | 80th and Broadway

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2234 Broadway
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street on the Upper West Side where a 2 story commercial building now stands according to TRD.

The 2 story commercial building was formerly the location of Lionel Leisure City and Filenes Basement.

The landlord and developer has requested a demolition permit for 2228-2236 Broadway. TRD reported the tower planned for the site will include retail space and luxury apartments. The residential units will be either rentals or condominiums and most will have balconies.
requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.  - See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.B2fnjYrx.dpuf

2228-2236 Broadway

Freidland properties also developed the nearby Larstrand at 227 West 77th Street, a 20 story, 181 luxury rental apartment building at Broadway at 77th.

Larstrand 227 W 77th St.


The Larstrand features a mix of studio, one, two and three bedroom
rental apartments.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.  - See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.ZcsJVJ2B.dpuf
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.  - See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.ZcsJVJ2B.dpuf
The residential units will be either rentals or condominiums and most will have balconies.  - See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.ZcsJVJ2B.dpuf
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street, where a two-story commercial property now stands.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.
- See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.dpuf
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street, where a two-story commercial property now stands.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.
- See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.dpuf
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street, where a two-story commercial property now stands.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.
- See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.dpuf
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street, where a two-story commercial property now stands.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.
- See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.dpuf
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street, where a two-story commercial property now stands.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.
- See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.dpuf
Friedland Properties is planning to put up a 20-story mixed-use building at 2234 Broadway at West 80th Street, where a two-story commercial property now stands.
Friedland, both a landlord and a developer, has requested a demolition permit for 2228-2236 Broadway; the tower planned for the site will include commercial space and luxury apartments. The retail portion will cover two floors above ground and two floors below. The residential units will be either rentals or condominiums and most will have balconies.
- See more at: http://therealdeal.com/blog/2013/11/06/friedland-slates-mixed-use-tower-for-80th-and-broadway/#sthash.HMl8KLcb.dpuf

 
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Aug 15, 2014

NYC Residential Building Permit Comparison

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REBNY Research department (Real Estate Board of New York) compared the peak year for housing production (new units of housing permitted) before the recession (generally 2005-2008) in New York, San Francisco, Boston, Seattle, and Washington D.C. with their housing production in 2013. 
 
New York City has by far the largest population and the most housing units of any of these major U.S. cities.

Of these five cities, New York is the only city whose production has not reached its pre-recession peak.  However, building permit levels are on the rise in NYC for 2014, up almost 2,500 units from the same time last year.  

If NYC experiences the same level of increase in building permits in the second half of 2014 as it did in 2013, its annual total will compare positively with the average annual new housing unit permits we achieved in the last decade.  The last decade was the highest annual average in thirty years.  








 
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Jul 25, 2014

New Construction Update | Upper West Side

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219-223 West 77th Street
 New Construction Update | Upper West Side

Plans to demolish a five-story parking garage on the Upper West Side were filed with the Department of Buildings. The Naftali Group, a developer is expected to build residential condominiums on the site according to The Real Deal.

The developer is in contract for the site at 219-223 West 77th Street for $61 million, or about $792 per square foot. The garage also includes Alamo and National car rental services.

The 7,700-square-foot lot, between Amsterdam Avenue and Broadway, features 75,000 square feet of build-able space. The deal is expected to close by September. No brokers represented Naftali.

The Naftali Group is working on several condominium projects in Manhattan, including the nearby 25-unit property at 206 West 77th Street.

 
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Jun 18, 2014

New Construction | Lincoln Square | Upper West Side

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First came the Lincoln Towers complex built in the 1960's along with the development of Lincoln Center. The eight Lincoln Towers buildings are situated on a 20 acre campus in the middle of Manhattan's Upper West Side between West 66th and West 70th Streets conveniently located near Lincoln Center, Central Park and Riverside Park. The apartments facing west had spectacular Hudson river views.

Then came Riverside Boulevard the new west side neighborhood that extends along the Hudson River from West 59th Street to West 72nd Street on 92 waterfront acres, formerly occupied by the Pennsylvania Rail Road yards. Donald Trump bought the property back in the 1970's. The buildings range from 30 to 40 stories, and the waterfront park covers 23 acres. The first building was completed in 1998. Now the buildings along Riverside Boulevard feature spectacular Hudson River views.

