|Highlights of Manhattan Second Quarter 2014 Market Report:
· Inventory Starting to Turn Around. Although the number of properties listed for sale remains low (52% below the peak in Q1 2009), inventory rose for the second quarter in a row.
· Limited Supply Buoys Prices. inventory was up, but its overall continued depressed level maintained competitive conditions among those in the market to purchase.
· Slower Activity in Bread-and-Butter Sales. In Manhattan, one- and two-bedroom units are the primary drivers of residential sales activity, but they are occurring with decreasing frequency. (see Sales by Price Category, p. 6.)
· Luxury Sales Grow Disproportionate. Activity at the high end continued to be robust, and grew as an overall percentage of the market. Properties above $3M now account for 12% of sales (up 3% from a year ago), and 26% of available inventory (up 4%).
· Price Per Square Foot Sets New Record. The focus on high-end sales drove the average price per square foot for Manhattan real estate up to $1,286.
The Second Quarter described signs of buyer fatigue and caution, particularly amongst prospective buyers of small units. With prices at their peak, there is less incentive to become a first-time buyer, or to trade up from a starter home.
Sellers act now and price it right.
Each market segment and neighborhood has it's own nuances. If you're thinking about buying or selling a home, or would like to discuss the market or this report please contact me.
For the complete Corcoran Manhattan Second Quarter Report including neighborhood reports.
Jul 1, 2014
Labels: condos , coops , Manhattan Market Report Second Quarter 2014 , townhouses
Apr 14, 2014
Labels: condos , coops , East Harlem , El Barrio , manhattan , neighborhood , real estate , SpaHa , Spanish Harlem , townhouses
|Metro North Railroad Station at 125th Street & Park Avenue|
'There is a rose in Spanish Harlem
A red rose up in Spanish Harlem
It is a special one, it's never seen the sun
It only comes out when the moon is on the run
And all the stars are gleaming
It's growing in the street right up through the concrete
But soft and sweet and dreamin'
Ben E King
El Barrio (Spanish Harlem) SpaHa (East/Spanish Harlem) community stretches from First Avenue to Fifth Avenue and from East 96th Street to East 125th Street.
A big draw in East Harlem is space — apartments often come with a dining room, an outdoor garden, or even parking. Large rental complexes like Hampton Court (complete with gyms, garden decks and retail shopping) are now being joined in East Harlem by luxury condos offering views of the East River, the George Washington and RFK (Triborough) Bridges.
|Lexington Hill Condominium (103/104th Streets)|
On the artsy side of East Harlem, provocative murals by celebrated artist James De La Vega — some commissioned, some not — dot the neighborhood and the living legacy of Salsa greats continues at venues such as Creole, a jazz/supper club, and Orbit, a bar/restaurant that hosts open mic nights in its jazz and cabaret schedule.
East Harlem residents enjoy the East River Plaza on 116th Street off the FDR Drive that opened in ’09. If you want to stock your home with everything, big companies that will be offering their wares for sale in East Harlem include Target, Marshall’s, Best Buy and Manhattan’s first Costco. Other neighborhood attractions include the Museum of the City of New York, El Barrio Museum, Central Park East and North Meadows.
Easy access to get out-of-town. There's a Metro-North Railroad Station at 125th Street with a 4-5-6 Lexington Avenue subway stop and easy access to the FDR Drive and the west side via cross town bus on 125th Street. Easy access to La Guardia airport from 125th Street airport bus.
There currently are approximately 40 active apartments for sale in East Harlem. Ranging from $139,000 for a 2 bedroom, 1 bath, 5th floor walk-up to $2,980,000 for a 3 bedroom. 3.5 bath, 2849 square foot penthouse at the Crown Condominium.
Currently there are approximately 10 residential buildings (single family, multi family, mixed use and income properties) for sale in East Harlem ranging from $1,150,000 for a two family house to an 8-story income property delivered vacant under construction condo for $15,550,000.
There is a rose in Spanish Harlem...
Dec 26, 2011
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|
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.
Nov 19, 2011
Labels: clinton , condos , dillon , hells kitchen , midtown west , new construction , new development , townhouses
Click here to receive listings via email at The Dillon or any Manhattan New Developments.
Nov 9, 2011
Labels: townhouses , upper west side brownstones
Sep 14, 2011
Labels: brownstones , limestones , manhattan , townhouses , upper west side
May 5, 2010
Labels: 425 west 53rd street , clinton , condos , dillon , new construction , new development , townhouses
updated post November 19 2011
Feb 24, 2010
Labels: historic district , landmark , townhouses , upper west side , west 86th street
At the same time, community efforts are underway to Save the West 86th Street Townhouses. A petition to NYC Landmarks Preservation Commission was created by West End Preservation Society.