The latest building 50 Riverside Boulevard is currently selling and 40 Riverside Boulevard, under construction  is to have 33 stories. There has been some controversy over the separate entrance slated for the 59 units designated "affordable" for low income households from the projects 219 apartments. The last building will be the five-tower complex designed by Christian de Portzamparc for the super block between 59th and 61st Streets. 

Now coming to the East of Lincoln Towers rising on Amsterdam Avenue at 170 Amsterdam Avenue between West 67th and West 68th Streets is an unusual looking building. It will have 20 floors with 239 units. Currently it has not been announced if the apartments will be rental or condo units.


Rendering 170 Amsterdam Avenue


The unusual architecture, a cross-hatched tower from Handel Architects is because the building's massing and design are driven by the site’s long, narrow shape. The solution moved the building’s structure to the exterior in the form of an exoskeleton, freeing up space on the interior previously occupied by columns.

Rendering 170 Amsterdam Avenue



 
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Jun 11, 2014

New Development Update | 732 West End Avenue

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732 West End Avenue
New Development Update | 732 West End Avenue | UWS
732 West  End Avenue  New Construction Three & four bedroom full floor luxury condos 

732 West End Avenue is the Upper West Side’s and West End Avenue's new condo development address. Each of the fourteen residences are accessed by the building’s privately keyed elevator which opens on a full floor home designed in concert with Baltimore Design Group.

Residents step off the private elevator into a vaulted- ceiling foyer, a few steps on the oak wood floors and the foyer opens into an expansive living room with a gas fireplace and stunning views of the Hudson River. Each kitchen is fully equipped with world class appliances and wine storage.

Plaster crown moldings and deep wood base boards surround each of the three bedrooms and the master bedroom opens onto a private terrace. Washrooms are uniquely designed and fitted with marble, stone, tile, and glass. The duplex garden level apartment and the triplex penthouse level apartment boast a more expansive outdoor environment including stunning river views from the fifteenth floor aerie.

Tree- lined West End Avenue is conveniently located between Broadway and Riverside Drive and all public transportation. While set apart from the hustle and bustle of the New York City streets, the address maintains proximity to New York’s culture, entertainment, restaurants, and shops.



732 West End Avenue
The full floor 3 and 4 bedroom condominium apartments range from $2,625,000 for a 3 bedroom 3 bath 1,777 square foot unit on the 3rd floor to $8,000,000 for a 3,190 square foot 4 bedroom 4.5 bath triplex penthouse with two private terraces and spectacular river views.

Please contact me for more information or to schedule viewing appointments.

Manhattan New Developments




 
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Feb 22, 2014

REASONS TO BUY NEW CONSTRUCTION IN MANHATTAN in 2014

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TOP 10 REASONS TO BUY NEW CONSTRUCTION IN MANHATTAN


1 THERE HAS NEVER BEEN A BETTER TIME With fewer developments on the market and interest rates still at historic lows. 

2 BRAND NEW EVERYTHING Be the very first to live in your home and enjoy brand new infrastructure throughout.

3 COMPETITIVE PRICING Developers have a realistic understanding of the market and prices to match.

4 EASE OF OWNERSHIP Benefit from a hassle-free purchase process with no board packages, interviews, and use your residence however you want—live, rent, or pied-à-terre.

5 INTELLIGENTLY DESIGNED Modern room proportions, high quality materials, and windows that maximize light and air add up to a home that complements your lifestyle.

6 IMMEDIATE OCCUPANCY There is often no need to wait to move in—your brand new home can be ready right away.

7 HEALTHY HOME Green features make your life healthier, and energy efficiency benefits you and the environment.

8 STATE OF THE ART LIVING Your home is outfitted with top of the line materials, the most up to the minute technology, and all the little extras that make life easy.

9 CREATE A COMMUNITY Move in together, and build a community with your neighbors.

10 THE FULL PACKAGE Your home is more than just your condominium—it’s the fitness center, outdoor space, and private lounges, not to mention the doorman and concierge, at your service.

It's time to say Good-Bye to 2013 and Hello to 2014. Looking forward to a brand new start. There is nothing better than a brand new home in a brand new year.

It is important to have an experienced buyer's broker represent you in New Developments. On-site sales agents represent the seller/sponsor/developer's interests.

Click here to receive new development listings
Call me at 917-312-0924 or email me to schedule showings

 
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Feb 7, 2014

One Riverside Park | 50 Riverside Boulevard

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New Development | Under Construction
One Riverside Park | 50 Riverside Boulevard

50 Riverside Boulevard one of the last residential buildings at Riverside South will be considerably glassier than it's neighbors to the north according to the projects designers at Goldstein Hill & West Architects.

The new residential tower rising at 50 Riverside Blvd. will be 35-stories high with a stone base but but transition into more glass as it rises and boast more glass than any of the other new buildings north of it on Riverside Boulevard. When completed It will have an appearance of a curtain wall. It will look cleaner, sleeker and more beautiful.

One Riverside Park is New York’s most distinguished new address, introducing a new level of luxury to waterfront living on Manhattan’s Upper West Side. Forever views, the finest finishes, unmatched amenities and the largest residences on Riverside South complement the serene interiors of lauded designer, Shamir Shah.


Additional features of this new development include: Entertainment Room with Catering Kitchen, Indoor Playground by Kidville, LA PALESTRA Athletic Club & Spa, On-Site Parking Garage, Resident Lounge, Riverside South Shuttle Service, and Screening Room. 

Sales are underway. Current units avaialble for sale rang from a 1,410 square foot 2 bedroom, 2 bath for $1,910,000 to a 5,739 square foot 7 bedroom 9.5 bath home asking $25,750,000.

One Riverside park is being built directly south of The Aldyn, Extell's new 40 story luxury condominium and rental building, now selling on Riverside Boulevard.
















 
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Jul 29, 2013

35 XV | 35 West 15th Street | Flatiron District

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New Development Update: New Construction | Flatiron District


35 XV, located at 35 West 15th Street

35 XV is a new 25 story luxury apartment building located in the Flatiron District, offering residents modern amenities just steps from Union Square.

This post-war high-rise has 58 residences and a variety of one to four bedroom apartments. The building is surrounded by classic Flatiron District favorites including the Gershwin Hotel and offers convenient access to the districts famous luxury shopping destinations.

35 XV, located at 35 West 15th Street, features a full time doorman in addition to built-in closets and oversized windows. The bathrooms feature an over sized mirror, bathtub and vanity while the kitchens come fully equipped with a gourmet chef kitchen and stainless steel appliances.

Built on the site of a former union hall, the 35 XV condominium at 35 West 15th Street will be a tower of glass and stone, distinguished by a gentle inward slope starting on the 11th floor. Developer is Alchemy properties designed by FXFOWLE. 

35 XV captures the modern aesthetic through the use of unique angles and glass-curtain walls.
The condominium is Alchemy’s most expensive condo project yet. The property was purchased for $16.6 million, and the air rights from the nearby Xavier High School cost an additional $13.7 million. 

The units interiors are being designed by the renowned Benjamin Noriega-Ortiz. The building will feature one-to-four bedroom apartments. Current underway available units for sale range from a 951 square foot 1 bedroom, 1.5 bath asking $2,170,000 to a 3,831 square foot 4 bedroom, 3.5 bath home for $12,6750,000. The building is scheduled for completion in 2014.

To request a showing and get more information of the available apartments contact me or click: nycNewDevelopments.



 
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Jul 5, 2013

732 West End Avenue - Townhouse to 14 Luxury Condos

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732 West End Avenue


732 West  End Avenue 


New Construction

14 three & four bedroom
full floor luxury condos












 Unique, luxurious, and historic, 732 West End Avenue is the Upper West Side’s and West End Avenue's newest condo development address. Each of the fourteen residences are accessed by the building’s privately keyed elevator which opens on a full floor home designed in concert with Baltimore Design Group.

Residents step off the private elevator into a vaulted- ceiling foyer, a few steps on the oak wood floors and the foyer opens into an expansive living room with a gas fireplace and stunning views of the Hudson River. Each kitchen is fully equipped with world class appliances and wine storage.