These four West 86th Street Gilbert townhouses are built in the French Neo-Renaissance style with delightful details worked into their stone facades. These buildings exhibit rounded bays running up three stories of the buildings, petite balconies, intricate floral swags atop the tall windows and mirror-image placement with respect to one another. This unique architectural design allows each of the four structures to be differentiated from the other yet at the same time exhibits a smooth, sensuous curve when viewing the four together. West 86th Street was once all townhouses from Central Park West to Riverside Drive. There are community efforts to designate all of West 86th Street a historic district.
sign the petition
Aug 31, 2009
Labels: condos , corcoran sunshine marketing group , Designer Visions , Hearst magazines , lofts , soho Mews , townhouses
Hearst titles House Beautiful, Town&Country and Veranda will each design a townhouse at Soho Mews, a modern, elegant condominium designed by renowned architecture firm Gwathmey Siegel & Associates and located in Manhattan’s trendy Soho neighborhood.
This year, Designer Visions’ theme is “Cinema Style,” since great films, both current and classic, and their characters often inspire the world of interior design. The magazines and their respective designers have each chosen an iconic film which will be reflected in their residence’s décor as follows:
- Thom Filicia for House Beautiful – The Big Chill
- Richard Mishaan for Town&Country – Dinner at Eight
- John Saladino for Veranda – Girl with a Pearl Earring
Hearst Magazines will host an opening night event for Designer Visions: Cinema Style on October 13, followed by other events through the month of December. Opening a few weeks earlier will be the Esquire Apartment, a.k.a. the magazine’s “ultimate bachelor pad,” also located at Soho Mews. This marks the first time that Designer Visions and the Esquire Apartment, now in its seventh year, have each found a unique space within the same residence.
The townhouses range in size from 2,877 square-feet to 3,855 square-feet. Once unveiled, buyers will have the opportunity to purchase these signature living spaces.
This year, for the first time, Hearst Magazines has partnered with Fine Living Network (FLN) to produce a one-hour television special that will offer viewers nationwide a behind-the-scenes look at the three Designer Visions residences and the inspiration behind them. The special, hosted by FLN’s style expert Lloyd Boston, will premiere January 25, 2010, at 8pm ET.Soho Mews comprises two condo buildings; one with an entrance on West Broadway and the second which fronts Wooster Street. They are connected by a 4,000 sq.-ft. garden designed by the award-winning Peter Walker & Partners Landscape Architecture, which was recently honored with the winning design for the World Trade Center Memorial, among other accolades.
The property features 59 lofts, 5 spacious townhouses and 4 wrap-around penthouses, all with 10-foot ceilings. The building’s ample amenities include concierge service provided by Luxury Attaché, in-building art information advisory service by Yvonne Force Villareal and Doreen Remen’s Art Production Fund, special shopping privileges, updates and other perks from Fort Street Studio, Moss and Centovini, as well as a state-of-the-art fitness center and 24-hour doorman and porter service.
Current available apartments for sale at Soho Mews range in price from $2,325,000 to $11,550,000. Current available apartments for rent at Soho Mews range from $7,000/month to $20,000/month.
For more information about sales and rentals at Soho Mews or any other Manhattan project please contact me at firstname.lastname@example.org
May 29, 2009
Labels: condos , Hamilton heights , townhouses , west harlem
Alexander Hamilton was the first United States Secretary of the Treasury, a Founding Father, and political philosopher.
His Manhattan home Hamilton Grange has recently been moved from Convent Avenue to St. Nicholas Park.
Today Hamilton Heights is mostly a housing fusion of palatial 19th century brownstones, spacious pre-wars and tenement walk-ups.
A diversified mix of Buyers are coming to Hamilton Heights for the neighborhood’s history, the houses, brownstones and new condos that cost much less than they would a mile to the south.
Currently there are approximately 110 active apartment listings in Hamilton Heights. Prices range from a $125,000 for an HDFC (income cap retrictions) 2 bedroom coop to a $2,125,000 8 room four bedroom 3 bath, 2250 square foot pre-war coop.
Click here to find out how much your home is worth in today's market?
Jun 29, 2007
Labels: historic , landmark , manhattan , neighborhood , townhouses
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 historic districts. The new designation means property owners need to get the Landmarks Commission approval for changes to building exteriors.
For more information about Morningside Heights click here.
To search MLS IDX listings in Morningside Heights and West Harlem click here.
To receive Morningside Heights, West Harlem or any other Manhattan listings by email click here.
Jun 1, 2007
Labels: brownstones , condos , coops , Hamilton heights , Harlem , manhattan , morningside , townhouses
- East Harlem/El Barrio (Spanish Harlem) community stretches from First Avenue to Fifth Avenue and from East 96th Street to East 125th Street.
- Central Harlem stretches from Central Park North to the Harlem River and from Fifth Avenue to St. Nicholas Avenue.
- West Harlem, including Hamilton Heights and Sugar Hill, stretches from 123rd to 155th Streets and from St. Nicholas Avenue to the Hudson River
A luxury glass condo at 111 Central Park North currently has 2 available 3 bedroom apartments for sale for $2,399,000 and $2,690,000. (Oct 1, 2011)
All the new construction in Harlem it hasn't lost its old historic flavor. There are still many prewar buildings and beautiful 19th century townhouses featuring fireplaces and molding and lovely backyards.
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