Plaster crown moldings and deep wood base boards surround each of the three bedrooms and the master bedroom opens onto a private terrace. Washrooms are uniquely designed and fitted with marble, stone, tile, and glass. The duplex garden level apartment and the triplex penthouse level apartment boast a more expansive outdoor environment including stunning river views from the fifteenth floor aerie.

 

Tree- lined West End Avenue is conveniently located between Broadway and Riverside Drive and all public transportation. While set apart from the hustle and bustle of the New York City streets, the address maintains proximity to New York’s culture, entertainment, restaurants, and shops.




3 bedroom 3 bath 1,777 square feet from $2.728,000







732 West End Avenue
The 14 full floor 3 and 4 bedroom condominium apartments range from $2,728,000 for a 3 bedroom 3 bath 1,777 square foot unit on the 3rd floor to $8,505,000 for a 3,190 square foot 4 bedroom 4.5 bath triplex penthouse with two private terraces and spectacular river views.

Please contact me for more information or to schedule viewing appointments.

Manhattan New Developments






 
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Jun 23, 2013

New Construction | One Morningside Park

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One Morningside Park


A 22 story condiminium is going up on 110th Street and Manhattan Avenue with Central Park and Morninside park views.  Many of the higher units will have outdoor space.

The advertisement is titled: Your West Side Story

One Morningside Park – 240 Manhattan Avenue will be a 22-story, full-service condominium overlooking Morningside and Central Parks. The building is expected to be completed January 2014.

Located on the corner of 110th Street, this brand new condo is comprised of 55 units offering a mix of studios, one, two, and three bedroom homes with many featuring balconies. Two spectacular full-floor penthouses will have private outdoor space and sweeping views of Central Park.

One Morningside Park’s amenities and services will include a 24-hour Doorman, fitness center, common roof deck, laundry, bike room, a limited offering of private rooftop cabanas for sale and a possible 20-year 421-A tax exemption. Occupancy is slated for early 2014.

The Architect is Gf55 partners, developer Artimus construction and sales and marketing for the develioper is Brown Harris Stevens.

Prices are expected to range from the $400,00s for studios to over $2 million+ for 3 bedrooms. A portion of the units are supposed to be allocated as "affordable housing"

For more information about new construction in Manhattan please contact me.
or click here: NYC New Developments



 
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Aug 21, 2012

Manhattan New Developments | FAQ

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WHAT IS CONSIDERED NEW RESIDENTIAL DEVELOPMENT?
In New York, this is a residential offering that is completely new to the market, and must be approved by state and local governments. It includes both ground-up construction and the conversion of an existing structure, such as an office building or rental property.

 WHAT IS A ‘SPONSOR’?
The legal entity that owns the new development being offered—considered “the seller.”

WHAT IS AN ‘OFFERING PLAN’?
A comprehensive disclosure document provided by the Sponsor and approved by the Office of the Attorney General of the State of New York (“Attorney General”) that describes the property’s offering.

WHAT IS AN ‘OFFERING PLAN AMENDMENT’?
A modification to the Offering Plan that is filed with and accepted by the Attorney General. Amendments are issued over time as material changes are made to the Offering Plan.

WHAT IS A ‘PURCHASE AGREEMENT’?
A legal agreement between a Purchaser and Sponsor detailing the conditions of the sale of property, including price and terms.

HOW IS AN OFFER MADE?
Offers are made in writing and submitted to the development’s onsite salesperson by the buyer or their real estate agent.

HOW DOES AN ACCEPTED OFFER GO INTO CONTRACT?
Once an offer is accepted by the Sponsor, the onsite salesperson requests contact information for the purchaser. The Sponsor’s attorney draws up the Purchase Agreement. The Purchase Agreement and Offering Plan are then sent to the purchaser’s attorney for review. Once both parties have signed the Purchase Agreement and the Sponsor receives a down payment, the residence is considered “in contract.”

HOW IS A DOWN PAYMENT MADE IN NEW DEVELOPMENT?
Typically, this is a percentage of the purchase price. Often, it is paid in the form of a certified check or wired into an escrow account set up by the Sponsor’s attorney.

WHAT IS THE DIFFERENCE BETWEEN COMMON CHARGES AND MAINTENANCE FEES?
Common Charges are monthly dues in condominiums, the most common form of new development. Maintenance Fees pertain to cooperatives.

FOR CONDOMINIUM BUYERS, WHAT ITEMS ARE COVERED BY MONTHLY COMMON CHARGES?
Common Charges are the monthly charges allocated to each residence and paid to the condominium in order to cover the pro-rata share of the condominium operating expenses. This does not include the unit owner’s real estate taxes which are billed separately to each owner. As the cost of operating the building changes over time, Common Charges are also subject to change.

New Development Listings

DISCLAIMER: PLEASE NOTE THAT THIS IS NOT A LEGAL OR TAX DOCUMENT OR OPINION. THE INFORMATION CONTAINED HEREIN IS GENERALIZED FOR MANY SITES; BUYERS SHOULD CONSULT THEIR TAX ADVISORS, LEGAL COUNSEL AND THE COMPLETE TERMS AND CONDITIONS OF THE OFFERING PLAN FOR THE PROJECT BEFORE PURCHASING A PROPERTY.


 
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Jan 14, 2012

421a Tax Abatement - Pros and Cons

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The Cooperative and Condominium Tax Abatement Program gives partial tax relief to owners and tenant-shareholders of Residential Class 2 properties.  This is because Class 1 properties (i.e., one-, two-, and three-family homes), are assessed at a lower percentage of market value than Class 2.

The 421a benefits vary depending on factors such as location, method of construction and if requirements for affordable housing have been met.

The tax benefit (421A) bestows property tax breaks for up to 25 years on new multifamily buildings.  It was put in place in the 1970s to spur development. The idea was that developers received a tax abatement passed on to owners in new developments in exchange the developers gave back to the city by building a public space and/or affordable housing units.

Most new developments have a 10 year tax abatement. The 25 year abatement's are primarily in Harlem (empowerment zone) and upper Manhattan. Taxes are already lower there than below 96th street. Depending on the neighborhood on other variables will determine the full non abated tax burden.

The reduced RET real estate tax in most cases increases by 20% every other year. (20% every 2 years) until the 10 years is up, and at which time the property taxes will have hit their maturity.

It is important for a buyer to realize that in 11 years the taxes will be much higher than when they purchase the unit with a tax abatement.

Pros: Reduced property taxes for 10 - 25 years will make the apartment more affordable and possibly increase the sale price in the short-term.

Cons: The new higher tax amount at maturity may decrease the value of the unit. Monthly affordability is part of the equation that determines sale price. Low monthlies often garner higher sale prices and high monthly costs can lower sale price. A tax abatement may not be a good for buyers on a fixed income or who's income may decrease rather than increase over the years. 

Keep in mind the value of the apartment may increase and offset the increase in taxes. Taxes generally rise. However, in tax abated units the tax is already set at a higher amount but is being subsidized by the city for the short term (10 years in most cases)

For many buyers tax abatement's are great since they will have reduced costs for many years but they should make sure they are qualified to pay the increase at maturity or plan to sell a few years before maturity.


 
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Nov 19, 2011

The Dillon - 425 West 53rd - Townhouse Units

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The Dillon, a new development, 83-unit condominium at 425 West 53rd Street between Ninth and 10th avenues, had a broker party recently to debut its townhouse units and showcase its penthouses.

Developed by SDS Procida and marketed by Corcoran Sunshine Marketing Group, the Dillon is 60 percent sold, including one of the nine townhouses. The available units range from a 565-square-foot studio priced at $595,000, to a four-bedroom townhouse spanning 2,750 feet and priced at $4.15 million.

Walls are angled to draw the eye out and through. The building’s rippled exterior allows for views westward, towards the river, and to the iconic eastern cityscape.

The  designer apartments' walls, hand-painted by New York painter Mark Chamberlain in colorful stripes and honeycomb patterns. BMWs were temporarily on display in the garage to show off the underground parking.

Designed to suit the needs of diverse city lifestyles, amenities at The Dillon include a 24-hour attended lobby and a serene, landscaped garden terrace accessible via the residents’ lounge. Ideal for entertaining, the lounge is equipped with a service bar and a private dining room with catering kitchen. And a state-of-the-art fitness center with windows overlooking the garden terrace is adjacent to the children’s playroom.

The midtown Clinton "Hells Kitchen location is within walking distance of Midtown’s business center, Central Park and Hudson River Park, Times Square, Lincoln Center, Time Warner Center, MoMa and other myriad cultural and dining venues.

Click here to receive listings via email at The Dillon or any Manhattan New Developments.


 
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Nov 8, 2011

Largest New Construction Housing Plan in Manhattan

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550 West 45th Street Project Will Encompass Nearly an Entire City Block and Provide More Than 1,200 New Apartments with Over 600 Designated As Permanently Affordable, New Retail Space, New School and Open Green Space

550 West 45th Street is the largest affordable new construction housing development project in Manhattan to be created under the Bloomberg Administration’s New Housing Marketplace Plan. The plan, launched by Mayor Bloomberg in 2003, is a multibillion dollar initiative to finance 165,000 units of affordable housing for half a million New Yorkers by the close of the 2014 fiscal year. To date, the plan has funded the creation or preservation of more than 125,700 units of affordable housing across the five boroughs.

The residential portion of the project will be comprised of three separate buildings. Building A will be a 31-story tower with 698 total units with 141 affordable units (60 units being permanently affordable) and will contain the retail space at the ground floor level. Building B will be a 14-story building with 297 permanently affordable units. Building C will be a 14-story building with north and south segments located over the Amtrak train tracks with a combined 243 permanently affordable units.

Throughout all three buildings there will be 476 studio units, 419 one-bedroom units, 262 two-bedroom units and 81 three-bedroom units. The combined 600 permanently affordable units will be targeted to families with household incomes at ranges between 40 percent and 165 percent of the Area Median Income (AMI) or the equivalent of $32,720 to $134,970 for a family of four. The design by architect Schuman Lichtenstein Claman and Efron (SLCE) respects the scale of Clinton’s streetscapes by organizing the buildings into segments, each with a distinct exterior.

The residential development will be financed with $520 million primarily tax-exempt bonds issued by the New York State Housing Finance Agency , a subsidiary agency of New York State Homes and Community Renewal. These bonds are credit enhanced by a syndicate of lenders led by Wells Fargo Bank. The project also leverages $35.5 million in Low Income Housing Tax Credits.

 
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Jan 31, 2011

Linden78 - 230 West 78th Street - Upper West Side

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Rendering by Handel Architects
Sales are officially underway at Linden78, a full-service luxury condo at 230 West 78th Street, between Broadway and Amsterdam Avenue.  Only on the market since late fall, there already has been tremendous interest in this 32-unit property, which is anchored by a quiet, tree-lined street in the heart of the Upper West Side.  Only two residences per floor.

Linden78 offers oversized two, three, four and five bedroom residences. A limited collection of full floor penthouses are also available. Residences boast nine to eleven foot ceilings, huge walk-in closets and wide plank fumed oak floors. Many homes feature one-of-a-kind layouts, abundant windows, expansive entry foyers and fireplaces with granite surrounds and hearths in the penthouse homes.

The 21-story building was designed by the award-winning firm Handel Architects.  The architect’s goal was to unite two bold aesthetic visions. From the street, Linden78 blends seamlessly into the predominantly pre-war neighborhood via classic brick facing and Parisian-style balustrades. Rising from the building’s setback on the 16th floor is a dramatic modern, glass curtain wall. All the interiors are custom designed and feature high-end contemporary finishes.

Each of the homes feature an eat-in, gourmet chef’s kitchen, many with windowed breakfast area; classic Pietro Bianco Luna countertops complement sleek stainless steel appliances by Viking and Miele, and InSinkErator disposals complete the top-of-the-line package. Elegantly appointed master bathrooms feature Lagos Azul limestone floors, Luce di Luna countertops, Mezzanine Mink glass wall tiles, Waterworks sconces, Kohler six-foot Tea-for-Two soaking tub and oversized glass stall shower. The second bath features Bluestone mini-brick stone floors and Carrera marble countertops.

Immediate occupancy is available at Linden78, now complete and offering 2,3,4,5 bedroom and full-floor homes.

Prices start at $1,560,000 with a 421a tax abatement.

 
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Dec 2, 2010

Linden 78 - 230 West 78th Street -Upper West Side

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Linden78 - Located on West 78th Street between Amsterdam Avenue and Broadway.
Residence Features:
  • Expansive Entry Foyers
  • 5" Wide Plank Fumed Oak Flooring
  • Gourmet Eat-in-kitchens with Windowed Breakfast Areas
  • Tall windows opening onto Parisian-style balustrades
  • Ceiling Heights from 9' to 11' feet
  • Individually Controlled Heating and Cooling System
  • Full Size side-by-side Washer and Dryers
  • Extensive walk-in, linen, and oversized carriage-size entry closets
The open kitchens are equipped with Florense eco-friendly cabinetry, Miele and Viking appliances, 54-bottle wine refrigerator, InSinkErator garbage disposal and Insta-hot water dispenser. 


Built in 2007, Linden78 is a full-service 21 story condominium building with 33 apartments, 24/7 concierge, 24-hour attended lobby, onsite resident manager, individual storage units, ground-floor bicycle room, childrens playroom and fitness center opening onto a planted Linden Garden. 

Available apartments range from a 1227 square foot 2 Bedroom 2 bath home for $1,570,000 to a 3060 square foot 8 room 3.5 bath penthouse asking $6,775,000. Three and four bedroom apartments are available from $2,430,000. 

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Oct 20, 2010

Manhattan New Residential Developments | FAQ

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WHAT IS CONSIDERED NEW RESIDENTIAL DEVELOPMENT?
In New York, this is a residential offering that is completely new to the market, and must be approved by state and local governments. It includes both ground-up construction and the conversion of an existing structure, such as an office building or rental property.

WHAT IS A ‘SPONSOR’?
The legal entity that owns the new development being offered—considered “the seller.”

WHAT IS AN ‘OFFERING PLAN’?
A comprehensive disclosure document provided by the Sponsor and approved by the Office of the Attorney General of the State of New York (“Attorney General”) that describes the property’s offering.

WHAT IS AN ‘OFFERING PLAN AMENDMENT’?
A modification to the Offering Plan that is filed with and accepted by the Attorney General. Amendments are issued over time as material changes are made to the Offering Plan.

WHAT IS A ‘PURCHASE AGREEMENT’?
A legal agreement between a Purchaser and Sponsor detailing the conditions of the sale of property, including price and terms.

HOW IS AN OFFER MADE?
Offers are made in writing and submitted to the development’s onsite salesperson by the buyer or their real estate agent.

HOW DOES AN ACCEPTED OFFER GO INTO CONTRACT?
Once an offer is accepted by the Sponsor, the onsite salesperson requests contact information for the purchaser. The Sponsor’s attorney draws up the Purchase Agreement. The Purchase Agreement and Offering Plan are then sent to the purchaser’s attorney for review. Once both parties have signed the Purchase Agreement and the Sponsor receives a down payment, the residence is considered “in contract.”

HOW IS A DOWN PAYMENT MADE IN NEW DEVELOPMENT?
Typically, this is a percentage of the purchase price. Often, it is paid in the form of a certified check or wired into an escrow account set up by the Sponsor’s attorney.

WHAT IS THE DIFFERENCE BETWEEN COMMON CHARGES AND MAINTENANCE FEES?
Common Charges are monthly dues in condominiums, the most common form of new development. Maintenance Fees pertain to cooperatives.

FOR CONDOMINIUM BUYERS, WHAT ITEMS ARE COVERED BY MONTHLY COMMON CHARGES?
Common Charges are the monthly charges allocated to each residence and paid to the condominium in order to cover the pro-rata share of the condominium operating expenses. This does not include the unit owner’s real estate taxes which are billed separately to each owner. As the cost of operating the building changes over time, Common Charges are also subject to change.

DISCLAIMER: PLEASE NOTE THAT THIS IS NOT A LEGAL OR TAX DOCUMENT OR OPINION. THE INFORMATION CONTAINED HEREIN IS GENERALIZED FOR MANY SITES; BUYERS SHOULD CONSULT THEIR TAX ADVISORS, LEGAL COUNSEL AND THE COMPLETE TERMS AND CONDITIONS OF THE OFFERING PLAN FOR THE PROJECT BEFORE PURCHASING A PROPERTY.

 
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Oct 19, 2010

Reasons to Buy New Development in Manhattan

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TOP 10 REASONS TO BUY NEW DEVELOPMENT

1 THERE HAS NEVER BEEN A BETTER TIME With fewer developments on the market, interest rates at historic lows, and the last chance to secure 421a tax abatements.

2 BRAND NEW EVERYTHING Be the very first to live in your home and enjoy brand new infrastructure throughout.

3 COMPETITIVE PRICING Developers have a realistic understanding of the market and prices to match.

4 EASE OF OWNERSHIP Benefit from a hassle-free purchase process with no board packages, and use your residence however you want—live, rent, or pied-à-terre.

5 INTELLIGENTLY DESIGNED Modern room proportions, high quality materials, and windows that maximize light and air add up to a home that complements your lifestyle.

6 IMMEDIATE OCCUPANCY There is often no need to wait to move in—your brand new home can be ready right away.

7 HEALTHY HOME Green features make your life healthier, and energy efficiency benefits you and the environment.

8 STATE OF THE ART LIVING Your home is outfitted with top of the line materials, the most up to the minute technology, and all the little extras that make life easy.

9 CREATE A COMMUNITY Move in together, and build a community with your neighbors.

10 THE FULL PACKAGE Your home is more than just your condominium—it’s the fitness center, outdoor space, and private lounges, not to mention the doorman and concierge, at your service.

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Sep 17, 2010

The Aldyn - 60 Riverside Boulevard

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Last night I attended the gala opening at The Aldyn, a new luxury residential 40 story building at 60 Riverside Boulevard on the Upper West Side of Manhattan. The Aldyn has rental apartments on the second through tenth floors and condominium apartments from the 11th floor through the 40th floor. 

The opening party last night “American Fashion: Designers at The Aldyn” took place the last night of New York Fashion Week.

The rooms in each apartment were designed by top designers including Diane von Furstenberg, Elie Tahari, Nicole Miller, Jeffrey Banks and Richard Lambertson and John Truex for Tiffany & Co.  who collaborated with interior designers to translate their newest collections for the home, often mixing in personal items. 
The Aldyn Residences, Athletic Club and Spa includes 40,000 square feet of amenities overlooking the Hudson River. Sports lovers and athletes will love LA PALESTRA Athletic club & Spa designed by Roman and Williams:


  • Fitness Center with Yoga, Pilates, Personal Training, and Kinesis Rooms
  • 75' Swimming Pool and Hot ub
  • Rock Climbing Wall
  • Basketball Court
  • Squash Court
  • Bowling Alley, Game Room, and Club Lounge
  • Golf Simulator
  • Private Treatment Rooms
  • Men & Women's Locker Rooms, Suana and Steam Rooms
  • Private Landscaped Garden
The Residences include Brazilian Cherry Flooring, 9' ceilings, Bosch Washer and Dryer's. Choice of kitchens in teak or white cabinetry, Decorative Metal Pulls and Dishrack, Custom Lighting, Blizzard Quartz Countertops with Caldia Marble Chef Block, Blizzard Quartz backsplash with Integrated Teak Spice Shelf, Smeg Dual Fuel Range, Smeg Energy Star Rated dishwasher, Miele Refrigerator/Freezer Wine Refrigerator and Microwave Oven. The bathrooms feature Bianco Dolomite marble lors and Walls, Teak Accent Wall Panels, teak vanity and Mirrored Cabinetry, Marble Countertop and Backsplash, Zuma Tub, Waterworks Brushed Nickel Fixures and Toto Toilet.
Anticipated Estimated Starting Price Range as of September 16, 2010: 

One Bedrooms: 739 - 839  square feet starting at $775,000 - $1,195,000
Two Bedrooms: 1,071 - 1455 square feet starting at $1,425,000 -2,195,000
Three Bedrooms: 1,618 -2075 square feet starting at $2,600,000 - $3,350,000
Four bedroom: 2,505 - 2,755 square feet starting at $4,000,000- $4,950,000
Six Bedroom Duplexes and Penthouse Residences with terraces and pool 2,930 -5960 square feet range from $6,300,000 to $17,500,000. 



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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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